[Congressional Record Volume 140, Number 40 (Thursday, April 14, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: April 14, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
           DEMOCRATS CANNOT BE TRUSTED WITH WORDS OR NUMBERS

  (Mr. ARMEY asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. ARMEY. Mr. Speaker, the White House says that the President's 
original explanation of the First Lady's dealings in the futures market 
are no longer operative. On April 15 Americans will learn that the 
administration has no more credibility on retroactive taxes than it 
does on cattle futures. The White House says that Democrats raised 
taxes only on 1 percent of the population. But the facts do not support 
this spin.
  No. 1, senior citizens with incomes over $34,000 will face a 70-
percent income tax increase on their benefits. They, of course, are not 
rich, but, as Republicans warn, this President defines rich as anyone 
who owns a wallet.
  No. 2, new taxes on motor fuel will disproportionately miss the rich, 
as this chart shows. Those with incomes below $30,000 will bear 29 
percent of the burden, and those with incomes between $30,000 and 
$75,000 will bear a staggering 46 percent of the burden; 75 percent of 
the burden of this tax falls on people with incomes under $75,000.
  Mr. Speaker, the Democrat Party line is that they only raise taxes on 
the rich, but the middle class knows that the statement is no longer 
operative, and the middle class also knows that the Democrats cannot be 
trusted with either words or numbers.

                          ____________________