[Congressional Record Volume 143, Number 98 (Friday, July 11, 1997)]
[House]
[Page H5134]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




            REPUBLICAN TAX BILL SHOWERS BENEFITS ON THE RICH

  (Mr. MILLER of California asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. MILLER of California. Mr. Speaker, it is already starting. The 
Wall Street Journal this morning tells the wealthy what to do. Ready, 
get set, here is how to profit from your big cut in capital gains. What 
the Journal describes is how the rich can manipulate their income so 
they avoid paying the same tax rate that wage earning Americans pay 
every day of their life; how the rich can pay a 20-percent rate while 
those who are getting a paycheck every day pay a 28-percent rate on 
their income; how they can manipulate their stock dividends so as not 
to pay ordinary tax on their dividend income; how to avoid paying 
estate taxes even though the estate taxes are going to be reduced.
  What the Republican bill does is shower these benefits on the wealthy 
of America while denying hard-working families even the right to the 
child tax credit. What they are saying to millions of working families 
who get up every morning, go to work, they work hard they just do not 
make a lot of money, that they are not going to share the benefits of 
this tax bill with those families because they have given too much to 
the wealthy and there is just not enough left over for wage earners in 
America.

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