Bill Pascrell: “I have heard in the last few moments about trickle-down economics--you know, here we go again--and I heard the quote of…”

“I have heard in the last few moments about trickle-down economics--you know, here we go again--and I heard the quote of what works and what doesn't work. Let me tell you what doesn't work. If you look back just a few years ago, in 2000, we had a 4.2 percent unemployment rate. By the end of 2008, we had doubled it. Not one word about that. Those 8 years have disappeared from your memory. By the beginning of 2009, the concentration of wealth amongst the top 1 percent was only matched by the period immediately before the Great Depression. So let's get it straight. In this piece of legislation, everyone gets a tax cut, even Sammy Sosa--I don't know if he's playing anymore--and even Derrick Jeter. They all get a tax cut up to $200,000. Of course, if they're couples, it's $250,000. Even billionaires will get a tax cut up to $250,000. You have never communicated it because you have never told the total truth. This legislation is very specific about how we are going to help the middle class. I believe a 5-year extension would be better. I don't believe we should extend any tax cut indefinitely, but I am going to vote for this bill because I refuse to allow the middle class to be the victims of partisan gridlock.”