[Congressional Record Volume 143, Number 104 (Tuesday, July 22, 1997)]
[House]
[Page H5499]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            PINOCCHI-NOMICS

  (Mr. HEFLEY asked and was given permission to address the House for 1 
minute.)
  Mr. HEFLEY. Mr. Speaker, I feel like we are surrounded by a bunch of 
Pinocchios. It appears we have two different groups of Pinocchios. On 
the one hand we have got some liberals who are calling millions of 
middle-class families rich by using something called family economic 
income. Family economic income is a magic formula that some ingenious 
bureaucrat at the Treasury Department dreamed up that means your income 
is actually 50 percent or more higher than people think it is. On the 
other hand we have got some liberals who want, now listen to this one, 
who want to reduce the income tax burden on people whose income tax 
burden is already zero. Their ideas of a tax cut is to, and now I am 
not making this up, is to increase the tax burden on the actual 
taxpayers to give tax decreases to those who pay no taxes. It is hard 
to know which group is growing the longest noses.
  I do not know how to decide which arguments are more absurd, the 
family economic income liberals or the tax cut to the welfare crowd. 
Mr. Speaker, this is Pinocchi-nomics.

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