On the recordMay 19, 2011
Our corporate rate is 35 percent. That is the highest in the world, other than Japan's. It is causing a lot of corporations to leave our country. In the 1970s, 39 of the top 50 multinational corporations in the world were based in the United States. Today there are only 16--that was the last figure I heard--which is low. The reason is we are taxing them to death, and we have a lot of other screwy tax aspects that don't work. We can solve all these problems if we just get a decent budget and work to bring spending under control and get on a downward trend with regard to spending. I have to say, we cannot do it without budget debates and balance. Our friends on the other side don't seem to be able to get their caucus together and allow the chairman to come up with a budget on time, in a way that will help us debate this matter and, hopefully, resolve it on the Senate floor.
