Burgess Owens: “Today in America, 73 percent of the foreign corporations doing business in our country pay no Federal income tax, none…”

“Today in America, 73 percent of the foreign corporations doing business in our country pay no Federal income tax, none, zero; profitable, huge, multinational corporations. The U.S. Tax Code is full of credits and giveaways that actually encourage our firms to move overseas and move their jobs overseas. And guess what? The Republicans are saying that the middle-income taxpayers should carry the burden; they should subsidize the foreign mining corporations for removing billions of dollars of gold from our public lands in the West without paying 1 cent in royalties to the Federal Treasury. I am talking about the billions of dollars that the Federal Government gives to profitable corporations in the forms of subsidies, tax loopholes, outright gifts. And none of the other budgets on the floor today touch those giveaways. Darn right, we increase taxes. We are going to ask these corporate freeloaders to pay their fair share.”