Political Quotes

“a new report indicates that 275 giant, multinational corporations have been paying taxes over the last 3 years at an effective rate which is actually less than the marginal rate, for a family making $35,000 a year. Over this same period, eighty-two companies paid zero or they got a refund in federal income taxes in at least 1 of these 3 years. These giant, multinational corporations are paying less than an insurance agency on East 7th in Austin, Texas; they are paying less than a used car dealer on South 23rd Street in McAllen, Texas or a cafe on Cage in Pham, Texas. They are paying less than hardworking families across this country trying to make a go of it, but having to bear much more than their fair share of the Federal tax load. But as if that were not outrageous enough, tonight, this Congress is about to pour more largess on those same multinationals that are not paying their fair share. Let me give some specific examples. Exxon Mobil down in Texas: Exxon Mobil received $4.3 billion in corporate tax subsidies over the last 3 years, yet they stand to share in something like ten times that much in this bill. About a third of the cost of this $140 billion corporate tax bonanza will reward companies like Exxon Mobil for moving more jobs overseas. Of course, they are a key part of the lobbying coalition that produced this bill. And at the top of the list of that lobbying coalition is General Electric.”