[Congressional Record Volume 141, Number 62 (Tuesday, April 4, 1995)]
[House]
[Page H4119]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        TAX CUTS TO BENEFIT RICH

  (Mr. WATT of North Carolina asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. WATT of North Carolina. Mr. Speaker, this morning's paper 
reported that the Republicans have reached a deal on the tax cut 
package. Well, the public had better beware, because this tax cut 
package has two major problems. No. 1, they have told us all of this 
time that the most important thing in life is cutting the deficit. But 
what are we doing? Instead of using this money to cut the deficit, we 
are cutting taxes instead.
  No. 2, we are doing it on the backs of poor people. The poor person, 
the $20,000 to $30,000 per year person, the $30,000 to $50,000 per year 
person, will get little benefit from this tax cut. The person earning 
over $200,000 a year in income will get $11,266 in tax cuts. Nothing 
for the American people who need it.
  This is trickle down economics again. We ought to reject it out of 
hand.


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