Presidents -- United States -- Messages; United States -- Politics and government -- Sources
And finally, my immediate plan calls on Congress to give crucial help to
people who own a home, to every one who has a business, a farm or a single
investment.
This time, at this hour, I cannot take "No" for an answer. You must cut the
capital gains tax on the people of this country. Never has an issue been so
demagogued by its opponents. But the demagogues are wrong. They are wrong,
and they know it. Sixty percent of people who benefit from lower capital
gains have incomes under $50,000. A cut in the capital gains tax increases
jobs and helps just about everyone in our country. And so I'm asking you to
cut the capital gains tax to a maximum of 15.4%. And I'll tell you, I'll
tell you, those of you who say, "Oh no, someone who's comfortable may
benefit from this" you kind of remind me of the old definition of the
Puritan, who couldn't sleep at night worrying that somehow someone
somewhere was out having a good time.
The opponents of this measure and those who've authored various so-called
soak-the-rich bills that are floating around this chamber should be
reminded of something: When they aim at the big guy, they usually hit the
little guy. And maybe it's time that stopped.
This then is my short-term plan. Your part, members of Congress, requires
enactment of these common-sense proposals that will have a strong effect on
the economy, without breaking the budget agreement and without raising tax
rates. And while my plan is being passed and kicking in, we've got to care
for those in trouble today. I have provided for up to $4.4 billion in my
budget to extend federal unemployment benefits, and I ask for Congressional
action right away. And I thank the committee--well, at last. And let's be
frank. Let's be frank; let me level with you.
I know, and you know, that my plan is unveiled in a political season. I
know, and you know, that everything I propose will be viewed by some in
merely partisan terms. But I ask you to know what is in my heart. And my
aim is to increase our nation's good. And I'm doing what I think is right;
I'm proposing what I know will help. I pride myself that I'm a prudent man,
and I believe that patience is a virtue, but I understand politics is, for
some, a game and that sometimes the game is to stop all progress and then
decry the lack of improvement. But let me tell you, let me tell you, far
more important than my political future--and far more important than
yours--is the well-being of our country. And members of this chamber,
members of this chamber, are practical people, and I know you won't resent
some practical advice: When people put their party's fortunes, whatever the
party, whatever the side of this aisle, before the public good, they court
defeat not only for their country, but for themselves. And they will
certainly deserve it.
Public-domain text, read in full here on John Shaqi.
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