Political Quotes

“In 1993, the $240.6 billion tax increase that came about in 1993 is something that people in this Nation stood up and said we are not going to stand for this. I think another one that we could add to the reading list of those who are fiscal conservatives is Road to Serfdom, which is a book, and I would commend that, Mr. Speaker, to all of our colleagues, to go back and read that work by a wonderful economist, Friedrich Hayek. And it talks about how, when you tax more and government spends more, and you take more from your people in a Nation, that you're walking on that Road to Serfdom. As the gentleman was saying, we look at the rate of taxations based on our GDP, where we are right now in 2007, and many of us feel like this is too high. We are under 20 percent. You can see by looking at the bars, the red one is net interest. Social Security is the purple area. Medicare and Medicaid is the orange area, and then you have all other spending, which is in green. Look at this chart, and look at what happens from 2007 to 2015, where we move above that 20 percent. Look what happens by 2030, when meeting the cost of your entitlements and your interest are going to take all revenue coming in on our current percentage of taxation.”