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Americans for Tax Reform President Grover Norquist on America’s high corporate tax rate and the need for tax reform.
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Corporate tax rate drops.
-- -- -- number one of the world my next guest says Washington better start cutting or companies are gonna start leaving Americans for Tax Reform president.
Grover Norquist -- this now.
Grover I mean it is sort edited and it is positioned to DN.
But here we -- -- Well the White House argues you know it's not what it appears the real rate the companies pay isn't nearly.
There that 35%.
Or so it's advertised to be you say what.
Well that's really -- on the part of the administration because if they don't understand the difference -- -- marginal tax rates which is the percentage of the last dollar you -- At an average tax rate I mean you can drown walking across a -- -- average depth of twelve inches.
You know what really matters is the last dollar that you -- -- what the what the tax rate is on that.
In the United States it's 35%.
The European average average in Europe is 25%.
Which means half of Europe is batter.
Then 25%.
We now have the highest tax rate on on corporations.
In the world and then these.
Politicians -- -- -- what's the matter how come we don't have jobs what's going on here we should be in a much stronger position we should take the corporate rate.
And the individual right which most small businesses in many big businesses actually pay the individual right.
Both have to come down a -- to 25%.
To Begin to be competitive in the world.
And by the way compare apples apples and oranges to oranges you have to -- for our company -- as he -- -- you need anomaly.
For them what they paid state and ancillary taxes on top right.
Of what -- paid to Uncle Sam in that it actually eclipses that rate.
But.
Unheard up cash position these companies -- that had anything.
They've increased that position.
Obviously there -- -- for something what.
Well god if Obama gets reelected.
Sixty days later there's a 409.
B.
Billion dollar tax increases the one tax cuts lack the capital gains tax reduction lapses the dividend tax.
Reduction lapses the AMT patch.
Is taken away in 31 million Americans get in the -- With the sort of the Buffett tax of years ago -- that.
That the AMT was put in is the Buffett can actually attacks a few rich people.
In 1969.
And I -- -- and what you're right -- -- to back it up like planes -- -- mentioned earlier today and they lawless by the end of this year.
What for a lame duck session of congress to deal with -- well.
Well it -- what it's gonna take is a different president to simply say all of these.
Tax cuts that lapse on January 1.
Will be extended for a year and during that time we sit down with the Paul Ryan plan.
And Dave Camp and hatch.
And rewrite the tax cut but first you have to take.
All of those deductions -- -- then the -- lower rates and so on they did disappear the AMT patch the R&D tax credit.
And just kick him out for a year so that we -- know that nothing changes -- people could make decisions.
And then let's go to real tax reform what's sad is the administration is holding.
Corporate tax reform as well as individual tax form hostage to their demands for more money when they've put forward.
Tax reform whenever you look at -- this about a trillion and a half dollars in tax increase may be to try and in tax increases inside tax reform.
And they've made it very clear to the Republicans on Capitol Hill they will be tell any tax reform that is not.
A massive tax increase when I talk to Democrats in that.
Gang of twelve at the end of last year the super committee.
They said the administration is demanding a trillion and a half and higher taxes before they'd think about talking.
About tax reform so we're -- -- rather raise tax sales and and he's holding it hostage Grover Norquist thank you good seeing --
