Senator Dole's Radio Address

Hello, I'm Bob Dole. America's thoughts and prayers today are with the victims of Hurricane Fran, and with the workers and volunteers who are helping in the recovery process.

I have spoken today with congressional leaders, and they stand ready to provide funding for emergency assistance to the stricken areas as rapidly as possible.

The congressional leaders and I also discussed our desire to give Americans a tax cut, Before I left the Senate, I helped Congress pass legislation that would have out taxes by some 245 billion dollars. Unfortunately, President Clinton, who gave Americans the largest tax increase in history in 1993, vetoed our package of tax cuts,

My fellow Americans, in a democracy, the power to decide matters of national importance ultimately rests with the people. This November will be no different.

Because this November you will be deciding more than just who will move as President of the United States for the next four years. You will also decide the size of your tax bill and the future of our tax system-and many other important issues.

I believe taxes are too high-a belief supported by the non-partisan Tax Foundation, which reports that American workers are now paying the highest percentage of their income in taxes in peacetime history-a whopping 38.2% for the average family of four.

In fact, thanks to the 1993 Clinton Tax Increase, the average American family now pays more in taxes than they do for food, shelter, and clothing combined, These high taxes have helped to create an economy of slow growth, stagnant wages, and falling incomes.

President Clinton says that America's economy is the best it's been in thirty years. Yet, the, Congressional Joint Economic Committee reports that last year 66 countries had economic growth rates that surpassed ours. The President may think that when it comes to economic growth, 67th place is good enough, but I do not.

I want America to lead the world again in terms of economic growth, rising incomes, and greater job opportunities. And the best way to do that, is to cut taxes and to control government spending.

If elected, Jack Kemp and I will cut tax rates by 15% for every American taxpayer, and middle and lower income taxpaying families will receive a $500 tax credit for every child under the age of 18. We will also cut the capital gains tax rate in half there, thereby creating more jobs and more opportunities for Americans everywhere.

And that's just phase one. Our goal in phase two is to end the IRS as we know it and make our entire tax system fairer, flatter, and simpler.

What does my economic plan mean for you? Well, the average American family will have more than 1,600 dollars a year. That's 1,600 dollars that dollars can save, spend, or invest as they see fit.

How will we cut taxes and balance the budget at the same time? Let me he specific.

Under current plans, federal spending over the next six years will total 10.8 trillion dollars, That's a lot of money.

And so Is 10.2 trillion dollars, which is what the government would spend over the next six years under my plan-a plan which allows for a 34% increase in Social Security spending and a 39% increase in Medicare spending.

By saving only five to six cents on the dollar in other areas of the federal budget, we will still save $576 billion over the next six years-more than enough to pay for my tax relief proposals.

These savings, combined with the sale of some government assets like the broadcast spectrum, And the economic growth that will result from my program of tax reduction, would complete the job and balance the budget by the year 2002.

I am proud that my plan has been endorsed by a large number of economic experts who have no involvement with politics. This group includes Nobel winners Dr. Milton Friedman, Dr. Gary Becker, Dr. James Buchanan, and Dr, Merton Miller.

They understand, as I do, that balancing the budget and cutting taxes is simply a matter of presidential will. If you have it you can do it. I have it, and I will do it.

And they understand, as I do, the simple economic principle on which my plan is based.the principle that it's your money, And government shouldn't tell you what to do with it.

This principle is foreign to many in Washington, including President Clinton. He says we can't afford to cut your taxes by 15%. Instead, he is proposers a series of small targeted tax cuts.

In other words, if you are engaging in some kind of behavior that Bill Clinton. deems acceptable, then he will let you keep a little more of your own money.

In short, not only does President Clinton have hundreds of ideas on how the government can take and spend more of your money, he also wants to dictate how you should spend what's left.

President Clinton also claimed that his tax cuts are paid for 'line by line and dime by dime.' Well, the nonpartisan Tax Foundation has reached a different conclusion. They say the President is $82 billion short in specifying how he will pay for his plan.

Given his past record, Americans can only assume that be will make up for this shortfall with still more tax increase.

'My fellow Americans, I know you may be skeptical because before the 1992 election, Candidate Bill Clinton promised you a tax cut. After the election, he gave you the largest tax increase in history.

And before the 1992 election, Candidate Clinton promised to balance the budget in five years. After the election, he opposed a Balanced Budget Amendment to the Constitution, and submitted budgets containing S200 billion deficits a year as far as the eye can see.

All I can ask is that if you believe, as I believe, that you're working too hard and too long to 3 support the Clinton spending machine, then take the time to listen to what Jack Kemp and I have to say and take time to study our plan.

I also invite you to study my record.

Democrats and Republicans alike mill tell you that no one has fought harder to reduce the deficit than I have. They will also tell you that I don't make promises lightly. And when I make them, I keep them.

Until next week, this is Bob Dole saying, thanks for listening, and please keep the hurricane victims and recovery Workers in your thoughts and your prayers.