From Senator to lobbyist screwing America out of millions in taxes... and back to the Senate

How is this what the Founders intended? How is this defensible, even if it is legal? Where is the indignation?

New York Times

When Cooper Industries, a century-old manufacturing company based in Texas, moved its headquarters to Bermuda to slash its American income tax bill, it had to turn to a Washington insider with extraordinary contacts to soothe a seething Congress.

Dan Coats, then a former senator and ambassador to Germany, served as co-chairman of a team of lobbyists in 2007 who worked behind the scenes to successfully block Senate legislation that would have terminated a tax loophole worth hundreds of millions of dollars in additional cash flow to Cooper Industries.

Now Mr. Coats, a Republican from Indiana, is about to make a striking transition. He is spinning the revolving door backward.

As part of the Republican wave in this year’s midterm elections, Mr. Coats will join the Senate again and is seeking a coveted spot on the Finance Committee, the same panel that tried to shut the tax loophole and that the Obama administration has pushed to again consider such a move.