[Congressional Record Volume 143, Number 68 (Wednesday, May 21, 1997)]
[House]
[Pages H3081-H3082]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         CAPITAL GAINS TAX CUTS

  (Mr. WELDON of Florida asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. WELDON of Florida. Mr. Speaker, I have heard the other side 
characterize capital gains tax cuts so many times as tax cuts for the 
wealthy that I am truly baffled. I am baffled because I do not know if 
the other side persists in saying this because they simply do not know 
what they are talking about or because they know that bashing the rich 
is good politics.
  So, Mr. Speaker, I have a few questions for the other side. Does the 
other side believe that the role of capital in our economic system is 
unimportant? Put another way, can the other side conceive of a single 
thing, anything at all, that is more important to our economic growth 
than savings and investment? Do the Democrats believe that taxing 
savings and investment less will result in more of it?
  Does more savings and investment help create jobs or prevent them 
from being created? Does the other side pretend to believe that the 
poor will prosper if fewer jobs are created?
  Of course not. The other side is so obsessed, Mr. Speaker, with the 
possibility that rich people like Bill Gates and

[[Page H3082]]

Tiger Woods might get richer that they would deny the poor an economy 
that produces more jobs for everyone. No wonder the voters are cynical.

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