Kent Conrad: “This isn't a 1-year bill. This is a 10-year bill. That is the problem. I displayed a chart earlier about all the…”

“This isn't a 1-year bill. This is a 10-year bill. That is the problem. I displayed a chart earlier about all the measures that are phased in, all the things that come in later on, that benefit the wealthiest people in our country. He puts up a chart that talks about the first-year tax relief. That is not a fair measurement of what this bill does. This is what the bill does over the 10 years. It gives 70 percent of the benefits to the top 20 percent, and gives 1 percent of the benefits to the bottom 20 percent. It gives 33 percent of the benefits to the top 1 percent, twice as much as the bottom 60 percent receive. There is no way of disputing this. This is what the bill does. That is exactly what it does. The fact is, this bill is heavily weighted to the highest income people in the country. The fact is, 80 percent of the taxpayers of this country pay more in payroll taxes than they pay in income taxes.”