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Congressman Tom McClintock

Representing the 4th District of California

The Difference

March 20, 2013

The Difference

Van Hollen Amendment to Budget Act
House Chamber, Washington, D.C.
March 20, 2013
Mr. Chairman:
Democrats and Republicans both want to get rid of a wide range of tax loopholes.  But Democrats want to spend that money and Republicans want to lower the overall tax burden.
The difference is important.  
The United States has the highest corporate tax rate in the industrialized world – which is a principal reason why we are losing American jobs to nations with much lower taxes. 
As Economist Arthur Laffer has warned, there’s nothing more portable in this world than money.
This policy might fit the Left’s “eat the rich” crusade, but the jobs it destroys are eating the middle class alive.
We’re sacrificing permanent, upwardly mobile productive sector jobs with make-shift subsidized jobs that disappear the moment the money runs out.    
It is the difference between Fed Ex and the Post Office.  Or between Apple and Solyndra.  
And that’s all the difference in the world.
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Remarks delivered March 20th, 2013 in opposition to adoption of the Van Hollen (Democrat) Amendment to the Budget Act.