Cross-posted at the Brock Log.
He railed against the rising deficit and railed against his own party and President for allowing the spending to go unchecked.
“It’s not a very exciting issue to talk about, but if this country does not remain strong on its economic legs, then we all will be impacted,” he said. “If you have children, if you have grandchildren, then what we are doing is immoral. This nation, whether it be a Republican president or a Democratic president, has got to get a handle on spending.”
Jones argues that the $8.5 trillion national debt is increasing by $1.67 billion every day. Jones is also concerned that much of that debt is being purchased by foreign countries such as Japan and China, that America is “putting our financial interests in the hands of foreign countries.”
Because of that, Jones said he won’t vote for any foreign aid bills.
Congressman Jones, who is seeking re-election to a seventh term in Congress (contrary to his Contract with America promises), refuses to vote for foreign aid. He will, however, vote for a tax cut for the richest Americans. HR 5638 goes further than to repeal the Estate Tax, however. From Project Vote Smart's website:
Increases the amount eligible for exemption in gifts and estates to $5 million as of 2010 (Sec 2(a))
- Decreases the tax rate for estates up to $25 million to 15 percent (Sec (2)(c)(1))
- Decreases the tax rate for estates above $25 million to 30 percent (Sec (2)(c)(2))
- Provides a 60 percent tax deduction of the qualified timber gain or the net capital gain, depending on which is less, of timber sales to those who choose to apply (Sec 4, 1203(a)(1)(2))
In the times that NC's median income has dropped over 10%, the people that need tax relief are the poorest 10%, not the richest 1%.
Congressman Jones has also voted to extend nearly $70 billion in tax cuts to 2010. If he is serious about the deficit issue, then he needs to begin to vote for the tough bills that increase the governments revenue while decreasing its expenses.
Speaking of expenses, the occupation of Iraq costs American taxpayers an estimated $177 million dollars a day. This is the same occupation that Congressman Jones cast a "YES" vote.
Visit Craig Weber's website. He's got good, solid ideas.