On the recordApril 5, 2006
We have to talk to this guy. I just want to make a point because I am for tax cuts if they go to the right people, if they go to the middle class. I couldn't believe we had other people citing this, but today in the New York Times an analysis finally came out that talked about the 2003 tax cut. What this says is that among taxpayers with incomes greater than $10 million annually, their investment tax bill, just for the investments that they made, was reduced by $500,000 so they got $500,000 back, less in taxes, and total savings for someone who made $10 million a year was $1 million from the Bush tax cuts and the Republican bobble-head Congress who said yes, Mr. President, deficits do not matter. We can borrow from foreign countries to foot the bill for this. We don't have money to give a guy or woman who makes $10 million a year, we do not have the money to give them a million dollars back. We had to go out and borrow that million dollars.
Source
govinfo.gov




