Thursday, January 17, 2013

Brookings Institution: Robert McDonald: 'U.S. Tax Structure Hampers Competitiveness'

Source:Brookings Institution- talking to Robert McDonald.

"Robert McDonald, Procter & Gamble: Competiveness is key for economic growth and American competiveness is hampered by a tax structure that makes it hard for U.S. businesses to compete with corporations around the world. This has to change.

On January 15, the Brookings Institution brought together a distinguished group of private and public sector leaders for a day-long series of panels addressing fiscal challenges, U.S. manufacturing and government performance. Brookings experts have released several new papers on these topics with recommendations focused on the first 100 days... 

Minus what's known as corporate welfare and private companies able to move their workers and money out of the United States and even get subsidized by American taxpayers for doing exactly that, (which doesn't help American workers or our national debt and deficit outlook) I agree with Robert McDonald that our corporate tax rate is way too high, especially in the liberal democracy and capitalist system that we have. 

So eliminate corporate welfare or at the very least eliminate all the waste in the corporate tax code and we could have a corporate tax rate at around 15%. And start subsidizing our American workers, especially low-income and low-skilled workers and improve our economy, as well as our national debt and deficit outlook.

Liberal Democrat

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