CONDEMNING WEALTH INEQUALITY

CONDEMNING WEALTH INEQUALITY

Congressional Record, Volume 172 Issue 48 (Tuesday, March 17, 2026) [Congressional Record Volume 172, Number 48 (Tuesday, March 17, 2026)] [House] [Pages H2537-H2538] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] CONDEMNING WEALTH INEQUALITY (Mr. GOLDMAN of New York asked and was given permission to address the House for 1 minute and to revise and extend his remarks.) Mr. GOLDMAN of New York. Mr. Speaker, I rise to condemn the skyrocketing wealth inequality in this country. Over the last couple of decades, the rich have gotten richer while working families have been left behind. The very wealthiest of Americans pay an average effective tax rate of 3.4 percent. Elon Musk pays 3.3 percent. Jeff Bezos pays 1 percent. Yet, wage-earning Americans pay nearly 30 percent. Put simply, our tax system is rigged. That is why I introduced the ROBINHOOD Act, to make these billionaires pay their fair share so that we can deliver universal childcare and Medicare for all. These billionaires avoid paying taxes because their assets and money is in stock. They don't sell their stock. Instead, they take out loans against their stock, and they don't pay taxes on their loans. Put simply, this bill would tax those loans and would generate nearly $30 billion of revenue. This is the right way to tackle our wealth inequality and to make the wealthy pay their fair share. [[Page H2538]] ____________________