Two brief points. First, the Senator from New Hampshire describes what is an entirely reasonable point, it seems to me, if we are talking about land sold by the United States in the future. But in effect he is saying a policy we ought to adopt is one that would be analogous to something in my own State, where 20 years ago you sold shares of stock in Microsoft for $10 a share and they are now worth $100,000 a share today, and he says, 'Gee, I made a bad bargain. I ought to get some more of that back. I want a share of that profit.' That goes to the equities of the position. The point before the Senate now is whether or not we can constitutionally deal with this. The Senator from Louisiana made the perfect argument on our side. She said we aren't getting enough taxes, we need to get more taxes out of these lands. That is exactly what the Senator proposes to do--tax these lands. Tax bills must originate in the House of Representatives. This does not originate in the House of Representatives. It is not something that this body constitutionally can deal with. That is the point on which we are going to vote.
Editor's note · Context
Discussing constitutional issues related to taxation of lands during Senate debate.
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