US Presidency
1984

I believe we need some fairness. And that's why I've proposed what I think is a fair and a responsible proposal that helps protect these people who've already got no relief or actually got a tax increase. Mr. Barnes. It sounds as if you are saying you think this group of taxpayers making $ 25,000 to $ 45,000 a year is already overtaxed, yet your tax proposal would increase their taxes. I think your aides have said those earning about $ 25,000 to $ 35,000, their tax rate would go up, their tax bill would go up a hundred dollars, and from $ 35,000 to $ 45,000, more than that, several hundred dollars. Wouldn't that stifle their incentive to work and invest and so on, and also hurt the recovery? Mr. Mondale. The first thing is, everybody $ 25,000 and under would have no tax increase. Mr. Reagan, after the election, is going to have to propose a tax increase, and you will have to compare what he proposes.