Political Quotes

“As a matter of fact, almost 70 percent more American workers now pay more in the FICA tax than they do in the income tax. I mentioned earlier that we went to New York a few weeks ago to the Federal Hall where the Bill of Rights was developed and our first Congress met. Our Constitution gave the incentive that has made this country so great over the last 226 years. It was a system where those individuals that worked hard, that tried, that learned, that applied that learning, that saved and invested were better off than those that did not. So that kind of an incentive was what made this country great, and we have been redistributing income; so as our taxes have been more progressive and saying, well, if one is successful or if they are a young couple and they want to work another 8 hours to do better for their family, we have a system now that says we are not only going to continue to tax them at the same rate but if they go out with a second job and earn more, we are going to tax them at a higher rate. So like the 100 percent, the more we tax, the more it discourages that kind of saving, that kind of investment. It is a challenge that this country is going to have to face up to. And the demographics are startling.”