Scott Garrett: “And to get an idea, again, as to how that all plays out or actually where that all comes from, I gave you before a list…”

“And to get an idea, again, as to how that all plays out or actually where that all comes from, I gave you before a list, just a partial list of the tax increases that would be coming down the pike under the new Democrat majority. Let's look at it as you would look at your own income tax return in a way. Part of the tax increases that you will see will go from the top to the bottom. So you can say compassion to either the richest or the poorest. The ordinary income tax at the top rates will be going up, 35 percent to 39.6 percent. Capital gains tax, which are not only for the rich, it's for our senior citizens as well who are relying on their retirement accounts, the annuities that they have put away during the course of their life, their pensions and the like which are invested, and now they're taking those funds out as far as capital gains. That's what they're living on on a fixed income. What do we see there with capital gains, 15 percent to 20 percent. That's a 5 percent increase, or actually a 30 percent increase over the 15 percent. Dividends, likewise, increase 15 percent up to 39.6 percent, more than a double increase there. Estate taxes. Well, estate tax, of course, is something we've debated on this floor for a long time, for the small farmer, for the small business person.…”