On the recordFebruary 28, 1994
Forget GAO projections and all the others. Look at the lifetime net tax rates under alternative policies. Under OMB figures in that budget they just gave us, tax rates for someone my age, 1930--I was born in 1928--but let us say 1930 are 30 percent, and for someone-- I want to have the attention of my colleague from Arkansas on this--for future generations, and this is if the health care bill passes and saves all that they project, if we have 10 years of prosperity in a row without a dip, both of which are somewhat questionable, even though I am a cosponsor of the Clinton health program, the administration says 66 to 75 percent of the lifetime earnings of future generations will go for taxation. It is not going to happen. We are going to print money. That is the reality.
Source
govinfo.gov
