Political Quotes

“as we know, the American family is overtaxed. But our families are not limited to just young newlyweds or those with kids in college. Our families include our parents and grandparents. And just as high taxes are antijobs and antifamily, they are antiseniors. Here are the facts: Senior citizens with an average income face the highest marginal tax rates in the country In fact, for seniors 40- to 80-percent tax rates are not uncommon; A senior working at a job that pays $5 an hour will only net $2.20 an hour after he or she works even 1 hour past the current $11,280 earnings limit; and A senior who earns juat $1 over the earnings limit annually will face an effective marginal tax rate of 56 percent. Mr. Speaker, we need to restore tax fairness to all families, including seniors. Why should the American dream disappear when someone turns 65? Why should someone be discouraged from working just when they can offer years of experience and wisdom? By raising the earnings limit to $30,000 we will be raising the hopes and futures of one of our Nation's most precious resources, our senior Americans.”