Political Quotes

“Madam Chair, that is very good to hear. I join in supporting this amendment as a coauthor of it. Multinational corporations that do business around the globe have an even greater interest in world order and in national security. They should not be paying a lesser rate of taxes than corporations that focus their business right here in America. Unfortunately, some of them scheme to avoid their fair share and to shift the burden to smaller businesses and to individuals. Some of these same companies have on more than one occasion paid more to their lobbyists to lobby this Congress and the Treasury to avoid paying taxes than they actually pay to the Treasury. It has been a pretty wise investment for them because our Tax Code is a mess. It is riddled with preferences and loopholes and one exception after another. This amendment addresses one of the most egregious tax gimmicks. That is where a corporation actually renounces its American citizenship, declares itself a citizen of some other country, and then continues operations in America, demanding the full protection of the laws and the military and the educational system that it refuses to contribute a fair share to pay for. Tax lawyers call it an ``inversion''; I call it a perversion of our tax laws.…”