Jim Inhofe: “Well, good. I would like to make a couple of comments. That is not what I am here to talk about today. But this…”

“Well, good. I would like to make a couple of comments. That is not what I am here to talk about today. But this President has a commitment to do something about our tax system. I know there is a lot of class warfare that goes on and people are always talking about taxes and that the poor people are paying all the taxes. It is kind of interesting that this President wants to make a dramatic change in the tax structure. When I go back to my State of Oklahoma, no matter where I go the people are all united in saying they really want to have something different. The interesting thing is, I was riding yesterday with a CPA from Oklahoma and said: If we are successful in dramatically simplifying the Tax Code, why would you support that because you might be out of work? He said: I would gladly do it. I can always find something else. It is unfair and it is a system that needs to be cleaned up. I would only caution people who are watching what is going on in this Chamber, when we get into a discussion of changing the Tax Code, every time there is someone who suggests that you lower the marginal rates of taxation, they assume that this is an unjust burden on the lower income people. In fact, when this President did it he was lowering the tax rate on people who paid taxes. Obviously, if you don't pay taxes, you can't lower the rate. That is what he was faced with. Also, we learned a lesson following World War I when they raised taxes.…”