Pittenger: Shame on Us for High Tax Rate


Date: Aug. 27, 2014
Location: Charlotte, NC

This morning, Congressman Robert Pittenger (NC-09), a Member of the House Committee on Financial Services, appeared on CNBC's Squawk on the Street to discuss tax inversions and the economic danger created by America's excessive corporate tax rate.

"Companies are doing whatever they must do to try to survive. Look at the enormous burden that's been placed on them in a high regulatory environment. Look at the cost of the unaffordable health care act, plus the highest corporate rate in the industrialized world. These companies are trying to compete in global markets.

"I would never boycott Burger King. We should be driven by competitive markets. Shame on us for having the highest corporate tax rate in the world. We cannot blame a company for trying to expand their markets and trying to compete.

We need a fair and simpler tax code. Our tax code is 70,000 pages, and it's that large because of these special carve outs. I'm against that. We shouldn't have that. We should have a tax burden that's fair for everyone."