Political Quotes

On the recordJuly 27, 2010
I'm just standing here, listening to you both. When you piece this all together, their philosophy, which obviously didn't work because we saw how it ended, is to cut taxes for primarily the top 1 percent of the people--millionaires and multi-, multimillionaires--and expect that money to get reinvested. We all saw that the money was reinvested, for the most part, abroad in China and in other countries, so that was part of the offshoring. Then their philosophy was to completely look the other way. It was to take the referee off the field on Wall Street, and let those people who are making all this money continue to find out all these other schemes to make more money--that's how that ran--even to the tune of the student loans where they let banks give student loans and charge 8, 9 percent. Then the government would back the loan if somebody defaulted. So the system was set up to allow just the wealthiest people in the country to keep making money any way they saw fit.
Said by
Tim Ryan
Democratic · Ohio

Editor's note · Context

Speaker addresses the failures of tax cuts for the wealthy and their impact on the economy.

Share

More from Tim Ryan

Oct 10, 2022

Can you imagine one guy saying that on one side of his mouth, he's pro cop. And on the other side of his mouth, he's raising money for the insurrectionists who are beating up the Capitol Police?

transcripts.cnn.com
Mar 2, 2025

I know you’re hurting but it’s going to take a little time for us to right this ship.

msnbc.com
Aug 25, 2022

We have to bring these jobs back. We have to rebuild the middle class. We have to invest into these communities.

msnbc.com
Nov 16, 2022

Due to a conflict, I was not present to cast my vote on passage of S. 4524 The Speak Out Act. Had I been present, I would have voted ``aye'' on rollcall No. 480. Members Recorded Pursuant to House Resolution 8, 117th Congress Bass…

govinfo.gov

Other voices in this conversation