April 9, 2016

Who will look out for the poor widows and orphans people? No, this is not a parody. This is from an actual segment on Faux "news." During a discussion about corporate taxes supposedly being way too high in the United States on Fox's Bulls & Bears, wife of former General Electric CEO Jack Welch, Suzy Welch said this in response to one of the other guests, Nomiki Konst, bringing up the topic of corporations outsourcing their jobs overseas:

WELCH: Nomiki, they're moving overseas because they are seeking better tax treatment (crosstalk). And Nomiki, before you say this is just the fat cats who want to make more higher salaries, that's not the case. It's because they want to return higher returns to shareholders, who happen to be widows and orphans along with people of average means.

And so, yes the corporations are shopping for lower taxes, because we have a ridiculous tax code for corporations in the United States, and there's two trillion dollars that's overseas when it shouldn't be. That's yet another reason why we have to reform the tax code because we're losing corporate taxes here because of our terrible tax code.

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