Amnbassador Pelosi speaks on Economics.
Come to think of it, Pelosi speaks as Speaker on any and everything
Subject: House Speaker Speaks!
Distinguished Speaker of the US House of Representatives, Nancy Pelosi.
This is what happens when your only higher education is in Liberal Arts
and you’ve never opened a book on business or economics. Even though
it's California, HOW do these people get elected? Here's an individual who
clearly doesn't understand what makes our present system work and wants
to replace capitalism with socialism.
Ms. Pelosi is a new leader in Congress. As such, we should be very concerned
and hope everyone reads this. It's hard to believe there are American citizens
who support her theories on social revolution and can make any sense of what
she spins. Take a good hard look at what she wants. Take special note of the
last paragraph.*
Congresswoman Nancy Pelosi on the US economy and taxes:
Nancy Pelosi condemned the new record highs of the stock market as
"just another example of Bush policies helping the rich get richer".
"First Bush cut taxes for the rich and the economy has rebounded with
new record low unemployment rates, which only means wealthy employers
are getting even wealthier at the expense of th e underpaid working class".
She went on to say "Despite the billions of dollars being spent in Iraq
our economy is still strong and government tax revenues are at all time
highs. What this really means is that business is exploiting the war effort
and working Americans just to put money in their own pockets".
When questioned about recent stock market highs she responded "Only
the rich benefit from these record highs. Working Americans, welfare
recipients, the unemployed and minorities are not sharing in these obscene
record highs". "There is no question these windfall profits and income
created by the Bush administration need to be taxed at 100% rate and
those dollars redistributed to the poor and working class". "Profits from
the stock market do not reward the hard work of our working class who,
by their hard work, are responsible for generating these corporate profits
that create stock market profits for the rich. We in congress will need to
address this issue to either tax these profits or to control the stock market
to prevent this unearned income to flow to the rich."
When asked about the fact that over 80% of all Americans have investments
in mutual funds, retirement funds, 401K's and the stock market she replied,
"That may be true, but probably only 5% account for 90% of all these
investment dollars. That's just more "trickle down" economics claiming that
if a corporation is successful that everyone from the CEO to the floor sweeper
benefit from higher wages and job security which is ridiculous". "How much
of this 'trickle down' ever gets to the unemployed and minorities in our county?
None, and that's the tragedy of these stock market highs."
"We democrats are going to address this issue after the election when we take
control of the congress. We will return to the 60% to 80% tax rates on the rich
and we will be able to take at least 30% of all current, lower Federal Income Tax
tax payers off the roles and increase government income substantially. We need
to work toward the goal of equalizing income in our country and at the same time
limiting the amount the rich can invest."
When asked how these new tax dollars would be spent, she replied, "We need to
raise the standard of living of our poor, unemployed and minorities. For example,
we have an estimated 12 million illegal immigrants in our country who need our help
along with millions of unemployed minorities. Stock market windfall profits taxes
could go a long ways to guarantee these people the standard of living they would like
to have as "Americans"." |
