In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States. Many American investors properly made use of this deferral in the conduct of their foreign investment.

Neither smiles nor frowns, neither good intentions nor harsh words, are a substitute for strength.

You never know what's hit you. A gunshot is the perfect way.

The rising tide lifts all the boats.

The rights of every man are diminished when the rights of one man are threatened.

We've spent half the expenditures, we've wrecked our budget on all these other domestic programs, and the only justification for it, in my opinion, to do it in the pell-mell fashion is because we hope to beat them and demonstrate that starting behind them, as we did by a couple of years, by God, we passed them. I think it would be a helluva thing for us.

Whatever the political affiliation of our next President, whatever his views may be on all the issues and problems that rush in upon us, he must above all be the chief executive in every sense of the word.