Here’s what conservative politicians said about the 1993 deficit reduction legislation that raised taxes on the top 1.2% of our wealthiest citizens:
"Clearly, this is a job-killer in the short-run. The impact on job creation is going to be devastating."
—Rep. Dick Armey, (Republican, Texas)
"The tax increase will…lead to a recession…and will actually increase the deficit."
—Rep. Newt Gingrich (Republican, Georgia)
"I will make you this bet. I am willing to risk the mortgage on it…the deficit will be up; unemployment will be up; in my judgment, inflation will be up."
—Sen. Robert Packwood (Republican, Oregon)
"The deficit four years from today will be higher than it is today, not lower."
—Sen. Phil Gramm (Republican, Texas)
"The President promised a middle-class tax cut, yet he and his party imposed the largest tax increase in American history. We hope his higher taxes will not cut short the economic recovery and declining interest rates he inherited… Instead of stifling growth through higher taxes and increased government regulations, Republicans would take America in a different direction."