Eugene Delgaudio - Sterling District
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August 27, 2014

Former Va. Governor Jim Gilmore just told me, on the record, how President Obama's tax policies are destroying American business and forcing them to leave the USA.

Gilmore says:

"In the past few weeks there's been a lot of talk about "inversion."

So what is inversion?

Inversion is a business method in which an American company like Fruit of the Loom or Sara Lee buys a smaller rival company located overseas and "inverts" or moves its corporate headquarters from the United States to the country of the smaller firm it just purchased.

Why is this happening? & It's the U.S. tax code.

The United States corporate tax rate is higher than any country and we tax more economic activity than any of our counterparts.

By moving their headquarters overseas companies lower their tax rate.

What does this mean for the U.S. Economy?

First, the U.S. loses jobs at corporate headquarters and factories, think about Coca-Cola moving from Atlanta to London or Ford moving from Detroit to Dusseldorf.

What's the big deal?

When a company inverts, it takes away tax revenue from the U.S., and more importantly, it costs real Americans their jobs.

The United States corporate income tax is out of line with the rest of the industrialized world.

We have higher tax rates and a broader base, meaning the United States has put itself at a global disadvantage in an increasingly competitive world.

That's why I'm asking for your help.

I'm calling for a tax reduction from 35% to 15% for businesses of all sizes.

It's time to rebuild the American economy and put hard working Americans back to work.

The U.S. must lower tax rates to compete and thrive. This will ultimately provide the greatest opportunity for all Americans."

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