On the recordJanuary 22, 2007
I think one thing to put into perspective is the real question, what I like to do is come back to the facts and the numbers. There is a lot of talk about, again, the politics of fear, the politics of class warfare, who actually will be rewarded or hurt by these tax cuts or tax increases. Here is the reality in a practical sense. The tax cuts that have been put in place have created record revenues for government because of job creation. Millions of people were taken off of the tax rolls all together. The floor for tax payments was pushed upward. The 10 percent tax bracket was created for those who are just starting out, those who are just in transition, so their burden would not be unduly high. All of that goes away. What are some other things that go away? One of the things that I think is kind of interesting, as somebody who is the grandson of a teacher, the husband of a teacher and the father of a soon-to-be-certified teacher, how does it impact education? Well, let us look at this. We passed an extension in the last Congress, carrying on above-the-line deduction for higher education expenses.
Source
govinfo.gov




