I thank the gentleman for yielding. I thank him for his leadership in this body, and I thank him for his friendship. Madam Speaker, I know of no one in this body who represents greater integrity and greater honor than the gentleman from…
I thank the gentleman for yielding. I thank him for his leadership in this body, and I thank him for his friendship.
Madam Speaker, I know of no one in this body who represents greater integrity and greater honor than the gentleman from South Carolina. His district was very wise to send him to the United States House of Representatives. I want to thank the gentlelady from Tennessee who preceded me who is one of the most dynamic Members
we have in this entire body for the clarity and persuasion of her speech, a lady who knows how challenging it is for families to be able to put food on the table, put gasoline in the car, pay for their health care expenses, and knows that ultimately it is the family budget that ends up paying for the bloated Federal budget.
Now I didn't join the Budget Committee because I enjoyed numbers. In fact, I think probably the worst grade I ever made in my life was in an accounting course at Texas A&M University many, many years ago. But I joined the Budget Committee because ultimately the budget is about priorities. And, Madam Speaker, I came to this body because I believe America needs greater freedom and greater opportunity. And you can't have more freedom and more government. You have to choose between one or the other. And sometimes, Madam Speaker, especially at a time of challenging economic times, you have got to decide which is more important, a government check or a paycheck. And right now government increasingly is taking a bite out of that family paycheck to pay for bloated Washington spending.
Well, Madam Speaker, I don't know if the American people know it, but right now the Federal Government is spending over $23,000 per American family. It is the first time since World War II that the government has spent that much money, over $23,000. Madam Speaker, I wonder how many families that are listening to this debate tonight think they are getting their $23,000 worth out of the United States Federal Government.
Now some will say government has great needs. But you know what, it's not always how much money you spend in Washington that counts, it's how you spend the money. And I want a Federal Government that does a few things well, like guards my family and the families of all Americans against radical Islamic terrorists. I want a Federal Government that can control our borders. I want a Federal Government that will provide a social safety net for those who are too old, too young, and too disabled to help themselves. But outside of that, I want people to go out and have greater freedom and greater opportunity, and have the greatest welfare system known to mankind. And when I say welfare, I mean greater education, greater housing, greater nutrition. That program is called the American free enterprise system, and it is under assault. And one of the things that is assaulting it is the Federal budget.
Now let's talk about the fight that is taking place in Congress right now, and that is a fight about whether or not Americans ought to receive a huge automatic tax increase that our friends on the other side of the aisle, Madam Speaker, the Democrats, have passed into legislation.
Right now over the next 3 years there will be a huge automatic tax increase on the American people. Now is that what this economy needs now, when people are concerned about their job losses, when they are having trouble filling up their Ford F-150 pickup trucks, when they are having trouble buying milk at the grocery store? I have a 5-year-old and a 4-year-old and they're very thirsty and they drink that milk. And it is expensive.
And so the question right now is, should there be a huge automatic tax increase on the American people? Well, Madam Speaker, the Republicans think that there shouldn't be, that we shouldn't have a huge automatic tax increase. Let me tell you what the Democrats have passed.
Right now, if we don't change this, the top tax income bracket will go to 39.6 percent, an increase of 13.1 percent. Now why is that important? We always hear, well, you know, this is the wealthy and they need to pay more taxes. Well, you know who files at this rate, Madam Speaker, is small businesses. And, guess what, you can't have capitalism without capital. I used to be a small businessman. I signed the front of a paycheck. I used to sign the back of the paycheck, but I signed the front of the paycheck and I have risked capital. So now all of a sudden the Democrats have put into law a 13.1-percent tax increase on hundreds of thousands of small businesses across our Nation at the very time when they are trying to meet their payroll. What sense does that make, Madam Speaker?
Capital gains. The capital of capitalism. Democrats want to increase taxes on that 33.3 percent. If you want to talk about something that's going to send more jobs overseas, it's increasing the tax rate on capital gains. Dividends go up 164 percent. That's right, 164 percent, under the automatic tax increases that the Democrats are going to impose on us.
