[Congressional Record Volume 142, Number 124 (Wednesday, September 11, 1996)]
[House]
[Page H10181]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            THE NEW AMERICA

  (Mr. TRAFICANT asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. TRAFICANT. Mr. Speaker, there is a new book out called ``The 
Complete Guide to Offshore Money Havens.'' A big ad in the Wall Street 
Journal says ``Make millions, protect your privacy and legally avoid 
paying any taxes on the profits.''
  Think about it. The New America. Invest overseas, hire foreign 
workers for pennies, then ship your product back to America. And do not 
worry if you make a profit; you do not even have to pay taxes on it.
  There are more loopholes in the U.S. Tax Code than those old hockey 
nets at the Boston Garden. Beam me up. The truth is, America keeps 
shipping jobs and money overseas, and America is getting in return two 
truckloads of mangoes and two baseball players to be named later. Think 
about that shot.

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