A Quote by Dennis Muilenburg
I know things like a 20% corporate tax rate will allow us to be more competitive in the global marketplace. That's what our competitors enjoy today around the world. And when we're more competitive, we win in the marketplace, and that allows us to invest and grow for the future.
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This marketplace where people can buy insurance who don't have it today, a competitive marketplace - that's an idea that both sides embrace.
This marketplace where people can buy insurance who don't have it today - a competitive marketplace: That's an idea that both sides embrace.
By giving every child a fair start, we are improving our collective future, including the private sector's ability to find talent in a very competitive global marketplace.
Obama wants to take the individual small business tax to 44 percent, and the corporate rate - he says - down to 28 percent or whatever. But that really damages the small businesses. And it doesn't make us competitive. You got to take them both down to 20, because state and local corporate taxes are 5 percent.
You got to remember, S corporations pay one layer of tax, corporations pay two layers of tax. So we basically see equivalent, but here`s the point. The rest of the world, they tax their businesses at an average rate in the industrialized world of 23 percent. Our corporate is 35. Our top S corporate, small business rate is 44.6 effectively. This is killing us.
I forget what the relevant American rate is, but I can tell you that our goal is to have a combined federal-provincial corporate tax rate of no more than 25 percent. We're on target to do that by 2012. We will have significantly - by a significant margin the lowest corporate tax rates in the G-7, and that's our - our government's objective.
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We do a lot of great things, but it's a competitive league. A lot of great guys around us do the work and help us elevate our game, and that's what makes the NFL so special. We have a lot of competitive players who are the best in the world at what they do, and they all compete against each other.
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To be competitive globally, we have to reduce the corporate tax rate.
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A tobacco industry has been a fairly linear and predictable industry. You know what's going to happen every year. You know from time to time you are going to have a tax increase, you are going to have regulatory restriction, but, as it applies to everybody, I think we are doing very well. But now it's much more technology-driven. Competitors other than our traditional competitors can come in, whether legitimate or fly-by-night ones, and you have to anticipate all those things. The whole organization has to gear up to this new reality and these new competitive rules around it.
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I think the first thing that goes through my mind, when I think about corporate tax, is that we need to think about where we set the rate on a global basis, and make sure that the U.S. is competitive.
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