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.

We prefer world law in the age of self-determination to world war in the age of mass extermination.

It is not our wealth that built our roads, but it is our roads that built our wealth.

Great crises produce great men, and great deeds of courage.

Any system of government will work when everything is going well. It's the system that functions in the pinches that survive

When you have seven percent unemployed, you have ninety-three percent working.

Let us never negotiate out of fear. But let us never fear to negotiate.