Informal Exchange With Reporters on Tax Reform

August 6, 1984

Q. Mr. President, Walter Mondale says you're not telling the truth when you say you won't raise taxes next year. He says you're going to have to do it, sir.

The President. Walter Mondale is not telling the truth. I've said it before, and I will say it again. And no matter how many of you try to put in a hedging line, we have no plans for, nor will I allow any plans for, a tax increase.

Q. Sir, the Congressional Budget Office is releasing figures today which says they think you're going to have bigger deficits than your own projections.

The President. They haven't told me yet.

Q. Mr. Vice President, you've been here before, haven't you, sir?

The Vice President. Second trip.

Q. Second? You missed the ride this morning.

The Vice President. Thanks.

Note: The exchange began at noon, prior to a luncheon meeting with the Vice President at Rancho del Cielo, the President's ranch near Santa Barbara, CA.

As printed above, the exchange follows the White House press release.