Jasper Packard: “I would like to express my extreme concern over the President's threat to veto H.R. 2488, the Financial Freedom Act of…”

“I would like to express my extreme concern over the President's threat to veto H.R. 2488, the Financial Freedom Act of 1999. This legislation offers nearly $800 billion in tax relief for America's families, including eliminating the death tax, reducing the marriage penalty tax and capital gains tax, a 10 percent across the board income tax reduction for all Americans. The President opposes the Financial Freedom Act because he claims this legislation does not secure Social Security. This is false. The fact is, H.R. 2688 leaves more than $2 trillion for Social Security and Debt Reduction, which exceeds the amount requested in the President's own budget. Mr. Speaker, tax relief is the right thing to do. H.R. 2688 gives the surplus back to those who created it, the American taxpayer. Over the next ten years, the government will receive an average $5,307 more in taxes from each American family than it needs to operate. If families continue to overpay the federal government in taxes, Washington will just spend it on more big government programs. Mr. Speaker, it is time we let those who worked for the money spend it as they see fit. I urge the President to reconsider his position against American taxpayers and support the Financial Freedom Act. Government should do more for its citizens than raise their taxes and feed the federal bureaucracy.”