Jack Kingston: “if the American people, let us just say, had $50 more in their pocket because the Federal Government did not take that…”

“if the American people, let us just say, had $50 more in their pocket because the Federal Government did not take that money, we confiscate it now, but if we left $50 more in the pockets of, say, 200 million Americans, that would be another $10 billion in the economy. Will that $50 dollars in your pocket send to college? No. But you will go out to eat more often; you might buy another pair of shoes, another pair of socks, a belt. And when you do that, small businesses will expand to react to that $10 billion infusion of money into the economy. When those small businesses expand, jobs are created. When more jobs are created, more people go to work. When more people go to work, less people are on welfare and other public assistance programs and more tax revenues come in. President Reagan and President Kennedy both proved this through tax cuts in the 1960's and the 1980's. If we today just give our average amount of tax relief, we would be creating more jobs and increasing revenues. I strongly feel that is very consistent with deficit reduction.”