Chuck Grassley: “I think the thing for him to remember about closing these tax loopholes, we are taking in money from dishonest…”

“I think the thing for him to remember about closing these tax loopholes, we are taking in money from dishonest taxpayers, whereas he is taking money away from honest taxpayers by raising the marginal tax rate. When I close those loopholes, have dishonest taxpayers pay taxes they ought to be paying anyway--except for the fact that they buy tax shelters put together by big corporate lawyers, big accounting firms, and big investment bankers--I am getting money from dishonest taxpayers. But in the bill that I referred to, the JOBS bill, we reduce taxes in America so that companies that do manufacture in the United States will pay less corporate tax as an incentive to create jobs in America. We are taking money from dishonest taxpayers, but we are putting it right back into the economy in the private sector by reduced taxes for people who do manufacturing in America to create jobs. So I think I am totally consistent.”