The death tax. You have already paid taxes on it once. You shouldn't have to visit the undertaker and the IRS on the same day, and yet that is going to go from zero up to 55 percent, Madam Speaker.
The child tax credit is going to get cut in half. And the lowest tax bracket for the lowest wage earners in America, their taxes are going to increase 50 percent. Under the Democrat plan, Madam Speaker, it is going to go from a 10 percent bracket to a 15-percent bracket.
Now is this the recipe that our economy needs? I don't think so. I don't think so. But yet Democrats tell us, well, we need more money because we've got to do all this Washington spending. Well, if you look in the rearview mirror, Madam Speaker, you will see that over the last 10 years government has grown by about 75 percent, and yet the family budget, which has to pay for that Federal budget, has only grown 30 percent.
Now ultimately something has to give. And so again our Democrat colleagues, Madam Speaker, tell us, well, we have to raise taxes. And all those tax increases that they want to impose right when the economy is having troubles, they say, well, we've got to raise taxes to somehow balance the budget.
Well, Madam Speaker, if people would look at this chart, we don't have a taxation problem, we have a spending problem. Right now the difference between this blue line and red line is this huge massive tax increase that the Democrats want to impose upon hardworking American families, on farmers, on teachers, on small businesses. And look at how much revenue it gains you. And this, Madam Speaker, not to get into too much inside baseball, is what we call a static analysis. This assumes that raising people's taxes has no impact on economic growth. We know that's not true.
So given the Democrats' every single assumption, if they do this massive tax increase which is going to amount to roughly $3,000 per American family over the next 3 years, it doesn't get anywhere close to the green line. That's the spending line. That is the line that represents the Federal Government on automatic pilot. That is if no new programs are added, that is how much is going to be spent. And what does that represent? Don't take my word for it; take the Comptroller General's word for it, the chief fiduciary officer in the United States Government. He says that line right there represents either, number one, a doubling of taxes on our children, or it represents a Federal Government that consists of almost nothing but Medicare, Medicaid, and Social Security. And anybody in charge of counting money for the Federal Government will tell you the same thing. Where is the ethic in that? Where is the morality in that? Imposing that kind of burden on the next generation? But, no, we have so many colleagues that care about the next election and not the next generation.
Almost 6 years ago I got in the next generation business because I have a 5-year-old daughter and a 4-year-old son, and I care desperately about their future. So we have to do something about out-of-control spending, and yet our colleagues on the other side of the aisle, the Democrats, every single day they add a new program, completely oblivious to the cost on our children and grandchildren, the least of these, those who cannot vote and those yet to be born.
If we are to work our way out of the economic challenges we have today, much less spare our children and grandchildren a doubling of their taxation to where we would be the first generation in American history to leave the next generation with a lower standard of living, if we are going to keep our faith with our forefathers, if we are going to show fidelity to the future generations and be good stewards
of the American dream, we have to defeat these massive Democrat tax increases. We have to defeat their massive increases in spending.
Madam Speaker, it all starts with something we call earmarks, congressional earmarks. As a dear friend of mine in the Senate, Tom Coburn of Oklahoma said, ``Earmarks are the gateway drug to spending addiction.'' There are too many bridges to nowhere, there are too many indoor rainforests. There are too many teapot museums. And the American people are waking up that all too often somebody in this body has taken a bite out of their paycheck so that some Member of Congress can keep his. The system is broken.
Republicans in this body have called for an earmark moratorium. They have called for a select committee to clean up this system where the American people too often see money going into campaign contributions. Money coming in one end of Washington, DC, and they see earmarks coming out the other end. The system is broken. It has to be changed, and all the Democrats have said is no, we are not going to join you. They have gone the complete opposite direction.
I am proud to be a member of this Republican conference that is trying to clean up this earmark mess, trying to control spending and control taxation so we can get this economy going and Americans can keep their jobs and have a brighter future for themselves and their children and their grandchildren.
I thank the gentleman from South Carolina for his leadership, and thank the gentleman for yielding me this time.