James Whittier Parker: “Let me tell my colleague, the gentleman from Georgia [Mr. Kingston], an interesting thing. The change in the…”

“Let me tell my colleague, the gentleman from Georgia [Mr. Kingston], an interesting thing. The change in the depreciation on the alternative minimum tax, let me tell him what it means. If you have got a business and you reinvest in equipment, you have a depreciation which is not a gift from the Government, but the Government allows you to reinvest and you subtract, over the life of that equipment you subtract the amount of cost that you have invested so that you can provide more jobs, so that you can produce more products, so that you become more productive. The amazing thing about it is that with the alternative minimum tax on the depreciation side, what has happened through the years is that even though you get this depreciation, you are in a situation where you lose that depreciation by paying a minimum tax even though you are investing in your business. Now what I find fascinating is you cannot have it both ways. The liberals in this country do not realize, or even if they realize they do not want to talk about the situation in which we find ourselves where companies are penalized for investing in their companies.”