Political Quotes

“nobody wants tax increases, and a tax increase right now would be detrimental to the economy of the United States. In fact, the Treasury Secretary thinks it would be disastrous. It would put the economy into a tailspin. Chairman Rangel of the Ways and Means Committee recently tried to use as a wedge the AMT, the alternative minimum tax, as a way to create a new system down the road that would raise billions and billions of dollars in new taxes across this country. As a matter of fact, they would raise the top tax rate on capital gains to 36 percent. On people making over $200,000 a year, it would raise their tax rate to 36 percent; and these tax increases would be absolutely devastating to the people of this country and to the economy of this country. Chairman Rangel in 1996 had an opportunity to vote against the alternative minimum tax, but he voted for it. And now he is saying he is against it, and he is using it as a wedge to get other taxes increased, which over the long term, over the next 10 years, will result in billions and billions of dollars of new tax increases for the people of this country.”