Joe Biden: Student Loan Debt

Meaning of Joe Biden Money Quote: saying student loan debt relief requires no apology when Republicans gave wealthiest Americans a $2 trillion tax cut. Joe Biden said:
 

 

“I will never apologize for helping Americans — working Americans and middle class, especially not to the same folks who voted for a $2 trillion tax cut that mainly benefitted the wealthiest Americans and the biggest corporations” — Joe Biden

Joe Biden said he would never apologize for helping Americans with student loan debt relief because Republicans had passed a large tax cut that mainly benefited wealthy Americans and corporations. Biden was referring to the $2 trillion tax cut passed under President Trump in 2017.

Biden believes providing relief for student loan debt helps middle-class and working-class Americans, so he does not think he needs to apologize for that, especially when the Republican tax cuts were much larger and focused more on the wealthy.

Steve Mnuchin: No Upper Class Tax Cut

Steve Mnuchin Money Quote saying as Treasury Secretary nominee in January of 2017, that the rich would not receive a tax cut, which was then called the ‘Mnuchin Rule‘ on taxes. Steve Mnuchin said:
 

 

“Any reductions we have in upper-income taxes will be offset by less deductions, so there will be no absolute tax cut for the upper class. There will be a big tax cut for the middle class, but any tax cuts we have for the upper class will be offset by less deductions that pay for it” — Steve Mnuchin

In this quote, former Treasury Secretary Steve Mnuchin is addressing concerns that the Republican tax plan in 2017 would disproportionately benefit the wealthy. He claims that while upper-income taxpayers may see some reductions, these will be offset by limiting certain deductions so the net result is not an “absolute tax cut” for that group.

However, Mnuchin says there will be a “big tax cut” for middle-income earners. His intention seems to be reassuring those worried the plan favors the rich, by arguing the upper class will not see true tax savings due to closed loopholes, while middle-class Americans will owe less.

However, the quote has been criticized by some as misleading given analyses showing the wealthy did see substantial benefits from the tax legislation overall.

John Fugelsang: Rich White Tax Cut

John Fugelsang Money Quote saying that tax cuts to rich white guys is being disguised as healthcare reform with a misleading title designed for public consumption. John Fugelsang said:
 

 

“Stop calling it the American Health Care Act and call it what it is – a tax cut by rich white men to other rich white men who don’t need it” — John Fugelsang

John Fugelsang is criticizing the American Health Care Act by characterizing it as a tax cut that primarily benefits wealthy white men rather than improving health care. He suggests the bill is not really about health care reform, but instead is a tax break for those who are already well-off and do not have significant health care needs.

A key part of his criticism is that the tax cuts in the bill will benefit those who can already afford health care the most, rather than helping to make coverage more affordable and accessible for others.

Robert Dole: Purpose of Tax Cut

Robert Dole Money Quote saying tax cut is intended to leave money in hands of working Americans. Robert Dole said:
 

 

“The purpose of a tax cut is to leave more money where it belongs: in the hands of the working men and working women who earned it in the first place” — Robert Dole

In this quote, Robert Dole is expressing his view that the goal of enacting tax cuts should be to allow citizens to keep more of the money they have earned through their work and labor. Dole argues that the money generated by taxpayers through their employment rightfully belongs to the “working men and working women” who originally earned it, not the government.

His perspective is that taxes diminish individuals’ ability to benefit fully from the fruits of their own work. So by reducing taxes, Dole believes workers are better able to retain a larger share of their hard-earned income that he views as rightfully theirs, rather than having it collected in taxes.

Overall, the quote conveys Dole’s philosophy that tax cuts empower ordinary citizens by leaving a greater portion of their wages in their own hands as opposed to the state.

Birthday: July 22, 1923 – Death: December 5, 2021

Tim Ryan: Can’t Fill a Pothole with Tax Cut

Tim Ryan Money Quotation saying republicans in congress are insisting on tax cuts to balance the federal budget, ignoring revenue side of equation. Tim Ryan said:

“Maybe we do need to trim some spending, but we also need revenue. Again, you can’t fill a pothole with a tax cut. You can’t put in special operations forces with a tax cut. You can’t build a missile defense system with a tax cut. You need to make these investments” — Tim Ryan

In this quote, Congressman Tim Ryan is arguing against an exclusive focus on spending cuts to address budgetary issues. While acknowledging “some” trimming may be necessary, Ryan also believes new “revenue” or tax receipts are required to fund important public investments and services.

His view seems to be that reducing taxes alone cannot fulfill core government functions like infrastructure maintenance, national security programs, and more. Ryan implies that both spending discipline and adequate taxation are needed for the government to meet its obligations.

The quote conveys Ryan’s perspective that a balanced approach considering both outlays and incomes is most prudent for fiscal responsibility rather than an imbalanced emphasis only on one side of the ledger over the other.