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Senate Proceeding 07-29-08 on Jul 29th, 2008 :: 0:42:47 to 0:50:52
Total video length: 3 hours 38 minutes Stream Tools: Stream Overview | Edit Time

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Charles Schumer

0:36:05 to 0:42:47( Edit History Discussion )
Speech By: Charles Schumer

Charles Schumer

0:42:29 to 0:42:47( Edit History Discussion )

Charles Schumer: will have a chance to look at it. with that, madam president, i yield the floor so that my colleague from iowa can speak. the presiding officer: m grassley: madam president? the presiding officer: the

Chuck Grassley

0:42:47 to 0:43:06( Edit History Discussion )

Chuck Grassley: senator from iowa. mr. grassley: two days ago i came to the floor to talk about tax policy and the history of tax policy. i come to follow up that speech two of days ago to talk about the recent history

Chuck Grassley

0:42:47 to 0:50:52( Edit History Discussion )
Speech By: Chuck Grassley

Chuck Grassley

0:43:06 to 0:43:23( Edit History Discussion )

Chuck Grassley: of speeches that were m ade in past presidential elections and the tax policy that was associated with those spoaches -- those speeches and in another day or two come to the floor to speak about the different

Chuck Grassley

0:43:23 to 0:43:41( Edit History Discussion )

Chuck Grassley: tax policies between senator obama on the one hand and senator mccain on the other hand. but i think history is very, very important. elections have consequences. policy coming out of -- an election

Chuck Grassley

0:43:41 to 0:43:53( Edit History Discussion )

Chuck Grassley: has consequences and event ually affects real people. the impact of the voter -- past elections, what people said in those elections, what happened after the election in the policy ought to be things

Chuck Grassley

0:43:53 to 0:44:06( Edit History Discussion )

Chuck Grassley: people are taking into consideration because of the upcoming presidential he leks. and in that speech -- presidentially liks. and in that -- presidential election. and in that speech i gave just a couple

0:44:06 to 0:44:20( Edit History Discussion )

of days ago -- and i want to go back and comment about the speech i gave. during the past 25 years accident we've had times when the democrats have controlled both the presidency and -- both the presidency

0:44:20 to 0:44:38( Edit History Discussion )

and the congress. there's been times that -- that the democrats have controlled congress and we've had a republican president. and there's been times when we've had beth a republican president and

0:44:38 to 0:44:54( Edit History Discussion )

a republican congress. and tax cuts or tax increase have come -- resulted from that. and you final a pretty good of when you have both a democratic congress and a democrat president, you have big

0:44:54 to 0:45:11( Edit History Discussion )

tax increases, as is the case here in 1993, if you remember uks the big tax increase of 1993. then there's periods of time when we've had a republican president and a republican congress and you

0:45:11 to 0:45:30( Edit History Discussion )

about key can see tax decreases, very deep decreases in taxes. and you have a period of time in here where it's a little blurry. system tack cuts, some tax increases when we had a republican president

0:45:30 to 0:45:46( Edit History Discussion )

and a democrat congress. so elections do have consequences.| another cha rt that would show it a l aittle better and more specifically would be this thermometer chart where we have very clear when you

0:45:46 to 0:46:01( Edit History Discussion )

have -- times when you have a democrat president and a democrat congress, you have some of the biggest tax increases in the history. that would be this figure here. there's times you have had a republican

0:46:01 to 0:46:17( Edit History Discussion )

president and a democrat congress, some tax increases but a little bit less. there's times you have a democrat president and a republican congress, slight tax decreases. when you have a republican president,

Chuck Grassley

0:46:17 to 0:46:29( Edit History Discussion )

Chuck Grassley: a republican senate and a democrat house, you have some tax decreases but not very much. and then you have times when you have a republican president, a democrat senate, and a democrat -- and a republican

Chuck Grassley

0:46:29 to 0:46:44( Edit History Discussion )

Chuck Grassley: house, and you have tax decreases but not by very much. and then you have times when you have a republican president and a republican congress and you have deep tax cuts. so what this chart shows over

Chuck Grassley

0:46:44 to 0:47:07( Edit History Discussion )

Chuck Grassley: the last 25 years, this thermometer shows over the last 25 years, that if you have republican presidents and republican congresses you have deep tax cuts. when you have democrats controlling both

Chuck Grassley

0:47:07 to 0:47:22( Edit History Discussion )

Chuck Grassley: the presidency and the congress you have very rapid tax increases. so i want -- so elections do have consequences. and i want to go now to a period of time of a specific election and the tax consequences

Chuck Grassley

0:47:22 to 0:47:38( Edit History Discussion )

Chuck Grassley: that came as a result of that election. but i think you've got to realize that the relationship is clear from the past 25 years. the more relative power democrats have, the higher the probability of

Chuck Grassley

0:47:38 to 0:47:54( Edit History Discussion )

Chuck Grassley: a tax increase. so americans will need to think long and hard about campaign promises, of tax relief as they consider their choices in this presidential election. the reason is, history, shows very

Chuck Grassley

0:47:54 to 0:48:09( Edit History Discussion )

Chuck Grassley: clearly if democrats obtain the white house and control of congress, taxes are certain to go up and not just go up on the wealthy but across the board. today, i'd like to follow up last week's discussion.

Chuck Grassley

0:48:09 to 0:48:23( Edit History Discussion )

Chuck Grassley: this week i want to focus on the campaign season most like this one and take a look at how the victors in that campaign use their taxing power once sworn in. the period i'm thinking about is 16

Chuck Grassley

0:48:23 to 0:48:38( Edit History Discussion )

Chuck Grassley: years ago. well, 16 years ago you can learn a lot from history and i think people ought to be remind of it. before i get into details, i'd like to say i hope the election doesn't go the same way that

Chuck Grassley

0:48:38 to 0:48:58( Edit History Discussion )

Chuck Grassley: it did 16 years ago because president bill clinton was elected. i want people to know i'm pulling for our republican colleague, senator mccain, to defeat another one of our senate colleagues,

Chuck Grassley

0:48:58 to 0:49:23( Edit History Discussion )

Chuck Grassley: senator obama. so let's turn the clock back to this time 16 years ago. i have another chart. this chart continues the story of rip van wink el, a person who slept for 20 years. here's a chart of

Chuck Grassley

0:49:23 to 0:49:41( Edit History Discussion )

Chuck Grassley: rip van winkel. it is almost 20 years since that 1992 campaign. you will see from this chart those events from a while ago, might have led to a form of tax hike amnesia. if we go back to the 1992

Chuck Grassley

0:49:41 to 0:49:56( Edit History Discussion )

Chuck Grassley: campaign -- and i'll show you eventually how this is pretty appropriate to the campaign coming up -- in 1992 you find a very charismatic, a very likable, a very articulate young govern from arkansas barn

Chuck Grassley

0:49:56 to 0:50:10( Edit History Discussion )

Chuck Grassley: storming across the country. bill clinton was 46 years old, facing a 47th birthday if in mid-august and widely acknowledged as a most talented public speaker on the presidential scene since ronald reagan.

Chuck Grassley

0:50:10 to 0:50:34( Edit History Discussion )

Chuck Grassley: america had been in a recession at that time. although it was in the reported until after the election which is something you might expect from our liberal media, the american economy had recovered

Chuck Grassley

0:50:34 to 0:50:52( Edit History Discussion )

Chuck Grassley: in the "los angeles later half of 1992 but not officially announced until the day after the 1992 election. will all of a all of a sudden after the election the recession was over. magic: electrics day,

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