John Sununu Quotes
The precise point at which a tax deduction becomes a 'loophole' or a tax incentive becomes a 'subsidy for special interests' is one of the great mysteries of politics.
Sununu, John E. "Tax Loopholes vs. Deductions." The Boston Globe, 4 Apr. 2011.
He was referring to many of the tax earmarks and other tax legislation that in effect give funds to specific organizations or kinds of organizations or for those who engage in certain activities or sometimes just to favorite organziations. A tax credit or deduction is from a balanced budgetary perspective is no different from a subsidy.
Reacting to proposals to reduce the capital gains tax:
The founder was Charles E. Coughlin, 1891-1979, a demagogic Catholic Priest who drafted the principles and invited others to join him. Hundreds of thousands did in this organization which began in idealism, and ended in scandal and hate mongering, so much so that Father Coughlin was ordered off the radio and out of politics by the Catholic Church. The National Union in 1936 had morphed into the Union Party which ran Presidential candidates in the 1936 election. The tax-exempt bond which the Union tried to abolish became the mainstay for the financing of most of the public infrastructure of the United State and still is.
At the time Rangel was the Chairman of the House Ways & Means Committee which had jurisdiction over tax matters.
John Edward Sununu is an American politician who served as a member of the United States House of Representatives and United States Senator from New Hampshire. He is the only Salvadoran American ever elected to the U.S. Congress (having served in both the House and the Senate). Sununu was the youngest member of the Senate for his entire six-year term. He is the son of former New Hampshire Governor and former White House Chief of Staff John H. Sununu. On November 4, 2008, Sununu lost his re-election bid to former governor Jeanne Shaheen. His younger brother, Chris Sununu, has been the Governor of New Hampshire since January 2017.
