[Congressional Record Volume 140, Number 15 (Tuesday, February 22, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: February 22, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                      W-2 FORMS AND WHAT THEY SHOW

  (Mr. SMITH of Michigan asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. SMITH of Michigan. Mr. Speaker, I have in my hand a W-2 form. 
Every working American knows what this is, but I think it's an 
excellent time of year to look at this W-2 form to see what government 
does to us, by observing how much they take out of our paychecks.
  If you are an average working person in Michigan, government takes 42 
cents of every dollar you earn. The Federal Government taxes too much, 
borrows too much, and spends too much.
  Those under 40 should pay particular attention because if you retire 
after the year 2020 you're in trouble. There will be just two working 
Americans to support each Social Security recipient by that time. Your 
Social Security taxes today don't go for your Social Security, your 
Medicare deductions don't go for your health insurance.
  It's a good time of year to think about what kind of government you 
want, the kind of person you want to send to Congress next November.

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