I hope that we can find the additional funding to let you continue to provide that good service.

Those receiving disability benefits who want to work are looking for a hand up, not a hand out, to help them achieve a better life for themselves and their families. Now, more than ever, how every taxpayer dollar is spent matters. Programs…

I appreciate you all being here. Chairman Davis and I are interested in improving the system, if we can, and helping the people out there that need help.

do you not believe that cutting the capital gains tax rate, as Congress did in 2003, can have a positive macroeconomic impact?

Seniors are urged not to carry their Social Security card to protect their Social Security number, but at the same time are being told they must have their Medicare card with them at all times in order to get health care. This makes no…

Well, I am told that docs aren't even going to school anymore because it doesn't look like a profitable profession.

But that is costing you and me more when we go to the hospital.

I don't see any reduction in cost.

I actually would echo again what President Bush's advisory panel said, which is they came out strongly against FairTax or national sales tax.

But one ironic effect would be to make the private sector much, much smaller. Therefore, government as a share of GDP will become bigger while GDP was getting smaller.

Thank you, Mr. Chairman.

But the other thing, it provides a more stable funding for Social Security, because it is based on the consumption that all of us make, not just the wages that wage-earners are making, which is, I think, another good reason for the fair…

Yes, Mr. Rangel, that is my opinion, because government debt as a triple A rated securities, the basis of our credit system, so much of the private sector depends on credit one way or another.

We shouldn't do it. I hope we don't do it. It would be very bad for the economy.

As long as we are putting this in the context of medium-term fiscal consolidation--so, over a 5 to 10-year horizon, until the financial markets believe you have credible plans for bringing down the deficit, controlling the deficit, and…

If you want a fair, simple, and pro-growth system, you should tax excessive leverage in the financial system and use the revenue that generates to reduce corporate taxation for the non-financial sector.

I think that bringing the corporate rate down would go a long ways towards eliminating the bias that currently exists.

We don't know what happens, but we don't want to find out.

Should revenues be part of the debt limit discussion, as we start to discuss how we move forward in dealing with our deficits and our national debt?

But if I could just add, the tax on excessive leverage is where European Union is heading, including the UK.

Yes, that is kind of double taxation, isn't it?

It is absolutely essential that the United States remain a beacon of safety and clarity to international investors.

Experience in Europe, including in the last days and weeks, tells you that countries that previously thought that they had an impeccable credit rating can come under market pressure much more quickly.

Excessive leverage in the financial sector. You could be steeply progressive on this.

I think you should focus on moving towards a value-added tax system.