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Former Office Depot CEO Steve Odland on government’s impact on businesses and Americans.
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We are continuing now with our coverage of the presidential debate in Denver.
One question is what role that government plays in our lives we've seen that role increased dramatically.
Over the past four years with the Obama presidency.
How much is legitimate and how much is.
Considered not legitimate by the voting public a lot of people think that.
People have been persuaded by the degree to which the government has got involved in people's lives other people say that the Tea Party rebellion.
Stirred up for resentment toward several of the government what's -- Steve Odland about this he is.
Office Depot's CEO and we're pleased to welcome to now Steve good to see -- thanks for being here.
Good to be here David -- what does Mitt Robin let's start with the Republican message what does he have to make clear.
About the limit of the role of the government in our lives.
Well I think if you talk to most business people they'll say there are three legitimate roles for.
Government in business the first.
Is regulation.
And from a regulatory standpoint the role the government is to level the playing field.
A -- push the boundaries make sure that consumers aren't getting hurt but then.
Get out of the way in let businesses compete.
Not continue to change the rules of the game once -- into the game not continue.
To issue regulation after regulation so that's the regulation the second area is taxation.
Currently today business in America are taxed at the highest rate of any country in the world.
Now of course there are loopholes and people talk about that but those extraordinary rates are driving investment overseas.
And diminishing job creation here in the US we've got over two trillion dollars in cash sitting on.
Balance sheets of US corporations so taxation is an important area.
That the government needs to lower and to level the playing field from a global competitiveness standpoint.
The third area is investment in it's the role the government perhaps to invest in things like infrastructure.
And facilitate.
Business growth.
But not to pick winners and losers not to invest in specific companies not to pick industries and like cylinder and so forth.
And get out -- fund themselves -- I think those are the three areas that are most important.
In the role of government with business and it's important that.
Mitt Romney.
It delivers that message tonight -- Let me take you added to the first through the middle section where he talked about corporate taxes because the interesting thing is despite the fact that we now have.
The highest corporate tax rate in the developed world.
The effective tax rate because of all the deductions in the special deals and all of the things that -- worked out between the lawyers of the lobbyists in Washington and the politicians.
The effective tax rate is only about ten to 12%.
So we actually the government actually receives out of the two trillion dollars.
That that these corporations make -- profits the government -- receives about 200 billion why don't we just.
Maybe tonight's the night when he come out with a bold specific plan -- say look.
Rolling collecting 12% of revenue from corporations let's bring the corporate tax rate way down to 15%.
Make it very competitive and bring businesses back -- what -- to get -- -- Well you know I I think that's a great point in -- part of the reason why the effective tax rates -- office because so many businesses are running losses.
And have run losses of the financial crisis and you're able to carry those losses forward.
And offset some of the gains recently sell it's because corporations have been in such bad shape affected by this by this economy.
But I think Romney has sad and hopefully he'll say tonight reiterate.
That there are a lot of loopholes that have been created by congress now these are legal loopholes they have they have put incentives in place for businesses to take.
Certain deductions and his point of view is look let's let -- eliminate some of that and let's get back to an effective tax Steve Odland office DP depot and former CEO good to see is Steve thanks for -- and appreciated.
Let's go back -- a --
