Political Quotes

“I thank the gentleman for yielding. I am a former tax lawyer. My wife is a practicing CPA. We have heard this before: simplification is going to help. It has never put a single accountant out of business, and it won't do it now. It is another part of the big scam going on. Why? Sure, I will probably get a tax break out of this; some of my constituents will. But what do we get in return? We don't get healthcare. We don't get better roads. We don't get better education. But we do provide a $5,000 to $10,000 debt for our children. We do tell our seniors: Too bad if you have a heart attack or cancer; no more medical deductions for you. We tell our current graduate students: Too bad, no deductions for you. And on and on and on. And by the way, we have a new provision in here that I like to call the ``Dynasty Protection Act.'' Why? Because if you have a dynasty, if you are worth $30-, $40-, $50-, $100 million, your children get to keep it all. Not because they have done anything, but because they won the genetic lottery. Good for them. And then if they do get up off their butt and get a job, maybe start a hedge fund with all the money they inherited, they get another tax credit by not touching the special tax deals--you have the hedge fund managers. And if they earn a little extra money, they get to keep more of it because there is no alternative minimum tax left.…”