Word: rostenkowskis
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...House Democrats would have taken a whack at the rich by hiking the marginal tax rate for couples earning more than $78,400 to 33% from 28%, with an extra 10% surtax on earnings above $1 million. "What we're doing is getting our house in order," boasted Dan Rostenkowski, chairman of the Ways and Means Committee. "Tonight, equity and fairness make a comeback...
...explain that to people subject to the 33% marginal rate. Capitalizing on the widespread impression that the bubble gives a bonanza to the mansion-and-limousine set, House Democrats led by Ways and Means Committee chairman Dan Rostenkowski have proposed to puncture it. They would tax all income over $200,000 at the 33% rate and levy an additional 10% surcharge on income over $1,000,000. Though such hikes would apply to only about 740,000 taxpayers, the congressional joint tax committee reckons the change would bring in $4.2 billion in additional revenue in the current fiscal year...
...problem with the complexities that the Middle East has now, and the gulf has now, I enjoy trying to put the coalition together and keep it together. . . . I can't say I just rejoice every time I go up and talk to ((House Ways and Means chairman Dan)) Rostenkowski about what he's going to do on taxes...
...more than a year Rostenkowski, one of Bush's closest friends in Congress, has pleaded with the President to "tell the American people that if we don't balance our budget, we're going to be No. 2 in the world, and the American people will say 'The hell we are!' If you challenge them, they will accept whatever sacrifice you say is necessary...
Bush was unmoved by Rostenkowski's appeal, as he was last month when some advisers urged him to forcefully exploit the crisis in the gulf as an opportunity to make progress on the budget. Bush did give a televised speech linking the two problems, but rather than call on all Americans to sacrifice, he proposed nearly $30 billion in new tax breaks and left the tough choices to Congress...