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House Proceeding on May 10th, 2006 :: 1:51:55 to 1:56:23
Total video length: 3 hours 4 minutes Stream Tools: Stream Overview | Edit Time

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Alcee L. Hastings

1:50:42 to 1:51:55( Edit History Discussion )
Speech By: Alcee L. Hastings

Alcee L. Hastings

1:51:41 to 1:51:55( Edit History Discussion )

Alcee L. Hastings: the middle income households receive an average cut of $20, which is probably, what, less than half a tank of gas. according to brookings institute, which i think gives figures we use very often here,

Louise McIntosh Slaughter

1:51:55 to 1:52:08( Edit History Discussion )

Louise McIntosh Slaughter: while .02% of the households, those with incomes over $1 million, would receive an average tax cut of $42,000, the bill represents a classic example of what economists call trickle-down economics.

Louise McIntosh Slaughter

1:51:55 to 1:56:23( Edit History Discussion )
Speech By: Louise McIntosh Slaughter

Louise McIntosh Slaughter

1:52:08 to 1:52:19( Edit History Discussion )

Louise McIntosh Slaughter: by cutting capital gains and dividend taxes, by reducing the revenue the federal government receives, and redirecting it to the covers of big business and the superwealthy, our majority

Louise McIntosh Slaughter

1:52:19 to 1:52:31( Edit History Discussion )

Louise McIntosh Slaughter: tells us they are going to spur investment and create new jobs. they told us the same thing in the 1980's, too. and it didn't work. instead of reinvesting that money in our economy and corporations

Louise McIntosh Slaughter

1:52:31 to 1:52:43( Edit History Discussion )

Louise McIntosh Slaughter: and superrich, send our tax dollars overseas along with our jobs. we ended up with out-of-control deficits and the largest debt in america's history, superseded only by the debt we have today.

Louise McIntosh Slaughter

1:52:43 to 1:52:57( Edit History Discussion )

Louise McIntosh Slaughter: and ironically the very man who originally labeled down trickle-down theory as voodoo economics, our current president's father, lost his own presidency because the stagnating economy and staggering

Louise McIntosh Slaughter

1:52:57 to 1:53:07( Edit History Discussion )

Louise McIntosh Slaughter: debt that became the legacy of trickle-down economics in the 1980's. so why would they be proposing a failed policy once again? today's "washington post" may have the answer. it described what is truly

Louise McIntosh Slaughter

1:53:07 to 1:53:19( Edit History Discussion )

Louise McIntosh Slaughter: falling this majority, a bankruptcy of ideas. with republicans it's the same story again and again no matter the results. what they have given us, mr. speaker, is a commitment to a legacy

Louise McIntosh Slaughter

1:53:19 to 1:53:26( Edit History Discussion )

Louise McIntosh Slaughter: of failure. the only difference is the day the american people's eyes are wide open. i yield back the balance of my time. the speaker pro tempore: the gentlewoman yields back the balance

Louise McIntosh Slaughter

1:53:26 to 1:53:36( Edit History Discussion )

Louise McIntosh Slaughter: of her time. the gentleman from washington. mr. hastings: i'm pleased to yield as much time as he may consume again to the distinguished chairman of the rules committee. mr. dreier: i thank my friend

Louise McIntosh Slaughter

1:53:36 to 1:53:49( Edit History Discussion )

Louise McIntosh Slaughter: for yielding. my friend from pasco understands this well and he's done a great job of providing leadership on these economic growth issues. mr. speaker, my friend from rochester, and my friend from

Louise McIntosh Slaughter

1:53:49 to 1:54:00( Edit History Discussion )

Louise McIntosh Slaughter: fort lauderdale are two people for whom i have the highest regard. i really do. i enjoy working with them on the rules committee. and i just had the thrill of participating in the canada-u.s. interparliamentary

Louise McIntosh Slaughter

1:54:00 to 1:54:13( Edit History Discussion )

Louise McIntosh Slaughter: conference with my friend from rochester dealing with areas of concern as it relates to our neighbor to the north. but i just have to say as i listen to the arguments that are being propounded

Louise McIntosh Slaughter

1:54:13 to 1:54:25( Edit History Discussion )

Louise McIntosh Slaughter: by both of my friends on that side of the aisle, they really represent little more than what i describe as the ideological baggage of past. my friend from rochester has talked about the

Louise McIntosh Slaughter

1:54:25 to 1:54:38( Edit History Discussion )

Louise McIntosh Slaughter: 1980's. it is true that we saw a tremendous increase in spending during the 1980's, a lot of increased spending in the area of national defense, and we saw the demise of the soviet union, the

Louise McIntosh Slaughter

1:54:38 to 1:54:58( Edit History Discussion )

Louise McIntosh Slaughter: cold war came to an end. during the 1980's, mr. speaker, because of the 1981 economic recovery tax act, i think i'm the only member on the floor now who was here at that time, i'm very proud to

Louise McIntosh Slaughter

1:54:58 to 1:55:13( Edit History Discussion )

Louise McIntosh Slaughter: have voted for that, we put in to place across-the-board tax rate reductions, marginal rate reductions. mr. speaker, what happened? . people continue to try and rewrite the history of

Louise McIntosh Slaughter

1:55:13 to 1:55:28( Edit History Discussion )

Louise McIntosh Slaughter: the 1980's and somehow implying that we saw the u.s. economy go right into the tank. we saw a surge in economic growth and a doubling in that flow of revenues to the treasury. and so i

Louise McIntosh Slaughter

1:55:28 to 1:55:40( Edit History Discussion )

Louise McIntosh Slaughter: think that this notion of class warfare, us versus them, is a tired old failed one. now my friend just referred to the tax reduction that americans earning $40,000 will get, juxtapose

Louise McIntosh Slaughter

1:55:40 to 1:55:54( Edit History Discussion )

Louise McIntosh Slaughter: to someone earning hundreds of thousands of dollars a year that will get a $41,000 tax reduction. and he referred to the fact that someone will earn $40,000 and get a very small tax cut

Louise McIntosh Slaughter

1:55:54 to 1:56:08( Edit History Discussion )

Louise McIntosh Slaughter: and that person in the upper bracket will get a $41,000 tax cut. i mean, i would ask my friend, does he advocate that the person earning $41,000 a year get a $40,000 tax cut? the point

Louise McIntosh Slaughter

1:56:08 to 1:56:23( Edit History Discussion )

Louise McIntosh Slaughter: being, -- the point be -- i would like to yield to my friend. mr. hastings: absolutely not. mr. dreier: the point that i'm making, mr. speaker, if you look at someone who is paying taxes,

David Dreier

1:56:23 to 1:56:36( Edit History Discussion )

David Dreier: you look at what their tax liability is, and, again, i get to the point that we raised that we have seen the american people who are earning in excess of $200,000 a year, mr. speaker, having

David Dreier

1:56:23 to 2:01:14( Edit History Discussion )
Speech By: David Dreier

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