Bob Filner: “I would like to give if I may a specific example of this to try to bring really home what this corporate welfare means…”

“I would like to give if I may a specific example of this to try to bring really home what this corporate welfare means to this budget and what we could be doing as a Congress. Did you know that the 10 largest mutual insurance companies in this Nation pay virtually zero taxes on a large segment of their income because they have found a loophole in the tax laws that drives their taxes to zero? About 10 years ago the Congress of the United States passed a law or passed a provision of the Tax Code that was to provide fair taxation of our giant insurance industry.”