On tax inversion, Ryan said the answer is not passing legislation to block such transactions but embarking on tax reform that would reduce American corporate tax rates, which he said are the highest in the industrialized world.
“The U.S. government should stop inversions by doing comprehensive tax reform,” Ryan said. “The only way to stop inversions is to make our tax system more competitive.”
Anti-tax-inversion legislation actually would lead to more foreign companies buying American companies, he said.
“Simply putting up a fortress around America and these anti-inversion rules, all that will end up doing is it will accelerate the takeover of U.S. corporations by foreign corporations,” Ryan said.
Do you know what countries like Ireland are doing to combat inversions? Nothing. They don’t have to because they have a tax structure that attracts multinationals instead of driving them away. America should do the same.