House Proceeding 04-01-09 on Apr 1st, 2009 :: 5:44:05 to 5:46:45
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5:44:01 to 5:44:21( Edit History Discussion )

Charles W. Dent: it is a wise plan with wise investments. i reserve the balance of my time and yield to my good colleague. the chair: the gentlewoman reserves the balance of her time. mr. brady: i'd yield 2 1/2 minutes to the distinguished gentleman from pennsylvania, mr. dent.

5:44:05 to 5:46:45( Edit History Discussion )
Speech By: Charles W. Dent

5:44:22 to 5:44:42( Edit History Discussion )

Charles W. Dent: mr. dent: thank you. we hear a loof talk about pay-go, but pay-go is retune he will waved here -- waived here -- is routinely waived here. i think we need to point that out. but this budget, i think, is problematic for a number of reasons. first, it imposes higher taxes on income, investment anenergy

5:44:43 to 5:45:04( Edit History Discussion )

Charles W. Dent: and, yes, the death tax comes roarinback. the national debt doubles in five years. the national debt triples in 10 years. let me repeat that. the national debt will double in five years and wiltriple in 10 years. it took 43 presidents 232 years to accumate $5 billion in debt.

5:45:05 to 5:45:25( Edit History Discussion )

Charles W. Dent: this budget gets to us $5 billion in five years. in short, this budget spends too much, borrows too much and taxes too much. on energy. users of electricity, gasoline, petroleum, natural gas will all pay more. let me translate that.

5:45:26 to 5:45:46( Edit History Discussion )

Charles W. Dent: we will all pay more. the american taxpayer. we're going to pay mor of the so-called cap and trade or as my colleague mr. burgess from texas said, cap and tax. where this is simply a carbon tax. an energy tax on every american who consumes energy and again, that is just about every american i know. you know, according to the

5:45:47 to 5:46:07( Edit History Discussion )

Charles W. Dent: c.b.o., we expect that this cap and trade tax will cost every household at least $1,600 again in higher energy costs. and actually there's studies out there that say it will cost even more than that. it will also result in the lost of three million to four million jobs, according to the national association of manufacturers. so in short, i would say to

5:46:08 to 5:46:28( Edit History Discussion )

Charles W. Dent: everyone here tonight, because of these higher taxes on income and energy, the verpeople who were asking to get us out from under this very difficult recession, small business people, are going to pay more. small manufacturers that use natural gas in a very big way, they'll be punished because of this. the death tax punisheshem, too. makes it harder for them to pass

5:46:29 to 5:46:46( Edit History Discussion )

Charles W. Dent: these businesses onto their children and to their grandchildren. this is an ill-advised budget. the income tax that we will see go up here, too, will also punish many small businesses because they're organized as subchapteresque companies, priorer toships, they will pay the bill. so let us think about this. this budget is ill-advised.