[Congressional Record (Bound Edition), Volume 155 (2009), Part 14]
[House]
[Page 18490]
[From the U.S. Government Publishing Office, www.gpo.gov]




THE POLICIES OF THIS ADMINISTRATION ARE LENGTHENING AND DEEPENING THIS 
                               RECESSION

  (Mr. McCLINTOCK asked and was given permission to address the House 
for 1 minute.)
  Mr. McCLINTOCK. Mr. Speaker, I was struck by the chilling similarity 
between the broad-based taxes under the Waxman-Markey cap-and-trade tax 
we passed several weeks ago and the Smoot-Hawley Tariff Act of 1930 
that economists blame as one of the major factors in producing the 
Great Depression.
  Another of Hoover's blunders was the Emergency Relief and 
Construction Act of 1932. Its centerpiece was a radical increase in 
income tax rates from 25 percent to well over 50 percent.
  If that sounds familiar, it should. That's one of the financing 
proposals in the health care bill that would push State and Federal 
income tax rates to more than 50 percent in most States.
  Mr. Speaker, when I see the same policies from this administration 
that turned the recession of 1929 into the Depression of the 1930s, I'm 
reminded of Ben Franklin's observation that ``experience keeps a dear 
school, but fools will learn in no other.''
  Mr. Speaker, these policies are lengthening and deepening this 
recession because this administration did not even learn from 
experience.

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