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Walt Disney CEO Bob Iger on the need to rein in the corporate tax rate to improve the business environment in America.
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Walt Disney chairman and CEO Bob Iger opened up about what he thinks is the biggest impediment to his business right now here's more from that interview.
We pay the very high corporate tax rate as a company.
We know that America is very high among the highest in the world not the highest.
In terms of corporate tax rates that something that I believe has to change we've got to become more competitive we have to be a better place.
To do business sin in the corporate tax rate is one way I think.
That that can be improved and -- variety of issues I don't need to get into all of them but there's no question that loop -- have to be closed the rate has to come down.
Men and basically we've got -- make it easier for companies to base themselves in the United States.
And you do business on a much more competitive basis from the rest of the world.
What would you say to people who argue against that -- say that.
You know individuals are paying taxes well corporations get off lightly.
We're not looking for corporations to get off lightly.
Were looking for corporations to be taxed fairly.
There are -- number of corporations that do get off lightly because they take advantage of loopholes that we believe should be close to what we're basically saying is.
Not necessarily lower corporate taxes overall but change the system.
So that the the the basic blended number is lower you have a lower percentage being paid corporate taxes.
But that does Nestle and mean -- more corporate taxes -- aren't being generated.
I also believe that you have to as you do and any business.
Consider competitive.
Factors.
And -- the corporate tax rate in the UK for instance which is being decreased.
Is much more favorable then that's an incentive for companies to base their sell themselves there and to do business there.
That's not good for America because that creates.
A loss of jobs and a loss of revenue instead of the opposite.
This is a company that has created more jobs in this country.
Recently then than many other companies not just because of what we described in terms of the investment cycle.
But we basically believe in this country and doing business here but we need help.
In that regard as well we've got to become more competitive.
