Greg Ganske: “For the last 25 or 30 years, the average income family in this country has stagnated. I mean, you can talk to the…”

“For the last 25 or 30 years, the average income family in this country has stagnated. I mean, you can talk to the President of the AFL-CIO. He will tell you exactly the same thing. Part of that is because in 1950, the average income family was sending 5 percent of their income to Washington for Federal taxes, and today the average income family is sending over 25 percent of their income. That means to Washington for Federal taxes alone. That is not counting State and local property taxes. So it means almost they have to work until July 4 before they can start to work for themselves each year. That is not the rich, that is an average income family. So what we know will happen is that if we can balance the budget, when the government does not take so much of the discretionary income into itself, that leaves more out there. There are more jobs. We are talking about 5 to 6 million more new jobs in the next six years if we balance our budget. We are talking about interest rates dropping 1 to 2 percent. For a young couple buying a $75,000 home, at 2 percent lower interest rates on their home, on their 30-year mortgage, they save $36,000.”