standards and raise the quality and level of teaching in 40 different states. that wasn t a top down kind of command and control initiative and it wasn t done with huge amounts of money. what he wants to do is take discreet amounts of money and use them to leverage a great deal of change and a great deal of ferment in the country and unleash the genius of the american people, the industry of the american people, and so we will have to offset those things and that s why, look, the republicans say they want to cut spending. we want to cut spending. the president is going to and is going to submit a budget in the next few weeks. some areas like education will see an increase. other areas will see decreases. that is what a freeze is about. in addition the president did propose a revenue raiser to help pay for these things which is the top income tax bracket which he would like to revisit and raise the four points back up to where it was in the 199 os. as you know the constitution
congressman, if the if you were to succeed at this and kill this bill, all tax rates would increase on january 1st. do you know which bracket would be hit with the largest percentage increase? yes, the people who have dividend income. wrong, people. stop there, it s the bottom tax bracket, not the top tax bracket. the bottom would go from 10% to 15%. that is a 50% increase in the bottom income tax bracket. i m sorry, but none of you none of you democrats ever talk about. you are wrong, sir. no, let me respond if i may. in dollar terms, the money is at the top end, but in percentage terms, the question i asked is, when you re out of office in january and watching this from the sidelines, and the republicans control the house of representatives, i want you to tell me what you would say to floridians in your district who are now going to be represented by a republican, tell me what
you d say to them who are in the 10% bracket now, the lowest bracket, that their income tax rate goes up 50%, to 15% on the first week in that first paycheck they get in january. tell me what you would say to them about why you allowed that to happen. i would say, your facts are wrong, the dividend rate goes from 15% to 39.6%. that s more than doubling. that s more than a 50% increase. so let s get our facts straight. i m talking about income tax brackets. now, you address for me the justification you would give to your constituents in the lowest income tax bracket of why their income taxes were allowed to go up by 50% in the first week of january. tell me what you d say to them. i don t think that would happen. but it will happen if you get your way. listen. stop be an adult about this, congressman. oh, please, let s not insult each other with that kind of language.
white house evidently think the real problem with the u.s. economy today is that corporations aren t make enough money. congressman, if the if you were to succeed at this and kill this bill, all tax rates would increase on january 1st. do you know which bracket would be hit with the largest percentage increase? yes, the people who have dividend income. wrong, people. stop there, it s the bottom tax bracket, not the top tax bracket. the bottom would go from 10% to 15%. that is a 50% increase in the bottom income tax bracket. i m sorry, but none of you none of you democrats ever talk about. you are wrong, sir. no, let me respond if i may. in dollar terms, the money is at the top end, but in percentage terms, the question i asked is, when you re out of office in january and watching this from the sidelines, and the republicans control the house of representatives, i want you to
tell me what you would say to floridians in your district who are now going to be represented by a republican, tell me what you d say to them who are in the 10% bracket now, the lowest bracket, that their income tax rate goes up 50%, to 15% on the first week in that first paycheck they get in january. tell me what you would say to them about why you allowed that to happen. i would say, your facts are wrong, the dividend rate goes from 15% to 39.6%. that s more than doubling. that s more than a 50% increase. so let s get our facts straight. i m talking about income tax brackets. now, you address for me the justification you would give to your constituents in the lowest income tax bracket of why their income taxes were allowed to go up by 50% in the first week of january. tell me what you d say to them. i don t think that would happen. but it will happen if you get