On the recordJuly 24, 1997
let me give an example of who benefits under the Republican tax plan. Sandy Weill is a CEO who last year earned $94 million. Under the Republican plan, he would enjoy a capital gains tax cut adding up to $7 million. The average American family earns a little more than $32,000 per year. Their entire annual income is, now get this, only four one-thousandths as big as the capital gains tax cut Sandy Weill would get under the Republican plan. America has been good to people like Sandy Weill. With $94 million in income last year, I think he can wait for his tax cut. But most Americans cannot wait. They can use a tax cut now. Working families need it to pay their rent or mortgage, buy their groceries, raise their children, and maybe have a little left over for a rainy day. I implore my Republican colleagues to take a second look at their plan and come back with a proposal that actually helps average working families. I know they can do it. They just have to want to.
Source
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