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America to about to become number one but businesses aren't cheering this one because they have to Japan cuts corporate income taxes -- a few weeks the US.
Who will then have the highest rate on -- part of America group CEO Mike Whalen says.
-- cut now to be more competitive he owns more than thirty restaurants in the midwest and -- a member of the jobs creators alliance created by Home Depot co-founder Bernie markets very good to have you Michael thanks coming in a -- -- you know it's interesting when you look at that at this great stuff Democrats or liberals more the point will come back and say.
Well they they might we might have did the highest advertised rate but it's really not that I very few companies pay -- -- advertised.
Rate it's more like in the in the low teens as an average so on average are rate isn't nearly so -- -- Well I'm George Scott movie patents that Americans love winner but I don't think this is where we want to be number one weather anomaly -- effectively.
You know I think if we do have a 35% tax rate -- people were paying a lot less.
Let's just cut that rate down to what the averages and cut out the loopholes and I think the deaths when a lot of women.
Now let's say president wants to do with the 28%.
-- -- say even that.
Obviously would be raising rates because of your -- realistically 1213 1415%.
On -- 8% is a lot higher.
Well the -- Lindsay didn't just delays in today's it 25% with a lot less loopholes.
-- -- twelve and at present Switzerland's -- have legitimate sort of but up but I -- not exactly firing on all cylinders so.
Democrats turn around -- -- about.
Dismisses -- point.
Well you know no it doesn't disappointed some -- and couple things.
B -- one thing we have a global tax system not a territorial taxes and so we play this game about repatriating the money that our companies have made overseas.
An American companies are moving with their feet.
46 American fortune global 500 companies.
Have left the Americas there headquarters since the beginning of the current is that this is driving that micro or the cost of labor -- it's cheaper to go.
Hire folks abroad today is here even with all the jawboning you get from the white expect.
While there's no doubt about it is not one factor in this isn't the only factor but do you do and ignore the fact that -- at least not only on Paper.
We are number one in the highest corporate tax rate -- you know what's interesting is.
This isn't really a partisan issue I'm hearing people from both sides -- recognizing.
That we need to lower down close the loopholes and make it clear that America isn't going to be the highest tax place in the world.
We read about that I do is just -- a -- -- -- -- this issue came up equal number of you know liberals to bend conservatives and every one of the generals and the same thing taxes -- to analyze how to do -- about it thank you Michael good good points all.
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