Barney Frank: Exec. Action on Corporate Taxes Is Obama’s ‘Make My Day Moment’

LAWRENCE O’DONNELL: “And Barney, a quick thing I want to get to before we go, which is this issue of inversions, which the president talked about, which is the American companies deciding you know what? We’ve got to relocate our technical world headquarters to another country to skip taxes.”
BARNEY FRANK: “For Barack Obama, this is a make my day moment. He said, apparently, that he has some ways that he can use executive authority to stop companies that have benefited from America — think of the drug companies who get the highest drug prices in the world in America. Because these American drug companies say you have to help us do the research. So when President Obama says he’s going to do everything he can without Congress, if he has to, to stop them from benefiting from America and taking their tax money and paying it elsewhere. If the Republicans want to challenge that, that’s a make my day moment. In fact, I will be urging my former Democratic colleagues, they ought to say, you know, we have a Contract with America in 1995. We have a lot of people now trying to break a contract that we thought to have with America to help contribute to the society as they benefit from it. I think it ought to be — every member of Congress ought to announce now how he or she is going to vote next year on blocking these inversions. And if the Republican party wants to protect the right of these companies to benefit from America and take taxes elsewhere, let’s make that the issue in the November elections.”