On the recordFebruary 3, 2009
I don't know what people are to think when they watch this or hear this debate--he said, she said, they said, we said. At the end, the question is, What is real? What are the facts? So let me see if I can uncomplicate this. This isn't like trying to connect two plates of spaghetti. This is a place of public interest about what should we do to try to create jobs in this country. My colleagues say we are worried because there is so much foreign income overseas. That is not our worry. Our worry is that they have decided to take hundreds and hundreds of billions of overseas income that is required to pay an income tax when it comes back to this country and have said let's give those companies an 85-percent tax cut if they do what they had previously promised they were going to have to do anyway, and that is repatriate this income. That is what we are concerned about. So let me see if I can put it in the frame of a company--Huffy bicycles. A lot of people worked at Huffy bicycles for a long time. They made $11 an hour making Huffy bicycles, sold in Wal-Mart, Sears, and Kmart, capturing 20 percent of the American bicycle market. But they all got fired. They all lost their job because that company moved to China in search of 30-cent labor in Shenzhen, China. The last day of work at the Huffy plant in Ohio, the workers, as they left their jobs and pulled out of their parking space, left a pair of empty shoes where their car used to park.
Source
govinfo.gov




