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Senate Proceeding 12-02-10 on Dec 2nd, 2010 :: 1:42:35 to 1:54:50
Total video length: 4 hours 15 minutes Stream Tools: Stream Overview | Edit Time

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Ron Wyden

1:42:31 to 1:42:52( Edit History Discussion )

Ron Wyden: let's abandon any approach of raising taxes at this critical time. thank you, madam president. the presiding officer: the senator from oregon. mr. wyden: before she leaves the floor, let me just say to the senator from maine that i very much

Ron Wyden

1:42:35 to 1:54:50( Edit History Discussion )
Speech By: Ron Wyden

Ron Wyden

1:42:53 to 1:43:15( Edit History Discussion )

Ron Wyden: appreciate her thoughtful views. she continually talks about the desire to get folks to come together. i think there are a variety of ways to do it, and that's essentially what i was going to outline this afternoon. i just want to assure my good friend from maine that i'm very much looking forward to working with her on this issue, because i think we've really got a choice.

Ron Wyden

1:43:16 to 1:43:37( Edit History Discussion )

Ron Wyden: we can continue to have this debate at the margins about various approaches to extend a thoroughly discredited, insaeupbl complicated -- insanely complicated job-killing system that we've got today. or we can find a way, as democrats and president reagan

Ron Wyden

1:43:38 to 1:43:59( Edit History Discussion )

Ron Wyden: did in the 1980's to come together and put in place a reform system that will create, in my view, millions of good-paying new jobs just the way in the 1980's democrats and republicans came together and created more than 16 million new jobs. so i look forward to working with my colleague and thank her

Ron Wyden

1:44:00 to 1:44:20( Edit History Discussion )

Ron Wyden: again for her kind remarks. madam president, to pick up on this discussion, i think there really is a message for democrats and republicans together on this issue. and somehow this question of

Ron Wyden

1:44:21 to 1:44:43( Edit History Discussion )

Ron Wyden: extending the 2001 and 2003 tax legislation is almost -- has almost been a kind of tax version of clothes." we constantly get into this discussion. we've talked about this with our

Ron Wyden

1:44:44 to 1:45:04( Edit History Discussion )

Ron Wyden: kids, and we all remember this story, two swindlers spinning a tall tale about magical invisible cloth. the emperor and his ministers and all of his subjects get so caught up in the story of the magical and invisible cloth that it takes a child to point out what everybody should have seen

Ron Wyden

1:45:05 to 1:45:26( Edit History Discussion )

Ron Wyden: was obvious: the emperor has no clothes. and the fact is when you look at this question of extending the 2001, 2003 tax laws, what you will see at the end of the day is from the standpoint of

Ron Wyden

1:45:27 to 1:45:47( Edit History Discussion )

Ron Wyden: creating good-paying jobs and the opportunity to grow the economy, the emperor really doesn't have any clothes. i mean, the numbers don't add up. when tax policy, madam president, was partisan between

Ron Wyden

1:45:48 to 1:46:10( Edit History Discussion )

Ron Wyden: 2001 and 2008, there was only 2.3% payroll expansion, three million jobs, and real median income fell by 5%. so that is what we are hearing on the floor of the united states senate ought to be extending. i say to my good friend from pennsylvania, his state, like

Ron Wyden

1:46:11 to 1:46:33( Edit History Discussion )

Ron Wyden: mine, really pounded by this economy, how can we explain to our constituents that we are extending a policy that based on the facts, not on political, you know, rhetoric, produced such anemic payroll expansion, such a modest number of new jobs and a

Ron Wyden

1:46:34 to 1:46:55( Edit History Discussion )

Ron Wyden: loss of real median income? i don't think we can explain it to folks in pennsylvania and oregon. what i do think that we can explain that gets us away from this emperor has no clothes account is what happened in the 190's when a big group of democrats and republicans came together and changed the

Ron Wyden

1:46:56 to 1:47:18( Edit History Discussion )

Ron Wyden: discussion about taxes. instead of democrats and republicans beating up on each other, it became the people against the special interests. and, in effect, democrats -- leading democrats like dick gephardt and dan rostinkowski and others joined with the

Ron Wyden

1:47:19 to 1:47:40( Edit History Discussion )

Ron Wyden: president to point out inequities. i rember at one point, president reagan, somebody you sure wouldn't have thought would pass on accounts like that was troubled that he was paying a lower tax rate than his secretary. and you had democrats then talking about the desire to make sure that companies -- companies

Ron Wyden

1:47:41 to 1:48:02( Edit History Discussion )

Ron Wyden: that hire people and good wages would be in a position to benefit because they would be paying rates that would be competitive in tough global markets. and there are opportunities because i've been talking to folks in labor and folks in business to do this. why don't we take away the tax breaks for shipping jobs overseas and use that money to

Ron Wyden

1:48:03 to 1:48:23( Edit History Discussion )

Ron Wyden: lower rates for folks who manufacture in the united states states, who create good-paying jobs in hard-hit parts of oregon and pennsylvania? i would like to see companies have incentives for green manufacturing, which many of the companies in oregon want to do. to do it, why not take away some

Ron Wyden

1:48:24 to 1:48:44( Edit History Discussion )

Ron Wyden: of those tax breaks that you get from what is called tax deferral and foreign tax credit and use that money to create more employment here at home? we're not going to be able to do that, madam president, if we just reup for this discredited, broken insanely complicated tax system.

