Charles Norwood: “over and over, we hear the Democrats wailing that the capital gains…”

On the recordApril 3, 1995

over and over, we hear the Democrats wailing that the capital gains tax cut will benefit the rich. Of course, they have obscured the facts again. The capital gains relief in the Tax Fairness Act will go to benefit all income groups. Seventy percent of the taxpayers benefiting from the capital gains cut will have incomes of less than $50,000. The capital gains tax cut will put money into the economy which will lead to more investment and create more jobs. This will help all hard-working Americans. Mr. Speaker, this is a debate over the role of Government. The Democrats will fight for more government and more spending; we want the people back home to keep more of their hard-earned money. I want that roofing contractor in Martinez, GA to have a $500 tax credit for each of his children. The Democrats want his $500 for Federal bureaucrats. It is just that simple.

Said by

Charles Norwood

Georgia

Source

govinfo.gov

Editor's note · Context

Discussing the benefits of the capital gains tax cut during a debate on the Tax Fairness Act.

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Charles Norwood: “over and over, we hear the Democrats wailing that the capital gains tax cut will benefit the rich. Of course, they have…”

Editor's note · Context