[Congressional Record Volume 141, Number 63 (Wednesday, April 5, 1995)]
[House]
[Page H4185]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                     A HISTORY LESSON IN ECONOMICS

  (Mr. KINGSTON asked and was given permission to address the House for 
1 minute, and to revise and extend his remarks.)
  Mr. KINGSTON. Mr. Speaker, of course, the Democrats and the White 
House are concerned about the circus coming to town. They hate having 
the competition. Besides, they might get stomped on by a charging 
elephant. They already had that experience in November.
  But have they no shame? For the past 40 years, while controlling the 
House, the Democrats had deficit spending, and now suddenly they are 
deficit hawks concerned about a tax cut that might hurt the economy or 
the deficit, according to them.
  Of course, we know that Democrats love taxes, so they do not want to 
give up on any tax revenue. But I would say to my friends on that side 
of the aisle, if they would look at history, economic history, they 
would see that tax cuts actually increase revenues.
  From 1956 to 1969, taxes were down, and GDP increased. From 1970 to 
1982, taxes were up and GDP went down, revenue from taxes went down. 
From 1983 to 1988, revenue from taxes went up and taxes were down. But 
then after the 1989-90 tax bill, taxes went up and revenues went down.
  Mr. Speaker, this is economic history. It is not partisan politics. I 
would be happy to share it with any of the Members.

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