Political Quotes

“Mr. President, thank you very much. Mr. President, I appreciate the point made by the Senator from South Dakota, and I am glad to join in this conversation this afternoon. About a decade ago, the worst economic recession since the Great Depression devastated our middle class households and families across the country. In its aftermath, our economy consistently underachieved. Last year, the United States saw less than a 2-percent increase in the amount of goods and services we produce. The reason is our stagnant economy, which suffers from an outdated tax system that stifles economic growth through high tax rates and an unreasonable compliance burden. Small businesses, which I am partial to because they make up about 97 percent of employers in Iowa, are taxed as much as 44.6 percent on their profits. Every year, these job creators spend over $18 billion just to comply with Federal tax laws and regulations. Middle-class families and individuals around this country need some relief. By streamlining our cumbersome tax system and eliminating loopholes that primarily benefit the wealthy, Congress has an opportunity to lower tax rates for middle and lower income wage earners. Likewise, by creating a more competitive tax system for businesses, we can foster greater growth and investment in the United States and boost wages for more Iowans. Tax reform also provides Congress with an opportunity to lead by example and offer up its own unnecessary tax break.…”