A Quote by Claire McCaskill
I don't know how anyone can keep a straight face and say they are for deficit reduction while they insist on a permanent tax cut for the wealthiest Americans, completely unpaid for.
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We certainly could have voted on making the middle-class tax cuts and tax cuts for working families permanent had the Republicans not insisted that the only way they would support those tax breaks is if we also added $700 billion to the deficit to give tax breaks to the wealthiest 2 percent of Americans. That's what was really disturbing.
We can have tax cuts, but when we have tax cuts and do not have a surplus, the amount of the tax cut goes straight to the bottom line, adds to the deficit, and the deficit adds to the national debt, and sooner or later, the debt has to be paid.
Our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve -- and I believe this can be done -- a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future.
Any Democrat who squirms on the tax-cut issue in the primaries has no chance ' zero ' to win the nomination. Each will have to take the “pledge” to oppose the Bush tax cuts. Thus, Bush will have succeeded in creating a situation where anyone who can win the nomination can't win the election. Democrats are not about to nominate anyone who backs the tax cut, and Americans are not going to elect anyone who favors a tax increase.
The Farm Bill is one of the only bills that provides substantial deficit reduction that passed the Senate this year. It only makes sense that this deficit reduction bill would be included in a larger deficit reduction agreement.
When Republicans say, 'The first thing you do when you do deficit reduction is reduce rates,' it would be like Democrats saying, 'The first thing you do when you do deficit reduction is provide free Medicare at age 55.' We'd like to do that! But it won't bring the deficit down. That's for sure.
Whenever I'm asked if the Trump tax cut is for the rich, I say yes. It is a tax cut for the rich. It is a tax cut for the middle class. It is a tax cut for small businesses. It is a tax cut for the Fortune 100.
Democrats are not about to nominate anyone who backs the tax cut, and Americans are not going to elect anyone who favors a tax increase.
If you keep tax cuts for the wealthiest, it won't stimulate the economy, but it will add to the deficit. And, really, what we have to be focused on right now is what economists would call the opportunity costs.
While the wealthiest families completely benefit from the tax cuts targeted towards the upper brackets, middle-income families were hit with the unwelcome surprise of higher taxes on tax day.
The alternative minimum tax was designed to prevent the very wealthiest Americans from overusing certain tax benefits to avoid most of their tax burden.
Instead of giving corporations a big tax cut, let's give the middle class a real, permanent tax cut.
In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. We can't afford it. And I refuse to renew them again.
When Republicans used reconciliation in 2001 for the Bush tax cuts, they used it to increase the deficit. The whole purpose of reconciliation is for deficit reduction!
You cannot cut your way to deficit reduction.
So when the only domestic social policy is tax cuts that mostly benefit the wealthiest Americans, we say, 'Where is faith being put into action here?'
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