[Congressional Record (Bound Edition), Volume 156 (2010), Part 10]
[House]
[Page 14097]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              THE DEFICIT

  (Mr. COHEN asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. COHEN. Madam Speaker, you listen to the rhetoric in this hall and 
you hear a lot of talk from the folks on the other side of the aisle, 
the Republicans, about the deficit. It's very simple. There are two 
ways you deal with the deficit. Number one, you reduce spending or, 
number two, you increase income, and the way you increase income is you 
have more tax revenue. The two biggest ways you can get more tax 
revenue is taxing the most wealthy people in the country who can afford 
it.
  The Republicans don't want to eliminate the tax cuts to the upper 1 
and 2 percent of the population, people making over $250,000 a year, 
and they don't want require that to be a PAYGO. They just want those 
people to keep getting those tax breaks that were reduced 8 years ago. 
They're concerned about the inheritance tax, people that might inherit 
over $3.5 million a person. They're concerned about them. That's who 
they're concerned about, not middle class families who got the largest 
tax cut in history with the American Recovery and Reinvestment Act that 
not a Republican voted for. It was a Democratic bill, and the balanced 
budget under the Clinton years, all Democrats, a balanced budget.
  So if you want to reduce deficits, you need to support the Democrats 
who do the hard lifting and see that we have revenue as well as 
responsible spending.

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