Madam Speaker, I thank the gentleman from Louisiana for yielding. Madam Speaker, the last time this Nation passed major tax reform, yours truly weighed 112 pounds at the beginning of wrestling season. I had a full head of hair, I never set…
Madam Speaker, I thank the gentleman from Louisiana for yielding.
Madam Speaker, the last time this Nation passed major tax reform, yours truly weighed 112 pounds at the beginning of wrestling season. I had a full head of hair, I never set foot west of Mississippi, nor outside the United States of America.
Madam Speaker, the last time this country addressed tax reform, the Soviet Union was welcoming a new leader
named Mikhail Gorbachev. It has been too long.
It is an honor to represent the Fifth District of Virginia because I think it is historically unique. I have spoken from this podium and this floor about the amazing characteristics of that particular historical region.
Among the great individuals from the Fifth District of Virginia was a flawed man, an imperfect man, a slaveowner named Jefferson, who gave us a near-perfect document, named the ``Declaration of Independence.''
While not perfect, Jefferson had perfect insight, and, perhaps, you could argue he was prescient when it is said that he said: ``I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.''
It has been enlightening tonight to stand on this floor. If you are watching at home, I suppose that you can turn the volume down on C- SPAN, because I don't intend to yell, as so many others have before me. And I will tell you that it is funny to listen to my colleagues across the aisle who say: This is a 429-page bill.
I would point out that saying the number of pages doesn't actually make the bill longer and that the Affordable Care Act, that they had us pass, so that we could find out what was in it, was 2,300 pages with over 20,000 pages of regulation. So there is a little disingenuity, at the very least, for them to lament the first real overhaul in our draconian tax structure in nearly two generations by suggesting that 429 pages is a long document, when such a hearty and robust undertaking is afoot.
Madam Speaker, I would submit that the government needs the people and not the other way around. That is what makes us the United States of America.
It is a clever ploy to attack the rich and the job creators, but let me point out the fact that 97.3 percent of taxes are paid by the top 50 percent of wage earners. So, therefore, when you attempt to cut taxes for working class people, someone who is in the 51st percentile will, indeed, receive a tax cut, but they are, by no means, rich.
It is a clever ploy to attack corporations, because corporations don't have faces, but people do.
And who do corporations provide jobs for?
People.
President Obama acknowledged that our corporate tax structure was among the most backward in the world, and it needed to be addressed, but he didn't address it. President Obama acknowledged that the Affordable Care Act had ``real problems,'' but no one on the other side of the aisle will address them. So, too, did President Clinton. That is two Presidents from the other side of the aisle in a row, but no one will address them. Instead, we will create fear and demagoguery and attack faceless corporations, because faceless corporations don't have faces, but people do.
We need to stop destroying jobs and opportunity and prosperity through the demagoguery of class warfare, attacking corporations, without acknowledging that the very people who benefit from their existence are the people who have the opportunity to send their children to college, to make memories on a vacation, to pursue and achieve dreams, to marry the love of their life with the very incomes achieved by these corporations.
Now, let's talk a little bit about corporations, because I know something about corporations, and we know something about corporations in Virginia's Fifth District.
Dan River Mills stood in Danville, Virginia--a company started in 1881. It closed its doors in 2006. In 2008, the smokestacks from Dan River Mills that had been a symbol not only of the skyline of that once thriving town, but also an identifying factor in the landscape of the city, were torn down as jobs went away.
Another corporation, Burlington Industries, Klopman Mills, in Pittsylvania County, hurt Virginia, and prospered from 1940 through 2007. When they left, over 1,000 jobs went with them as well. And the real estate for the property that once employed generation after generation, sending innumerable children to college, and fulfilling the humble dreams of working class Virginians, sold for a paltry $750,000.
Vaughan-Bassett Furniture--and I would commend to anyone watching at home, the book ``Factory Man,'' by Beth Macy, which chronicles John Bassett, III's struggle to keep 700 furniture jobs in this country, in my district--that corporation changed people's lives and gave them jobs.
Lane Manufacturing, for generations it was a tradition--in my part of the world, at least--that a young woman, prior to being married, might receive a Lane cedar chest--a hope chest. In fact, no less an iconoclast than Shirley Temple was used to peddle Lane cedar chests as something that would be an aspirational goal for a young, working class woman, as she set forth on pursuing the dreams of her life. From 1902, until just about 15 or 20 years ago, hundreds and hundreds of jobs, in Alta Vista, Campbell County, Virginia, left.
Broyhill. So many companies--some still around--all shadows of their former selves, as corporate money and jobs went offshore.
And why?
Because we have incentivized the departure of the very means by which our families have prospered and done so in order to vilify an entity incapable of defending itself, while neglecting to understand that the beneficiaries of the opportunity created thereby were their very neighbors and those who, in their demagoguery, they said they worked to protect.
