Martin Sabo: “I yield myself 1 minute to simply say that was about the most inaccurate description of what has happened I have seen.…”

“I yield myself 1 minute to simply say that was about the most inaccurate description of what has happened I have seen. The fact is the bulk of the new revenues last year applied to changes in the income Tax Code for people with taxable incomes of over $140,000, which means they have close to a gross income of $200,000. The surcharge applies to incomes over $250,000, probably gross taxable income over $250,000, gross income of $300,000 or more. I have to indicate also to the gentleman that the numbers he is using on this chart of average taxes assumes or averages in the Ross Perots with the rest of everyone. That is clearly inaccurate. It assumes that the cost of shelter is only 15 percent, and all of a sudden here a while ago, in the housing bill, the gentleman was trying to increase rents to over 30 percent of income for people in low-income housing. Grossly inaccurate.”