The Elkhard Truth - U.S. House Hopeful Bock Warns of Large Corporations Focused on 'Their Own Profitability,' Calls for Focus on Middle Class

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By Tim Vandenack

U.S. House hopeful Joe Bock sounded a populist message, speaking out against large corporations that manipulate the system to avoid taxes and warning of growing income inequality.

"This creates division within our society. It creates resentment," he said Monday, Oct. 27, addressing the Elkhart Rotary Club.

He singled out large corporations "more interested in their own profitability" that do things like move their headquarters overseas to avoid U.S. income taxes -- corporate inversions in economic parlance.

"I believe that that's not fair to small businesses. Small businesses are paying the regular corporate tax rate and we've got the big ones who are getting out of paying the regular corporate tax rate," said Bock, an instructor at the University of Notre Dame. "That's not the right road to be on."

His message is a sharp contrast to U.S. Rep. Jackie Walorski, the 2nd District freshman Republican Bock is trying to unseat in elections on Nov. 4. Walorski, who addressed the Rotary Club on Oct. 13, has sounded a pro-business message, critical of heavy-handed government involvement in private enterprise.

But in lamenting growing income inequality, Bock, a Democrat, took aim at corporate leaders "who are making multi-million dollar salaries" and multi-million dollar bonuses.

"How many yachts do they need? I don't think that they need as many yachts (as) they're getting. I think it's better to have a society that has companies that work for what's good for everybody," he said.

He called for an emphasis on small business operators and middle-class Americans, creating conditions that allow them to earn enough in a 40-hour work week to provide for their families and take "one modest vacation" per year.

"It's a road where we have robust small businesses, where small businesses are at the helm of our backbone in terms of economic development," Bock said. "It's the road that reinstates the American dream. It's the road where the middle class isn't withering on the vine."

TOLL ROAD, OBAMACARE

In response to a question from the audience, Bock questioned whether leasing the Indiana Toll Road to a private operator by the state of Indiana was a wise move. The operator filed for bankruptcy protection last September and is hoping to sell the lease or reorganize.

"In the long run, it's a big question as to whether this was really in our best interest because that's an asset that can generate revenue for road construction, etc.," Bock said.

The questioner indicated the toll road wasn't performing well while under state management, but Bock noted the lower toll road fees that users faced when operated by the state. Once leased, the private operator, the Indiana Toll Road Concession Co., boosted the fees.

"I just feel like sometimes, it's better for the government to do essential services rather than farm things out to private companies," Bock said.

Asked about the Affordable Care Act, or Obamacare, he said it has its pros and cons, but indicated it needs adjustment. On the down side, the cost of health insurance for some has ballooned and some plans don't allow those covered to see the physicians of their choice. On the flip side, he praised the provision that prohibits denial of insurance coverage based on pre-existing conditions, among other things.

Subtitle:
The Democratic candidate, challenging Rep. Jackie Walorski, addressed the Elkhart Rotary Club.

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