Carl Levin actually said...

"So a Cayman corporation is not subject to U.S. tax or any other corporate income tax, so they can accumulate and invest money more quickly than corporations which do pay taxes."

"So now the question is whether or not they can avoid that impact by creating a shell corporation, which everyone agrees is a paper corporation with no business purpose, no economic purpose down in the..."

"But you do agree that if they violated those income restrictions in that Tax Code Section 851, they would then have to pay the corporate income tax?"

"We have been hurt at the pump, we have been hurt at the dinner table, and we have been hurt in our pocketbooks."