Political Quotes

“What I am trying to do is offer an amendment that will preserve current law so in 3 years, in the case of the death tax, and 2 years, we don't hit people with a tax increase, at a time when we don't need to be raising taxes, at a time that we live in a global economy. When it comes to the death tax, one in three small business owners is never able to pass their business on to the next generation because, when they die, the assets are evaluated in such a way that people have to break up the business to pay the taxes or they have to sell the family farm. That is not what we need to be doing in America. That is not fair. The capital gains taxes are at 15 percent under current law. In 2011, they go to 20 percent. There are over 9 million families and individuals who will claim capital gains, and if this amendment doesn't pass and we don't do something about this, there are going to be 9 million families hit by a tax increase out there, at a time when our economy needs more money in the private sector, not in Washington. As to dividends, there are a lot of people in this country--24 million families and individuals--who receive dividend income. Under current law, it is taxed at 15 percent. In 2011, the dividends go back to regular income tax rates--a dramatic increase. What does that mean? That means owning stock becomes less attractive. There will be less people buying stock and receiving dividends from purchasing stock.”