[Congressional Record Volume 167, Number 184 (Wednesday, October 20, 2021)]
[Senate]
[Page S7112]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                                Tax Code

  Madam President, now let me say one final word on a timely topic 
here.
  As you know, our body is going to soon be considering, I think, some 
changes to our Tax Code. We don't know exactly what they are.
  I just want to strongly encourage my colleagues and my friends--
because I like everybody in this body--if we are going to make changes 
to our Tax Code, to make those changes on the basis of sound economic 
principles. Don't make them on the basis of class warfare.
  Some of the proponents of some of the changes that I have seen 
discussed in the media, in my opinion, don't understand the complexity 
of the American economy. They just don't. They think of our economy as 
it was in primitive times, when our ancestors were hunters and 
gatherers.
  In those days, in primitive times, when our ancestors were hunters 
and gatherers, the only value that was created in the economy that we 
had was labor. It was all labor. And then, in those days, when somebody 
became rich, they became rich by exploiting the capital of others.
  In fact, that is what Marx talked about. Marx's concept of the 
economy was that the only value in an economy is work. And if you 
become wealthy in an economy, you become wealthy as a result of 
exploiting the labor of others.

  So Marx agreed with this description of the--I want to say our 
medieval, but it was way before medieval times, when our ancestors were 
hunters and gatherers.
  That is not the American economy today. The American economy today is 
the greatest economy in all of human history because it is a marriage 
of capital and labor.
  And capital and labor are not antagonistic. They work together. Now, 
it is not without friction. I understand that. But that is why we have 
become the greatest economy in all of human history. And when capital 
joins labor and the two contribute and play their own role, we are able 
to all work and save and invest and fund the research and development 
and do the innovative things that have given all of us the greatest 
quality of life in all of human history. So capital is not a bad thing; 
it is a good thing.
  And there has been a lot of talk around here about billionaires--bad, 
bad billionaires; they are not paying their fair share. I have never 
completely understood how you determine what the fair share is of 
somebody.
  Let me put it another way. I don't understand what the fair share is 
of what somebody else has worked for. I don't know what my fair share 
is of what Madam President's--what she has worked for. It is yours. You 
worked for it.
  But that aside, this talk about the bad, bad billionaires and they 
don't pay their fair share and they are hurting our economy and they 
only got rich based on exploiting other people's labor, I think, shows 
a gross misunderstanding of the complexity of the U.S. economy and a 
gross misunderstanding of free enterprise. And I hope we don't lose 
sight of that as we go about the process of making changes to our Tax 
Code.
  Let me say it again. If we make changes to our Tax Code, let's don't 
make them on the basis of class warfare. Let's make them on the basis 
of sound economic principles.
  So congratulations to Robert Travis Scott from PAR. Robert, I hope 
you have a wonderful retirement. Don't be moving back to South Carolina 
or Baltimore or other places. Stay in Louisiana.
  And, Mike, I miss you. Mike Enzi, I miss you.
  I have heard it said before that--I didn't say this, now; I am just 
repeating it--most Senators believe in God, and the rest of them think 
they are God. Mike Enzi was in the former category. Just a great man. 
Smart, good fisherman. But most of all, he was decent.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The bill clerk proceeded to call the roll.
  Mr. TOOMEY. Madam President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.