Pres. Clinton's State of the Union speeches: on Tax Reform

Increase taxes on top 1.2%; and on no one else

Of course, there were, as there always are in politics, naysayers who said this plan wouldn't work. But they were wrong. When I became President, the experts predicted that next year's deficit would be $300 billion. But because we acted, those same people now say the deficit is going to be under $180 billion.

Our economic program has helped to produce the lowest core inflation rate and the lowest interest rates in 20 years. And because those interest rates are down, business investment and equipment is growing at 7 times the rate of the previous 4 years.