John W. Olver: “Mr. Speaker, the idea that you can increase revenues was very…”

On the recordApril 4, 1995

Mr. Speaker, the idea that you can increase revenues was very thoroughly debunked in the 1980's, when tax reductions were given and when the deficits went right through the ceiling during that period. And during a 12-year period we saw more than a quadrupling of our national debt, with deficits year after year that ran between $200 and $350 billion per year, that economically have brought us to the sorry state that we are presently in. But in any case, no economists agree that we should be doing this kind of tax break.

Said by

John W. Olver

Massachusetts

Source

govinfo.gov

Editor's note · Context

Discussing the impact of tax reductions and national debt during a floor speech.

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John W. Olver: “Mr. Speaker, the idea that you can increase revenues was very thoroughly debunked in the 1980's, when tax reductions…”

Editor's note · Context