Political Quotes

“Mr. President, to sum up, in essence what this Republican alternative does to the majority budget, it simply cuts taxes, reduces revenues, and the principal tax cuts are the time-honored capital gains tax cut which we know from past experience inures primarily to the benefit of those in the upper income brackets. It also includes a back-loaded IRA which also inures primarily to those in the upper income brackets. It includes a $500 child credit which is not capped, so a family making a million gets the same credit as one that makes $30,000 and one that makes $16,000 or less gets no credit at all under this particular proposal. It pays for all of these tax cuts that are primarily aimed at upper income taxpayers, it pays for these tax cuts by cutting Medicare and Medicaid by $144 billion over the next 5 years. This is simply going to mean that many rural and urban hospitals are going to go out of business. It is simply going to mean that private health insurance premiums are going to go up because employers and employees who have private health insurance are going to have to make up the difference from these Medicare and Medicaid cuts. It also pays for these tax cuts with cuts in discretionary spending, cuts that affect the infrastructure, cuts that affect a whole host of programs.”