[Congressional Record (Bound Edition), Volume 156 (2010), Part 4]
[House]
[Page 5523]
[From the U.S. Government Publishing Office, www.gpo.gov]




                         TAXES AND THE ECONOMY

  (Mr. BURTON of Indiana asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. BURTON of Indiana. You know, Mr. Speaker, I get a big kick out of 
my Democrat colleagues talking about how they are doing so much for the 
poor and underprivileged in this country and giving all these tax cuts. 
The fact of the matter is the tax cuts that were passed by the previous 
administration are going to expire at the end of this year and the 
Democrats are going to let them expire, which means that in effect all 
those taxes are going to go up. That is a tax increase.
  Mr. Volcker, who was in the Carter administration and raised interest 
rates to 21\1/2\ percent that put this country into a real economic 
spiral, he is now saying that we are going to need a VAT tax, a value-
added tax of about 15 to 20 percent, which they are going to probably 
try to push through after the election. And a VAT tax of 20 percent 
would mean if you buy a $10,000 car it is going to cost you $12,000 
because you have a $2,000 additional tax tacked on.
  This is a tax and spend administration. We have the biggest deficits 
in the history of the United States. And when I hear my colleagues 
talking about all the good things they are doing for America, I wish 
they would look at the unemployment rate and look at what people are 
taking out of their salaries and what this country is going through 
economically. It ain't what they are saying.

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