Ross gave a good answer but I've got to respond directly to Mr. Bush. You have questioned my patriotism.
You even brought some right-wing congressman into the White House to plot how to attack me for going to Russia in 1969-70, when over 50,000 other Americans did. Now, I honor your service in World War II, I honor Mr. Perot's service in uniform and the service of every man and woman who ever served, including Admiral Crowe, who was your Chairman of the joint Chiefs and who's supporting me. But when Joe McCarthy went around this country attacking people's patriotism he was wrong. He was wrong. And a senator from Connecticut stood up to him named Prescott Bush. Your father was right to stand up to Joe McCarthy, you were wrong to attack my patriotism. I was opposed to the war but I loved my country and we need a president who will bring this country together, not divide it. We've had enough division. I want to lead a unified country.
We move now to the subject of taxes and spending. The question goes to Governor Clinton for a two minutes answer. It will be asked by Ann Compton.
Governor Clinton, can you lock in a level here tonight on where middle-income families can be guaranteed a tax cut or, at the very least, at what income level they can be guaranteed no tax increase?
The tax increase I have proposed triggers in at family incomes of $200,000 and above. Those are the people who in the 1980s had their incomes go up while their taxes went down. Middle-class people, defined as people with incomes of $52,000 and down, had their incomes go down while their taxes went up in the Reagan-Bush years because of 6 increases in the payroll taxes. So that is where my income limit would trigger.
There will be no tax increases--
Right. My plan -
--notwithstanding my opponent's ad, my plan triggers in at gross incomes, family incomes of $200,000 and above. Then we want to give modest middle-class tax relief to restore some fairness, especially to middle- class people with families with incomes of under $60,000. In addition to that, the money that I raise from upper-income people and from asking foreign corporations just to pay the same income on their income earned in America that American corporations do will be used to give incentives back to upper-income people. I want to give people permanent incentives on investment tax credit, like President Kennedy and the Congress inaugurated in the early '60s to get industry moving again; a research and development tax credit; a low-income housing tax credit; a long-term capital gains proposal for new business and business expansions. We've got to have no more trickle down. We don't need across-the-board tax cuts for the wealthy for nothing. We need to say here's your tax incentive: if you create American jobs, the old-fashioned way. I'd like to create more millionaires than were created under Mr. Bush and Mr. Reagan, but I don't want to have 4 years where we have no growth in the private sector, and that's what's happened in the last 4 years. We're down 35,000 jobs in the private sector. We need to invest and grow, and that's what I want to do.
President Bush, one minute, sir.
Well, let me--I have to correct one thing. I didn't question the man's patriotism. I questioned his judgment and his character. What he did in Moscow, that's fine. Let him explain it. He did. I accept that. What I don't accept is demonstrating and organizing demonstrations in a foreign country when your country's at war. I'm sorry. I cannot accept it. In terms of this one on taxes spells out the biggest different between us. I do not believe we need to go back to the Mondale proposals or the Dukakis proposals of tax and spend. Governor Clinton says $200,000 but he also says he wants to raise $150 billion. Taxing people over $200,000 will not get you $150 billion. And then when you add in his other spending proposals, regrettably you end up socking it to the working man. That old adage they use--we're going to soak the rich- -we're going to soak the rich--it always ends up being the poor cab driver or the working man that ends up paying the bill. And so I just have a different approach. I believe the way to get the deficit down is to control the growth of mandatory spending programs, and not raise taxes on the American people. We've got a big difference there.