Senator Byron Dorgan just finished his speech on the Senate floor, as just seen on C-Span, blasting corporations for seeking to renounce their "American citizenship" to avoid paying their taxes here. They, like 12,000 other corporations who moved "offshore" to the Cayman Islands, apparently don't feel they should carry the responsibilities of American citizenship anymore!
Please follow my rant under the fold...
This is a travesty. Why have we allowed this to happen? I applaud Senator Dorgan for trying to block this loophole in the tax code, but he, like the late Senator Wellstone, is now a marked man. We all know what happened to him. His voice is now silenced.
I urge all kossacks to write their Senators and give a resounding "Hell yes" to closing the corporate loopholes which currently allow our corporations to buy property overseas and "lease-back" those assets to their country of origin, and raking-in in millions of dollars of "unearned" depreciations and tax-breaks.
I applaud Senator Byron Dorgan's untiring efforts, but he is now a marked man. The corporations will not take this lying down. We should all give him a "standing ovation" for his courage to stand for the American people. Unfortunately, he and true leaders like him, are few and far between. He sets the standard for true American citizenship and defines true patriotism. I hope his flame is not extinguished by the corporations, who are surely now going to be "gunning" for him.