Joe Cunningham: “Well, the gentleman's business people and his workers in Georgia are just like in California. One of our colleagues at…”

“Well, the gentleman's business people and his workers in Georgia are just like in California. One of our colleagues at the whip meeting pointed out that the tax laws against business are the worst of all the industrialized nations. The capital gains is the highest of industrialized nations. No other nation has double taxation. Just the United States. And what that does is it makes us not as competitive. We hear about cheap labor a lot, but the labor that we have is taxed so high that the cost of goods makes us not be in the market overseas. So I would like to see capital gains go to zero. I would like to see the double taxation go away. One of my friends right here tonight, he was looking for an apartment where I live, and a lady had a single room apartment for sale. She decided not to sell it to our colleague because after she looked, the capital gains she is going to have to pay on selling that are going to far exceed any benefit that she would get. So it also ties up capital and revenue.”