Melvin Watt: “this morning's paper reported that the Republicans have reached a deal on the tax cut package. Well, the public had…”

“this morning's paper reported that the Republicans have reached a deal on the tax cut package. Well, the public had better beware, because this tax cut package has two major problems. No. 1, they have told us all of this time that the most important thing in life is cutting the deficit. But what are we doing? Instead of using this money to cut the deficit, we are cutting taxes instead. No. 2, we are doing it on the backs of poor people. The poor person, the $20,000 to $30,000 per year person, the $30,000 to $50,000 per year person, will get little benefit from this tax cut. The person earning over $200,000 a year in income will get $11,266 in tax cuts. Nothing for the American people who need it. This is trickle down economics again. We ought to reject it out of hand.”