On the recordSeptember 19, 2012
I thank the gentleman from Michigan for yielding and for bringing this legislation to the floor. The Buffett Rule Act that we're debating now will set up a process where citizens all across the country, rich, poor, whatever their income level, if they feel that they haven't paid enough money into the Federal Treasury, then they can just check off a box and submit the amount of money that they want to pay in addition to what the normal tax liability is, and the assurance will be that that money will be used specifically to pay down the national debt, which, of course, just a few weeks ago, broke the $16 trillion mark under President Obama. I think if you look at the Buffett Rule Act that we bring forward and contrast that with President Obama's proposed Buffett rule that he's talked about, what the President's talked about is actually raising taxes on the very small business owners that we need in our country to help create jobs to help get our economy going back again. In fact, even President Obama himself acknowledged that if you raise taxes on anybody in a bad economy, it will make the economy even worse. And make no mistake about it, we are living right now in a bad economy, in many cases because of the President's policies, because of the so many tax increases that this President has already imposed. Just in ObamaCare alone, President Obama has imposed more than 20 new taxes on middle class families.…
Source
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