Political Quotes

“it is interesting to have the advocate that says you need a two-thirds vote of the Congress to raise taxes say he wishes it could be done instead by Executive order, because understand, first of all, that changing the CPI the way the Boskin Commission said would increase taxes. It would increase the rate of taxation on people because of what it would do with the brackets. The gentleman from Texas, not surprisingly, said I do not want to do that; let the President do that by executive order. So on the one hand he wants it to be a two-thirds vote, and on the other hand he wants the President to do it by Executive order. He may not have read the most recent version of his amendment, because it does not say the Internal Revenue Code. It quite specifically, as we were told in the Committee on the Judiciary, does not say the Internal Revenue Code, it says the internal revenue of the United States, small ``i'' small ``r''. So when the gentleman says this does not affect the Internal Revenue Code, that is wrong. Finally, the CPI does directly affect the brackets. If we reduce the CPI, then we reduce the indexation of brackets and the result is higher revenues.”