Political Quotes

“Mr. Speaker, I yield myself an additional 2 minutes. Mr. Speaker, to take full advantage of this bill, you need to have about $100,000 in income. If you even look at this bill, as the Joint Committee on Taxation has done, you will see that two out of three Americans are not expected to use it at all because it doesn't help them. And what about the one-third who will use it? They are the people, like me, like the other Members of Congress, who earn, on average, twice the median income in this country. So it does help those of us who have been successful, those at the very top who are the wealthiest. It doesn't help the rest of America. For those with the resources, the Joint Committee on Taxation looked at the huge price tag on this bill, and they said that what we are basically looking at, and I quote it, is it ``derives from taxpayers shifting savings that are allocated to other types of taxable accounts into a universal savings account'', so just moving the money around. And we now have a study that really shows what a great job these guys have done with reference to this concept. It is a study that shows, for every dollar of additional debt you get--a little bit of a similar program that was studied--you get 1 penny of additional savings. That is the bargain they are offering us today, really. Spend a dollar, borrow a dollar from the Chinese, and you will generate 1 cent of additional savings.…”