Kay Bailey Hutchison: “I am pleased to be able to talk about the tax burden on American families, especially because tomorrow is a red-letter…”

“I am pleased to be able to talk about the tax burden on American families, especially because tomorrow is a red-letter day. Tomorrow we call national tax freedom day because tomorrow is the day that Americans stop working for the government and start working for their families. They will pay their taxes tomorrow, and all of the work they have done between January 1 and May 7 will be money that goes to the Federal, State, or local government. That is about 40 cents of every dollar earned by the American family. To put it another way, 3 hours of every working day goes to pay Federal, State, and local taxes. For most American families, making ends meet is getting harder and harder. After paying the basics--food, clothing, shelter, and taxes-- there is not much left. With ever-higher costs for education, for health insurance, and for retirement, most people have to work today. Many families would like to have mom or dad at home taking care of children, being home when they get home from school, but they cannot afford it because they have to do the extra things to get the extras beyond the taxes, the food, and the shelter. President Clinton has not eased the burden on working families. He raised taxes on seniors who depend on Social Security, on the self-employed, and on everyone who drives a car. His tax increases in 1993 and the resulting slower economic growth has cost Americans $227 a month in earnings.”