A Quote by Tom Steyer
Tax cuts for the rich defund the critical public programs on which American families depend.
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Over the past 100 years, there have been three major periods of tax-rate cuts in the U.S.: the Harding-Coolidge cuts of the mid-1920s; the Kennedy cuts of the mid-1960s; and the Reagan cuts of the early 1980s. Each of these periods of tax cuts was remarkably successful as measured by virtually any public policy metric.
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.
Sadly, this is the same old Republican story of Robin Hood in reverse - tax cuts for the rich while programs for average and low income Americans suffer.
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.
What the Trump tax plan is a plan to give tiny little tax cuts to most Americans, raise taxes on perhaps one in five families and shower benefits on people who earn millions of dollars a year. And this fits with a fundamental principle the Republicans have been pursuing for a long time. The rich aren't investing and creating jobs, because they don't have nearly enough money, and so we need to get them money. And the way the Republicans want to get it to them is tax cuts first, and then to take away help for children, the disabled, the elderly and the poor.
What Mae West said about sex is true about taxes. All tax cuts are good tax cuts; even bad tax cuts are good tax cuts.
Notably, the Trump tax cuts also doubled the child tax credit, reducing the tax burden on working families so that they have more resources to devote to their children.
Look, I'm very much in favor of tax cuts, but not with borrowed money. And the problem that we've gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don't think we can play subtle policy here.
When it comes to serious cuts to major programs like Medicaid, the American people are not calling for leadership but magic. They want cuts with no pain.
Ladies and gentlemen, the Reagan tax cuts turned the deepest recession since the Great Depression into the largest 20-year economic boom in American history. The Reagan tax cuts of 1981 and '86. And the same thing can happen here again. Democrats just cannot let it.
I think that [Barack Obama] does say something that's - that is telling on that score, when he talks about the [George W.] Bush tax cuts and the swap he makes after the midterm elections, which is he doesn't agree with the Bush tax cuts.
My healthcare plan puts more money into average families' pockets than the Bush tax cuts... He's got a lousy tax cut. It's only good for the super wealthy. I've got a tax cut that will help ordinary people.
It was absolutely critical to renew the Bush tax cuts. Letting them expire would result in a massive tax increase that would retard economic growth.
Tax avoidance and evasion by the rich undermine democracy by starving social programs and public services. They also send a message to ordinary citizens that the rules of the economic game are rigged against them.
Budget cuts if you're not rich, tax cuts if you are. Less money for those who don't have any and more to those who do. That's how President Fredo says we're going to get out of the giant deficit hole he's dug. You can't put it any more simply. Rich people richer. Poor people poorer.
Tax cuts are an investment in working families.
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