Political Quotes

“I am grateful to my colleague and friend from Connecticut for quoting some of the literally hundreds of letters that both of our offices have been receiving from Social Security recipients and also from veterans in my State. I suspect my colleagues from Massachusetts have been receiving the same letters. I want to thank Senator Warren for her leadership on this issue but also Senator Reed, who joined me some years ago in seeking to close the loophole that is fundamentally undermining not only the fairness but the effectiveness of our Tax Code. Let's understand what this loophole means to us as taxpayers. The performance pay loophole means that effectively unlimited corporate tax deductions are provided for executive pay. Put aside the issue of whether this pay makes sense or is fair, whether you agree or disagree with these gargantuan amounts. Who should pay for those extraordinary amounts of compensation? This loophole means that you and I as taxpayers are the ones who shoulder at least part of the burden. We do it because the money lost to the Federal Government as a result of this tax deduction must somehow be gained in some other way. Guess where it comes from. It comes from you and me--not from those corporations that can deduct it. It comes from you and me.…”