Remember, we borrowed 8.4% of GDP last year. And to my brothers and sisters who the solution has often raised taxes on the wealthy, The best model says we can only get about one and a half percent of GDP by maximizing every tax on $400,000 and up. One and a half ain't anywhere close to when you just borrowed 8.4. And with that I yield. Gentlemen from Arizona yields. Gentlemen from illinois is recognized. (07:01–07:10)
CLAIM
Asserts that increasing taxes on incomes over $400,000 would yield only 1.5% of GDP.
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