Jack Kingston: “of course, the Democrats and the White House are concerned about the circus coming to town. They hate having the…”

“of course, the Democrats and the White House are concerned about the circus coming to town. They hate having the competition. Besides, they might get stomped on by a charging elephant. They already had that experience in November. But have they no shame? For the past 40 years, while controlling the House, the Democrats had deficit spending, and now suddenly they are deficit hawks concerned about a tax cut that might hurt the economy or the deficit, according to them. Of course, we know that Democrats love taxes, so they do not want to give up on any tax revenue. But I would say to my friends on that side of the aisle, if they would look at history, economic history, they would see that tax cuts actually increase revenues. From 1956 to 1969, taxes were down, and GDP increased. From 1970 to 1982, taxes were up and GDP went down, revenue from taxes went down. From 1983 to 1988, revenue from taxes went up and taxes were down. But then after the 1989-90 tax bill, taxes went up and revenues went down. Mr. Speaker, this is economic history. It is not partisan politics. I would be happy to share it with any of the Members.”