Political Quotes

“Mr. President, when you serve as the Secretary of Treasury, you are charged with a variety of responsibilities, and right at the center of your duties is to address taxes. This is an area that the nominee to head the Treasury Department, Mr. Steven Mnuchin, waded into very early on after his nomination became public. News leaked on November 29 of last year that Mr. Mnuchin was the President-elect's choice for Secretary of the Treasury. The very next day, Mr. Mnuchin appeared on a CNBC program and confirmed his selection. During an extended interview with CNBC, he introduced what I have come to call the Mnuchin rule. I will quote Mr. Mnuchin directly with respect to what he said: ``Any reductions we have in upper income taxes would be offset by less deductions, so there would be no absolute tax cut for the upper class.'' I will repeat that last part of the Mnuchin rule: ``no absolute tax cut for the upper class.'' Mr. Mnuchin is the President's nominee for Treasury Secretary. This is a position that has been held by American economic giants like Alexander Hamilton, Albert Gallatin, Salmon Chase, Henry Morgenthau and Lloyd Bentsen. When a nominee for Treasury Secretary makes a pledge like Mr. Mnuchin's, it really ought to mean something. It ought to stand for something. Unfortunately, it already looks as though the Mnuchin rule is on the ropes.…”