Bernie Sanders Quotes
When I talked about Boeing and I talked about General Electric, what I was referring to is an outrage... Right now you have a loophole such that these guys are putting their profits, multi-billion dollar profitable corporations putting billions of dollars into the Cayman Islands, Bermuda, and other tax havens.
Sanders, Bernie. "Democratic Primary Debate." NBC News, 17 Jan. 2016. Transcript.
Romney, a very wealthy businessman running for President as a Republican, had owned and controlled companies that had outsourced jobs abroad. In addition, he personally maintained large bank accounts in Switzerland and Caribbean tax havens and kept his tax returns secret to minimize his exposure. Ironically, there was nothing illegal in his maintaining such accounts, and most very wealthy people did. However, Romney, never secure in his own skin, didn’t want his opponents to focus on the fact that he did what rich people did and what most middle class and poor people rarely did and considered somewhat unpatriotic. So this insult was very effective as most people thought that when the American banks were in danger of collapsing in the Meltdown of 2008, and had to be bailed out by the taxpayers, he would not keep much of his money in the American banking system—easy to understand for a wealthy investor, but not so good for a politician claiming to have the nation’s interest as a first priority. Many conservatives argued that it was patriotic for a citizen to maximize his personal wealth and economic security and Romney should have defended his actions so Romney was caught in the middle, hence a good target for his opponents.
The President was asked his opinion of his opponents proposal to roll back the large tax cuts that he had passed for wealthy people. Instead of commenting on the societal aspect of the question, he took it from the point of view of the rich.
Tax breaks and deductions had become so prolific and complex that most of the larger corporations paid not only a smaller percentage of taxes than many small businesses, but also paid a smaller amount.
Bernard Sanders is an American politician who has served as the junior United States senator from Vermont since 2007 and as U.S. Representative for the state's at-large congressional district from 1991 to 2007. He is the longest-serving independent in U.S. congressional history, although he has a close relationship with the Democratic Party, having caucused with House and Senate Democrats for most of his congressional career. Sanders unsuccessfully sought the Democratic Party nomination for president of the United States in 2016 and 2020, finishing in second place in both campaigns. Before his election to Congress, he was mayor of Burlington, Vermont.