Harry Reid: “I voted against the first tax cut. It was not an easy vote. Just on general principle you want to vote for tax cuts. I…”

“I voted against the first tax cut. It was not an easy vote. Just on general principle you want to vote for tax cuts. I believe the payroll taxes are something most people pay much more than they do in income taxes. I would like to figure out some way to give them a break from payroll taxes. I think there are ways we can reduce taxes. At first glance, you do not want to vote against a tax cut, but I had an inkling, I had a belief, I had a conviction that doing what was done with the first big tax cut would throw this country into an economic downturn, and that is what it has done. When the Bush administration took office, they promised to eliminate the national debt and spur the economy with a massive tax cut for the wealthy. They failed to deliver. Most people are not better off; they are worse off than they were 2 years ago.”