Political Quotes

“I think we should remind ourselves what we are after. We are not just after changes in the way the Federal Government keeps its books. Our goal is to make the United States a better place to live and work and raise our families. How do we get there? We get there, No. 1, by increasing savings. That will help us achieve more and better jobs. I would like to suggest that the biggest cost over the next 10 years of the tax decreases is a bill that I have been supporting for the last 2 rac{1}{2} years called neutral cost recovery. What this bill does is to say to businesses that--when they buy new machinery or equipment, they can consider that a business expense and can deduct it from the tax base before you figure out how much taxes you owe. Guess what the economists say is going to happen if you allow businesses to deduct the price of the cost of the machinery and equipment and the facilities that they purchase in the year that they buy it? What is going to happen is, it is going to in effect reduce the price of that equipment by 16 percent and businesses are going to buy more of it. And if we want the great American work force to have better tools, then we are going to have to have some motivation, some incentive to get those tools in the hands of the best work force in the world. And the way we do that is tax policy. We are dealing with a tax increase 2 years ago that was $252 billion.…”