Maxwell Frost: “Mr. Speaker, the political vote today is yes, but I intend to vote no because of the issue of fairness. This country was…”

“Mr. Speaker, the political vote today is yes, but I intend to vote no because of the issue of fairness. This country was founded on a battle about taxation without representation with the British Government. We have had rebellions in this country, Shay's Rebellion, the Whiskey Rebellion, when people felt the taxation was unfair. We rely in this country on taxpayers, voluntarily collecting from people. We have a basis in this country of fairness. This bill is unfair. It is unfair to give somebody making $30,000 with two kids and trying to deal with all that is involved in raising a family $1,000 for their kid credit, while somebody making $109,000 gets an average of a $16,000 tax break on their capital gains. The lowering of the capital gains rate benefits the wealthy in this country, and it is clear that what will happen when we get the rate down to 18 percent, which is almost the lowest tax rate on regular income, that this will have thrown gasoline on the whole class warfare issue. If I am making $500,000 or $600,000 or $800,000 and I can get my pay given to me in stock options, I will pay 18 percent. That is exactly what people making $30,000 in this country are paying. We have brought the tax rate for the richest in this country all the way down to 18 percent.”