Political Quotes

On the recordFebruary 7, 2001
we are now considering the question of tax relief: What kind of tax relief should we have? How far should we go to stimulate the economy? It strikes me, Mr. Speaker, that we have heard a lot of bragging out of the White House for the last 7 years that the 1993 tax increase was part of the reason that we have had such a good economy. But now I see nobody, nobody on that side of the aisle or anyplace else, suggesting that we should have a tax increase now to stimulate the economy. It is ridiculous. The question is, how do we have some kind of tax cuts that are going to help keep this economy strong? One of the greatest contributors to the surplus or overtaxation is the Social Security tax. That is where most of the surplus has come from. The challenge is--how do we use that money, how do we save that money--because we are going to need it starting in 2010 when the baby boomers retire. The challenge is great. I urge the American people and this body to become familiar with the debate on how do we give the kind of tax cuts that are best going to lead to a strong economy and a strong America.
Said by
Nick Smith
Republican · Michigan

Editor's note · Context

Discussing tax relief and its impact on the economy during a floor speech.

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