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control inflation, he said. Instead Congress adopted a theory they could “control inflation by making it universal.” He said this does not work.
Sen. McCarthy said in the 1950s Clarence Cannon, of Missouri, chairman of the House Appropriations Committee, tried to adopt an overall budget when the Federal Budget was $50 billion. He went back to the old system of individual appropriations bills because he found the one bill too large. Now Congress tries to do the same thing with a $1.4 trillion budget, Sen. McCarthy said.
The reorganization of Congress " which led to increased numbers of committees and a decrease in the importance of seniority “distributed power but eliminated responsibility,” Sen. McCarthy said.
Another problem he sees with the effort to control what happens with an overall budget resolution is it dilutes the distinction in the Constitution between the responsibilities of the House of Representatives and the Senate. Under the Constitution the House has primary responsibility for budget matters and the Senate has greater responsibility for foreign policy. “The House acts like the Senate on foreign policy, and the Senate acts like the House on budget,” Sen. McCarthy said.
His suggestion for the way out of the current impasse: “Do away with the Federal Election Law; do away with the reorganization of Congress; do away with a budget resolution as a way to control the budget.”
Sen. McCarthy said another problem is that most wealth is no longer in wages and income, “and we’re trying to run the government on wages and income.” He suggested that rather than reducing the tax on capital gains, they should be taxed more.
96.4%