Ron Wyden

1:48:45 to 1:49:06( Edit History Discussion )

Ron Wyden: now, i said to colleagues, and senator casey, and a number of us have talked about it. that if it takes some very short-term extension of current law in order to make sure that we don't hurt middle class people and we don't hamper economic growth, i'd be willing

Ron Wyden

1:49:07 to 1:49:27( Edit History Discussion )

Ron Wyden: to look at it. i'd being willing to look at that if we really use the opportunity to then aggressively pursue bipartisan tax reform. tax reform, for example, that would do something about a tax code that nobody likes. madam president, this isn't like the health care issue.

Ron Wyden

1:49:28 to 1:49:48( Edit History Discussion )

Ron Wyden: i think my colleague understands, my friend from pennsylvania. part of what happened in the health care issue is we all saw that a lot of folks said, you know, i want to fix health care. i want to contain costs, but i sort i've got. th planet, madam president, that i

Ron Wyden

1:49:49 to 1:50:10( Edit History Discussion )

Ron Wyden: can find who makes an argument that they like the current, you know, tax code. we spend 7.6 billion hours a year to comply with tax law. it costs us almost $200 billion to comply with our tax laws annually.

Ron Wyden

1:50:11 to 1:50:31( Edit History Discussion )

Ron Wyden: that's the equivalent of 3.8 million people working full time just to comply with the tax code. at one point in the tax reform discussions, madam president, as i got on the finance committee, i brought just a portion of the books that contained the provisions of the tax code. and there are thousands of pages. in fact, we add thousands of

Ron Wyden

1:50:32 to 1:50:53( Edit History Discussion )

Ron Wyden: pages every few years. i'm 6'4, and just a portion of the books are taller than and the complexity of the code increases exponentially as nina olson, who is the taxpayer advocate at the internal revenue service has pointed out. so i offer this up -- and

Ron Wyden

1:50:54 to 1:51:14( Edit History Discussion )

Ron Wyden: my colleague is waiting to -- to speak -- only to we're asking the country to choose -- and that's why i use this emperor has no clothes analogy -- between something that we know hasn't worked.

Ron Wyden

1:51:15 to 1:51:36( Edit History Discussion )

Ron Wyden: i note, for example, that the "wall street journal", not exactly hostile to -- pointed out that george w. bush had and i quote -- "the worst track record on record for job creation. how do you make the case to the american people whether you're in pennsylvani anywhere else that you want to

Ron Wyden

1:51:37 to 1:51:57( Edit History Discussion )

Ron Wyden: anchor them to the same discredited tax system that has failed to create jobs for the entire period in which it was in effect? so, madam president, i hope as we get into this debate we look at the fact that perhaps we're

Ron Wyden

1:51:58 to 1:52:19( Edit History Discussion )

Ron Wyden: having the wrong conversation. perhaps we're having the wrong conversation in just extending the provisions to this debate about whether maybe we'll extend them for some people and we won't extend them for other people. what we ought to be saying is,

Ron Wyden

1:52:20 to 1:52:41( Edit History Discussion )

Ron Wyden: look at history. look at what happened in the 1980's when democrats and republicans came together. in fact, back then, madam president, there was almost a mirror image of what we have now. back in the 1980's you had a republican president and a republican senate and democrats

Ron Wyden

1:52:42 to 1:53:05( Edit History Discussion )

Ron Wyden: in the house. you have today almost a mirror image of that and we know when they got together in the 1980's that it created millions of new jobs. millions of good-paying jobs. i think we can do that again.

Ron Wyden

1:53:06 to 1:53:26( Edit History Discussion )

Ron Wyden: i want to spend the next two years, working with my colleagues, the senator from pennsylvania, the senator from new hampshire, senator collins, who gave a very eloquent statement on the advantages of real tax i want to spend the next two years working with colleagues on something that shows vastly more

Ron Wyden

1:53:27 to 1:53:47( Edit History Discussion )

Ron Wyden: promise for creating more good-paying jobs and economic opportunity than these choices that we're talking about here on the floor of the united states senate that in my view literally yoke us to a system that we know is not going to produce jobs. one thing if the debate was

Ron Wyden

1:53:48 to 1:54:08( Edit History Discussion )

Ron Wyden: really in question. that maybe the numbers from the 1980's were a little ambiguous and when tax policy was partisan between 2001 and 2008, the numbers were more that's not the picture. the picture is crystal clear. when we went at tax reform in a

Ron Wyden

1:54:09 to 1:54:29( Edit History Discussion )

Ron Wyden: bipartisan way in the 1980's with a democratic effort in the congress, a republican president, big win, 16 million new jobs. when we got partisan with taxes in 2001 and 2008, we jus downhill to truly anemic economic growth. the country deserves better and i would finally say, madam

Ron Wyden

1:54:30 to 1:54:55( Edit History Discussion )

Ron Wyden: president, i think this is exactly the kind of biparti work that the country was calling for at this last election. why not give it to them rather than serve up yet more that is seen as polarizing and decisive when our country is undergoing such economic anguish. madam president, with

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