Charles Rangel: “It appeared sometime yesterday that the Congressional Budget Office looked at statistically where the wealth of this…”

“It appeared sometime yesterday that the Congressional Budget Office looked at statistically where the wealth of this country is being held and came to the conclusion that 1 percent of America's high earners have 42 percent of the Nation's wealth. It also pointed out that one out of every five kids, American kids, is born into poverty. Well, certainly one might look at the income tax system to see whether or not this disparity is being dealt with. But if you do, you will find out that we have aggressively protected income for people who are wealthy enough to invest it at lower rates than lower income people who work hard every day and yet have a higher rate of their income that they have paid taxes on. What does this unfairness mean? Well, one thing I can tell you is that you're not going to have too much noise from the spiritual community because somehow they're silent as we deal with the question of budget deficits and budget cuts. They haven't responded to the fact that many of these cuts have to deal with income after retirement, with Social Security. Others deal with the ability to pay for health care. Others just deal with the plight of not being able to put food on the table, to get health care. In other words, it's all biblical as to what is wrong about the disparities in income. But there are other things that we don't talk about. You can rest assured that this includes some of the benefits that the 1 percent have.…”