I can accept it on those terms, but I don't believe the fact we have not taxed that account to be an appropriation of the U.S. Treasury in support of a private or parochial school. We have just not collected the tax; there has been no constitutional challenge or discussion about it. That just won't flow. If we have decided to grant accounts that people's own money goes into and have decided we are not going to tax the interest on it, there is no way in the world that anybody would find that that is a subsidy of parochial education.
Paul Coverdell: “I can accept it on those terms, but I don't believe the fact we have not taxed that account to be an appropriation of…”
Editor's note · Context
Discussing taxation and its implications for private and parochial schools.
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