Transcript from House Committee...
Cong. McGuire: Thank you Mr. Chairman. -- Mr. Verasci, as you might be aware I am a member of the New Whig party. I would describe myself as a American nationalist and an enlightened Mercantilist. -- Mr. Verasci am I boring you already?
Chairman Verasci: No, Congressman, I was just...
Cong. McGuire: Very well. ... Also, ironically, I am the only member of this committee to have served in the Armed Forces... but that is... let me get to the...
Cong. Rudyan [Chair]: {interrupting}--You've mentioned that a thousand times...
Cong McGuire: Mr. Rudyan this is my time sir... -- Anyway Chairman Verasci, ... I am exasperated... All I can say is get us back to the Eisenhower era of significantly higher marginal tax rates which will force domestic reinvestment and curb the kind of run-away inflation we've seen in areas of medical and financial services for the past 30 years.
Chairman Verasci: Is there a question? -- This will stop the growth of...
Cong McGuire: --of another factory in China or another high-priced painting on a billionaire's wall. And don't give me the parade about pioneer-entrepreneurial glittering generalities either. Daniel Boone died broke. Government spending made America great. It won the Second World War, kept the peace with our armed forces, created the aerospace industry, built the highways, even started the Internet! -- The fact is that the Social Darwinism you expound only creates an artificial de-facto aristocracy that will not whether the storms of the market-place in succeeding generations. --And how did Adam Smith feel about Joint-Stock corporations? Corporate governance is a page out of the old Soviet Union. We have internationalist managers using other people's money against the United States! No wonder Thomas Jefferson took such a dim view of the patriotism of the merchant class...
Cong. Rudyan [Chair]: {interrupting} Do you have a question for the witness or just a harangue? [unintelligible]
Cong McGuire: [unintelligible] Why is it that I feel stuck between money and power, with those who hate God and the United States on both sides? [unintelligible]...
Cong. Rudyan [Chair]: [unintelligible]... A short recess till [unintelligible]...
- - Recess - -
Cong McGuire: All-right, I'll use the rest of my time angering unions and social security recipients: We must stop using straight-percentage increases in COLAs or raises. It continually expands the gap between top and bottom sectors. Use lump-sum distributions and hold tier-levels to performance; or with social security - since it presumably - is needs-based, use a sum calculated against cost-of-living to an average recipient applied to all...
Cong. Rudyan [Chair]: Thank you everybody that is all the time we have today. [unintelligible]...