John McCain: Town Hall 6/11/08

John McCain
Town Hall
Philadelphia, PA 06/11/08

TRANSCRIPT:
[...]
JOHN MCCAIN: "It's a great privilege for me to have had the opportunity to serve but could I just ask all of our veterans to stand so we can all thank them. Thank you for, thank you for your service, than you for being here, thank you very much, thank you and god bless, thank you."

QUESTIONER: "Can I first say that it was a humbling and very exhilarating experience to go down to South Carolina and volunteer for your staff down there. It was probably the five best days of my life."

MCCAIN: "Thank you"

QUESTIONER: "I would like to ask you, when you will finally have Barack Obama show up to a town hall meeting to have a conversation, will you just please do me one favor and remind him of what Ronald Reagan reminded of us decades ago; corporations collect taxes they do not pay taxes. And I'm sick and tired of hearing about these windfall taxes cause it's going to be my mother, my grandmother, my Aunt Bobs, my family members, my friends, who really can't afford it, to pay more."

[...]

MCCAIN: "There are executives of corporations that are giving the free enterprise system a bad name. Ok. There's people that have taken too generous of a package to say the least. Sometimes obscene and was not reflected by the performance of the corporation that they headed or played key roles in. If there's been speculation, and if there's been misbehavior, then there should be full and complete investigations and those people should be penalized for whatever laws they have broken or rules and regulations they have broken. But know let me talk to you about corporate taxes for a second. The corporate tax level in the United States of America is 35%. It's the second highest in the world. I was just told by John Chambers, who as you know does business, Cysco does business all over the entire globe. How many employees? 65 thousand employees. Now John Chambers mentioned to me that in Ireland the corporate tax is 11. Ours is 35%, Ireland is 11. Ireland is a beautiful country, as you well know. So businesses and corporations sometimes will go to those other countries and set up operations there because of the lower tax rates. Now ours is the second highest in the world, only Japan is higher and obviously the Japanese economy has not been a model for ours. So I've advocated lowering the corporate tax from 35 to 25%. I don't view that as a quote break for corporations, I view it as an incentive for them to stay in the United States of America, hire people, have jobs, have their headquarters here. So the next time that you hear this bit about loopholes for corporations ect. If they're loopholes then I want them closed, but if it's a matter of corporate taxes then I want lower taxes so we can do exactly what I just described to you. Thank you."

LABEL: JM PA 6-11 (GR#87) SGIAT - Clip D

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Category:

News & Politics

Tags:

• TRACKING
• John
• McCain
• Economy
• Corporations
• Taxes
• CEO

[andyplace]

Ours is 40%, US is not second highest, Ireland's is 12.5%.