Political Quotes

On the recordOctober 25, 1992
Well, that would be a flat tax, and it's pretty hard to get because I think a lot of people would think that's unfair. They think it's unfair that a rich guy would pay the same as the person that's really struggling to make ends meet. Here's my view on the tax situation: I believe this is where we have perhaps the major difference with the Clinton-Gore program, because I went along with the Democratic tax increase one time and I made a mistake. I said I did the wrong thing. Quite different than Governor Clinton that has to have it both ways on every issue. When you screw something up, you say it. You say, ``I was wrong.'' But now let's move forward and hold the line on the taxes. We don't need to raise taxes at all right now. We just don't need to do it. But what we need to do is control the growth of spending. Two-thirds of the budget, two-thirds of the Federal budget, never comes to the President of the United States. One-third does. We've got caps now, out of that budget agreement that I don't like, but out of it we did get one good thing. That was caps on the discretionary spending. On the mandatory programs, it's just free- flowing. So we've got to control their growth, and then stimulate business. Here's what I want to do in the way of taxes: I want an investment tax allowance, I want a capital gains cut. It is not a tax for the rich. It will stimulate new business, small business. And I want a credit for the first-time homebuyer so that the guy, a family, young family trying to buy their first home, gets a $5,000 credit. And that will stimulate not only the housing industry but all the other businesses that go with it. The flat tax is a--I don't believe it's even possible to get done, so I think we've got to stay with what we've got, but hold the line on it. Energy Policy
Said by
George H.W. Bush
Republican · Texas

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