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All For One and the One Gets All

Floor Speech

Location: Washington, DC

Mr. YARMUTH. Madam Speaker, a recent analysis of American tax revenues revealed that in 2010, as our country was recovering from the Great Recession, 93 percent of new income went to the top 1 percent of earners. That's $288 billion more exclusively for the 1 percent. I am sure my friends across the aisle were outraged that 7 percent could go to waste on the other 99 percent of American families.

Their solution: the Republican 1 percent budget--a gift basket for millionaires and billionaires. Inside is a permanent extension of the Bush tax cuts, which have created an income gap in this country on par with Cameroon and Rwanda. But the Republicans' 1 percent budget doesn't stop there. It gives an additional tax break of $150,000 to people earning more than $1 million a year while dismantling Medicare, slashing education, transportation, and the social safety net to pay for it.

I urge my colleagues to oppose this ``all for one and the one percent gets all'' budget and to support a plan that reflects our Nation's values of fairness and shared responsibility.

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