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Sequester Replacement Reconciliation Act of 2012

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. McCLINTOCK. I thank the gentleman for yielding.

Mr. Speaker, we've heard a lot about fairness, which the Democrats have defined to mean taxing businesses to finance a variety of welfare programs.

The problem is businesses do not pay business taxes. Business taxes can only be paid by consumers through higher prices; by employees through lower wages; and by investors--mainly pension funds--through lower earnings. There is no other way to pay a business tax.

So the net effect of pursuing their definition of ``fairness'' is to push more consumers into debt, push more employees into unemployment, and push more retirees into poverty, which in turn requires more and more government welfare spending until their financial house of cards collapses. That's the economic spiral their policies are producing in our time.

The House budget, which this act advances, breaks that cycle and restores policies that throughout our history have lifted our Nation from times of want and despair to eras of prosperity and abundance.

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