Political Quotes

On the recordMay 22, 2003
under the new tax cut agreement, some investors could cut their tax liability to zero. I want to read a few excerpts today from the Wall Street Journal: ``After Congress gets through with President Bush's tax cut proposal, some rich investors may be able to avoid paying almost any taxes . . . '' `` . . . This relatively simple strategy could become more attractive and convenient for wealthy investors because investors could obtain tax advantages . . . '' These quotes provided by one of our papers, major papers, the Wall Street Journal. I would like to read the headline: ``Some Investors Could Trim Their Tax Bills to Near Zero.'' It will give rich investors tax advantages that the rest of us do not enjoy. So if they are not part of the select elite, they will see their taxes, property taxes and others, go up to make up the difference for the privileged few. If they do not pay zero this year, they actually end up paying taxes. They should know that a tax bill was never intended to help them. So I would like to submit into the Record the Wall Street Journal article and its headline ``Some Investors Could Trim Their Taxes to Near Zero.''
Said by
Rep. Rahm Emanuel
Illinois

Editor's note · Context

Discussing the implications of the new tax cut agreement on wealthy investors.

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