Mr. Speaker, I rise today to express my outrage at this irresponsible and unfair tax bill. Those at the very top would get a generous tax cut, but those at the bottom would do no better. And there is no evidence that this bill would create…
Mr. Speaker, I rise today to express my outrage at this irresponsible and unfair tax bill. Those at the very top would get a generous tax cut, but those at the bottom would do no better. And there is no evidence that this bill would create even one job.
We can do better. We have the ability. We have the capacity to do better and we must do better. We owe it to the hardworking American who will not benefit under this bill, and we owe it to the 2.7 million people who have lost their jobs since President Bush took office.
This bill has no compassion, not one ounce of compassion. It is a shame and it is a disgrace and I just do not understand it. I cannot for the life of me understand how we can spend billions of dollars to rebuild Iraq, to build schools, to provide health care, and yet we cannot find a cent for the unemployed here at home. That is not right. That is not fair and that is not just. As a great Nation we must do better. I ask my colleagues to vote down this irresponsible and unfair deal.
Mr. Speaker, I rise today to express my outrage at this irresponsible, not to mention unfair, tax bill that the majority has concocted.
This bill is full of gimmicks to hide its real cost, but when all is said and done, the total cost of the President's package combined with his previously enacted tax cuts will result in a $2.8 trillion deficit by 2013.
$2.8 trillion.
That's some feat considering that this President inherited a $5.6 trillion surplus.
This bill is beyond irresponsible. And, if that weren't bad enough, this plan is unfair.
Those at the very top will get a generous tax cut, but those at the bottom will do no better.
In the first year, households with incomes of more than $1 million would receive an average tax cut of over $93,000, while households
earning between $40,000 and $50,000 would average a cut of only $452.
Despite their claims to the contrary, there is no evidence that this bill will create even one job.
Nor will it lead to sustained, long-term economic growth. It will undermine our economy and create record deficits that will burden our future generations.
The simple truth is that Republicans designed this bill to give their wealthy friends huge tax breaks, while offering nothing for those who truly need tax relief--the working families and individuals of America.
What little help they do offer to the middle class expires at the end of 2005, while the capital gains and dividend tax cuts continue through 2013. But, it's not secret that the majority intends to extend them indefinitely thereafter.
They did it before, and you had better believe that they'd do it again. And when they do, this $550 billion plan will end up costing us more than $1 trillion.
This bill is unacceptable.
We can do better. We have the ability, we have the capacity to do better, and we must do better. We owe it to the hardworking Americans who won't benefit under this bill.
And, we owe it to the 2.7 million people who've lost their jobs since President Bush took office. This bill has no compassion for them. They're left out in the cold under this proposal.
It is a shame and it is a disgrace. I just don't understand it.
I can't for the life of me understand how we can spend billions of dollars to rebuild Iraq--to build schools, to provide health care--yet we can't find a cent for our unemployed here at home.
That is not right, that is not fair, and that is not just.
As a great nation, we must do better.
I urge my colleagues to vote no on this irresponsible and unfair bill.