[Congressional Record (Bound Edition), Volume 156 (2010), Part 11]
[House]
[Page 15751]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    DON'T CUT TAXES FOR MILLIONAIRES

  (Mr. YARMUTH asked and was given permission to address the House for 
1 minute.)
  Mr. YARMUTH. Mr. Speaker, our Republican colleagues are constantly 
reminding us that the administration last year said that unemployment 
would not get to 8 percent if we passed our Recovery Act. Well, that 
remains to be seen. But let's talk about a projection that they made 
some years ago that they don't want to talk about, and that's that we 
were going to have endless surpluses. They used that prediction of 
endless surpluses to justify cutting taxes for the wealthiest people in 
the United States.
  Well, those people had a great decade. On average, $100,000 savings 
on taxes during that time. Did they create more jobs because they cut 
their taxes? No. In fact, we had actually the most stagnant period of 
private sector job growth in modern history.
  So now, when we don't have an endless surplus, in fact, a very large 
deficit, and we need job creation, they say, Oh, let's cut their taxes 
again. It wasn't good enough that the average millionaire had his or 
her net worth increased by 16 percent in 2009 while every other 
American stagnated. No. They want to make it a little bit better for 
the wealthiest people in America.
  We want to cut taxes for middle class America and not millionaires.

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