[Congressional Record Volume 145, Number 54 (Tuesday, April 20, 1999)]
[House]
[Pages H2148-H2149]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        AMERICA'S TRADE DEFICIT

  (Mr. TRAFICANT asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)

[[Page H2149]]

  Mr. TRAFICANT. Mr. Speaker, last month's trade deficit hit another 
record, $20 billion. One month, $20 billion. If it keeps up, $240 
billion a year, a quarter of a trillion dollars.
  Japan and China are now taking $10 billion a month out of our 
economy. Beam me up. It is not going to stop because of our current Tax 
Code that rewards imports. I say it is time to throw out income taxes, 
throw out the IRS, and pass the national retail sales tax program. It 
will reward our exports.
  Let us tell it like it is. Our Tax Code stinks so bad, if we sprayed 
it with Chanel No. 5, it would still smell like the Environmental 
Protection Agency.
  I yield back 400,000 jobs lost last month due to our trade deficit.

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