Last year, in Danville, Virginia, the Goodyear Tire and Rubber Company, who is still there--God bless them--had a cookout for the employees of Goodyear Tire, and the family members, thereof, and anybody who had ever worked for Goodyear Tire. They thought maybe there would be 800 or 1,000 people who attended this cookout. By the time it was over with, you couldn't get a pack of hotdog buns from a Food Lion within 30 miles, because that 1,000 people became 2,000 people, and became 3,000 people, and became nearly 4,000 people. These people didn't come to eat a hotdog with Goodyear Tire. They came to eat a hotdog with their family, their friends, and their community.
I stood last week at Piedmont Precision Machine Company, in Danville Pittsylvania. I looked at $1.6 million worth of new equipment that allowed this American small business to continue to compete with competitors abroad. And the rich man, who owned the company, said: Tom, I am going to have to take a loan to pay my taxes. But if you pass this bill, we will make some money, I will get more equipment, and we are going to hire some more people.
So understand that people don't come to eat hot dogs with Goodyear Tire and Rubber Company, they come to eat hot dogs with their family members, their community, and people who have seen generation after generation receive opportunity, by virtue of their hard work, and opportunity provided by the very entities vilified by our opponents, without acknowledging the beneficiaries of the opportunity they provide are the very ones they purport to protect.
So Piedmont Precision Machine Company toils on. We work to attract more employers in Danville and Pittsylvania, and Henry County, and Martinsville area. Maybe Kyocera is going to come. We hope so. We think that if we get those jobs, we think that we might be able to move manufacturing jobs in high-tech to southside Virginia from Northern Virginia and California. But what I am hearing from the job creators is they want to see this thing get done. And when those jobs come from California, Northern Virginia, China, and India to Campbell County, Bedford County, Lunenburg County, and Mecklenburg County, it will be because we acted in a brave, bold manner, despite the divisive rhetoric that denies the reality that people benefit from opportunity, and opportunity is best provided, not by the government, but by people of initiative.
Now, I have heard so much rhetoric about what you oppose if you support this tax bill, so let's see if we can't flip that shoe onto the other foot. If you oppose this bill, you oppose lowering rates for working and middle-income families, while retaining the highest rate. That doesn't sound like a tax cut for the rich to me.
If you oppose this bill, you literally oppose doubling nearly the standard
deduction from $6,350 to $12,000 for an individual filer; and you oppose, if you oppose this bill, doubling the standard deduction from $12,700 to $24,000 for a married couple.
Why would people oppose that? Do they think the government can make better decisions with the money they earn than they can?
If you oppose this bill, then you oppose simplifying the Tax Code by eliminating years of carve-out deductions made for special interests.
Quite literally, a convoluted Tax Code benefits who?
Tax attorneys and accountants.
I suppose that the other side of the Chamber is the party that has a vested interest in keeping tax attorneys and accountants at work. I want to see people in Mecklenburg County at work.
If you oppose this bill, you oppose establishing a family tax credit; you oppose raising the child credit by $600 per child; and you oppose establishing a new credit of $300 per family member so that you might be able to help your mom, dad, aunt, uncle, or a disabled relative, who you choose to help in your home.
Why would people oppose that?
If you oppose this bill, you oppose reducing small business taxes to the lowest rate since the Second World War.
If you oppose this bill, you oppose establishing a super low nonpercent rate for small startup businesses making less than $75,000 a year in income.
Why would you oppose startups?
If you oppose this bill, you oppose removing incentives that drive businesses to take money and jobs overseas. Don't talk to me about that. We know something about that in Virginia's Fifth.
So, finally, let me submit this: for the folks at home, who are smart enough to figure this out on their own, if you pay $100 more because a deduction is eliminated and your taxes are cut by $1,000 or more, as would be the case for a family of four making $58,000 a year, that is not a tax increase.
I have never, to my knowledge, other than the United States Army, worked for anything resembling a corporate entity in my life, but I know a lot of human beings who have, and I have seen what happens when we, through our divisive rhetoric, drive them away.
This isn't about corporations. This isn't about the rich. This is about human beings.
I think it was succinctly summarized, if perhaps by accident, by my colleague in the other Chamber, Senator Schumer, who said:
It is our research that indicates that if you pass this,
some people's taxes might go up by 2023.
Think hard. What that acknowledges is that between now and then, people's taxes go down.
While Mr. Jefferson also said that:
The fruits of the working class are safest when the
assembly is not in session.
I would submit that if indeed these problems exist, they should work with us to improve our Tax Code, which hasn't been touched since I literally weighed 112 pounds and had a full head of hair, and to start being part of the solution and stop being part of the problem.
Again, the government depends upon Americans, not Americans upon the government.