Rep. Duncan: Fiscal Cliff Deal an ‘Occupy Wall Street Style’ Proposal
(CNSNews.com) - Rep. Jeff Duncan (R-S.C.) said he could not in good conscience support “Occupy Wall Street style proposals” such as the Senate-approved fiscal cliff agreement that passed the House Tuesday night.
Duncan was one of 151 House Republicans who voted against HR 8, which was designed to avert the fiscal cliff.
“I cannot, and will not, in good conscious, support these redistribution, Occupy Wall Street style proposals that have been put forth by the Administration and the Senate,” Duncan said in a statement on Wednesday. “We must include spending reductions and real reform efforts if we are going to begin securing a brighter future for our children.”
He also accused President Obama and Democrats of embracing the politics of “class envy” and “redistribution.”
“I am glad that President Obama and the Democrats have finally come to the realization that the Republican principle of lower taxes is the right thing for Americans,” Duncan said. “However, it’s unfortunate that they still embrace the politics which are dividing Americans further - those of class envy and redistribution.”
The Congressional Budget Office (CBO) concluded that the fiscal cliff agreement passed by the House and Senate will increase federal spending by $332 billion over 10 years.
In addition to eliminating tax deductions for individuals earning over $250,000 and married couples earning over $300,000, the legislation also increases tax rates on individuals making over $400,000 and couples making over $450,000.