Paul Ryan: “Absolutely. When we take a look at the family farmer, who purchased an asset, or maybe inherited the family farm in…”

“Absolutely. When we take a look at the family farmer, who purchased an asset, or maybe inherited the family farm in their early years, went on to sell it later on, they are going to face a capital gains tax in excess of 20 percent, sometimes nearing as much as 100 percent, because they are taxed on that inflated gain on that asset. As we take a look at what we can do to get this economy going again, because a lot of people have lost their jobs and a lot more are losing their jobs, the jobless rate is the highest rate of growth it has been since 1981, 1982, we know we need to get people back to work. And when we sit here in Congress trying to figure out how we can grow jobs and retain jobs through growing the economy, we look at what works and what does not work. I notice my colleague from Pennsylvania was talking about what did the second largest economy in the world do; what have they been trying to do; what have we tried to do in our Nation's history. Look at Japan, and like the gentleman from Pennsylvania said, 10 different stimulus packages of federal infrastructure spending and rebate checks, and just as many recessions. They have a debt-to-GDP ratio of 130 percent. They have spent themselves deeply into debt. Their long-term interest rates are about 1.2 percent, their short-term rates are about zero. They cannot cut interest rates any more. They cannot increase their money supply. They do not have an economy where they can even save. And what did they get from it?…”