Coburn Calls For Tax Repatriation Holiday

By Gabriella Landeros

Sen. Tom Coburn M.D. (R-Okla), writer of “The Debt Bomb: A Bold Plan to Stop Washington from Bankrupting America,” spoke on his views that would steer politics in the right direction.

With the theme “principled leadership” as the core of his book, Coburn stated, “If you want to change Washington, you have to change who’s here. You have to have people here who actually have real world experience outside of politics.”

Coburn added, “It’s leadership individually, by making this sacrifice…leading by example, and we just do not have that today in our parties, and in our president, and in our country in the political level.”

Coburn believes in maintaining the independence of Americans by creating solutions to “fix our broken entitlement system…It needs to be spoken to the American people, Medicare has to change to save it, same with Medicaid, and same with Social Security.”

The second solution for Coburn involves tax reform. He said American companies should be encouraged to investing “200 trillion sitting on the sideline.” Doing so, he said, would prevent businesses here from spending their profits overseas.

“The way we tax it now is that the money is going to be invested over there, wherever that is, and not brought home because of our punitive tax system and the fact that we don’t have a territorial tax system,” he said.

Coburn also argued that the U.S. is not using its natural resources efficiently, causing slow economic growth and lack of jobs.

“We’re sending 300 billion dollars a year out of this country, for oil and gas that we can produce here, and yet we have a policy not to do that. So if you think about 300 billion not going out of the country, and 300 billion staying here and being invested here, you would see a large response.”

Read the original article on the Talk Radio News Service site.