Political Quotes

“But before I address that, I would like to remind those who are listening that just a few weeks ago on the floor of this House of Representatives, as part of the so-called Republican Contract With America, the Republicans by and large with a few Democratic votes enacted a tax cut, yes, a tax cut during a period of high Federal deficits. Many people, including a number of Republicans, questioned the wisdom of cutting taxes when in fact we are in the red. But the Republicans were determined to do it and went ahead with their plan. Their plan, unfortunately, did not cut taxes primarily for middle-income and working families. No; primarily the tax breaks went to wealthy corporations and wealthy individuals. In fact, for 1.71 million Americans the Republican plan will result in a $20,000 tax break. Now you cannot give away those Federal taxes without it costing you something, and in fact over the next 7 years that Republican tax break is going to cost taxpayers an additional $345 billion. Over and above the deficits that we run each year, we are adding another $345 billion dollars to the national debt for this tax cut package.”