this bill does two things. It cuts spending and it cuts taxes. I think we need to ask ourselves the question, what is going to make our communities in this country a better place to live and work and raise our kids? No. 1, it is to leave some of that hard-earned money in the pockets of the people that made it rather than give it to the Federal Government. A lot of discussion about who gets the advantages. If you happen to be a family that makes less than $25,000, you get a 100 percent tax break. You pay zero. If you are making $30,000, you get 48 percent of your taxes reduced. You see the declining balance? If you make over $200,000, you only get a 2-percent reduction in your taxes. The other thing is spending cuts. We have built over the last 40 years a $5 trillion debt that we are passing onto our kids and our grandkids. This starts to cut spending. I know some of those programs are good. So it is easy for the other side to say, do not cut this program, do not cut this program. Well, if we care about spending, if we care about our future, if we care about the $339 billion interest that we are going to be paying this year, one quarter of all revenues coming into the government, we have got to cut spending. This bill does it.
Editor's note · Context
Discussing the implications of a bill that cuts spending and taxes.
Share
More from Nick Smith
reclaiming my time, although I support the intention of the chairman of the Committee on Small Business, my concern would be where the money comes from. So, in the MEP program, it is already sacrificing, and this also takes funds out of…
for a moment, I want to talk about what our decision should be in this United States Congress as we approach another budget year. One of the big challenges of the Congress of the United States is the overspending of government, because it…
people say that a truly great athlete is not only gifted himself, he makes those who play with him better. The same is true of President Reagan, who not only led the country, but restored America's confidence. He renewed our sense of…
I share with my colleagues a poem by Albert Carey Caswell. And to This End And to this end Approach Heaven, our True American Hero . . . America's finest of all true friends Rest now . . . our Great American Patriot . . . as up to Heaven…





