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Former Michigan Governor John Engler breaks down how America’s CEO are reacting to the possible tax.
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If -- -- -- -- -- president Obama's top economic advisor Gene Sperling excess we need a global minimum tax.
Former Michigan governor and president of the business roundtable John -- is in DC and he joins us now all right governor.
You run an organizer nation which represents the top level CEOs in the United States of America and I'm wondering what the those people think of a new.
On specified -- global tax.
Well you know they also heard the president say wanted double exports now we think that's a really good goal but.
When you do that you create a lot of in com.
-- around the world and every other nation in the world says bring that money back to your home country.
For investment for research and development for dividends.
For lots of purposes.
Only the US literally the -- in the US among the OECD nations.
Is saying today.
-- -- and that money and then subject it to.
The tax in the nation where he earned it and -- -- care will tax it again it's simply.
-- wrong headed policy and we're saying.
Not always the corporate rate itself too high uncompetitive.
Need to be modernized.
Stewart but that policy on.
Foreign earnings is a silly policy -- it hurts.
US based companies here and it cost jobs and are kind of generally speaking amongst those CEOs.
Is this administration popular.
For its economic policies or is it losing popularity.
Oh I think it's lost popularity because I think the policies are so confusing.
And inconsistent.
And sometimes the rhetoric.
Says one thing but the policies actually go on a different direction and it deals CEOs flat out think that -- -- -- is just anti business period.
Well.
I think that you would get there's 210 members of the business roundtable.
There would be 210.
Opinions exactly on that question but there's no question.
That among them I think that today there is increasing concern about the drift.
A policy making in Washington and their chief executive so they always look at the chief executive as leading.
I think those of us who spent time in Washington.
Realize that the chief executive has a role -- -- congress and if part of the congress will never pass a budget it's hard for the total congress to pass a budget for example.
They think that the deficit needs to be resolved that you cannot.
Go on spending recklessly forever forgive me for asking a very political question -- but you -- the governor of Michigan.
And in that great state right now.
Mitchell Mitt Romney.
Is trailing.
Rick Santorum.
Can you explain that.
Well I I can't explain it I'm not -- there but I can explain Michigan and it's a very independent.
Minded state I was privileged to win three elections as governor in that state.
But it is eight blue collar hard working state and I think.
Rick Santorum of Pennsylvania background plays well but Mitt Romney himself is a son of Michigan he'd be the first Michigan born president.
Gerald Ford as the adopted son of Michigan but.
I think Romney in his campaign I think that will be doing this over the next few days.
Could be -- Michigan really addressing some of the economic questions Michigan is a state that votes pocketbook I've always felt.
It's a values state but it's at its core an economic stated there's a lot of effort to say well you're that Mitt Romney the son of the president bill -- of American motors sort of let the auto industry go.
His message a lot more subtle and Latin I think refined.
And in fact some of the things he talked about actually came to pass so.
The auto industry day is much more competitive but it too.
Frankly needs better tax policy.
At the national level the auto industry needs to see GDP growth above the one point 7%.
That it was last year.
I think we could do thirteen million vehicles -- Stewart but.
Today -- -- that's it that's a wonderful recovery.
But why people need income to buy cars okay government John Angela thanks for joining us value on the business roundtable representing CEO of electing me when you gotta -- you thanks a.
