Political Quotes

“Now, to add insult to injury, this is not the only part of this bill that actually tips the playing field in favor of our economic competitors overseas and against the American worker and against the American taxpayer. If you look at the corporate tax cuts in this bill, they are permanent. They go on forever. Year after year, corporations will get that tax cut in the United States of America. Whereas, if you are an individual household in America, millions of middle-class taxpayers will see an immediate increase in their taxes. Some will see a small cut in their taxes for a period of time, but in the long run, those individual tax cuts go away, and the corporate tax cuts go on forever. Of course, the theory behind this is trickle-down economics; right? You are going to give the very wealthy and big corporations the tax cut, and the benefits of that are going to trickle down and lift everybody up. I think we know that this theory has run aground and run into the wall of reality many times over. Most recently, in the early 2000s, we had the Bush tax cut. It was the same theory--to cut taxes for the superwealthy and somehow the benefits were going to trickle down and lift everybody up. I will tell you who it lifted up. The wealthy did even better. The other thing that went up is our deficit and debt, but everybody else was either running in place or falling behind. That was our most recent experiment in trickle down.…”