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It's Not About Protecting Billionaires

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. DUNCAN of Tennessee. Mr. Speaker, in all the debate about the debt ceiling, the biggest falsehood is that Republicans want to protect the multimillionaires and billionaires. The millionaires and billionaires can take care of themselves; and, in fact, they come out ahead especially when government gets too big. And Republicans lose the superwealthy areas usually by two-to-one margins or more.

The reason we don't want tax increases is because the Federal Government is so wasteful. The least economical, least efficient way to spend money is to turn it over to the Federal Government. Look at how little good the $862 billion stimulus did. Unemployment went up.

Every dollar that can be kept in the private sector will do much more to create jobs and keep prices down. The ones who will benefit the most from more money in the private sector will be the middle- and lower-income working people. If this wasn't true, the Soviet Union and Cuba would have been heaven on Earth.

It is not about protecting billionaires--not in the least.

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