A Quote by Frederick W. Smith
The United States tax system today is very prejudiced towards financialization, leverage, and lack of investment.
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In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States. Many American investors properly made use of this deferral in the conduct of their foreign investment.
The United States could transform its property tax system into a progressive tax on net worth without asking permission to the rest of the world.
You tax Mexico? The president of the United States is going to tax Mexico to get a wall for the United States of America? I'm pointing out the absurdity of a lot of these comments.
[High income tax rates] not only check consumption but discourage investment and encourage...the avoidance of taxes [rather] than the production of goods.[...]Our present tax system...reduces the financial incentives for personal effort, investment, and risk-taking.
We really believe that we can bring about changes in the tax code that will make America more attractive for investment and job creation and business. But the president has also made it very clear that he wants to put - he wants to put new elements in the tax code that are going to have companies pay a price if they decide to take jobs out of the country and then sell their goods back into the United States.
Canada has no closer friend, partner, and ally than the United States. We look forward to working very closely with President-elect Trump, his administration, and with the United States Congress in the years ahead, including on issues such as trade, investment, and international peace and security.
Income tax in particular in the United States is concentrated on the top half of the income distribution, and very heavily skewed towards the top 10 or even top 1 percent.
Democracy, in the United States rhetoric refers to a system of governance in which elite elements based in the business community control the state by virtue of their dominance of the private society, while the population observes quietly. So understood, democracy is a system of elite decision and public ratification, as in the United States itself. Correspondingly, popular involvement in the formation of public policy is considered a serious threat. It is not a step towards democracy; rather it constitutes a 'crisis of democracy' that must be overcome.
I have looked at public opinion polls in France in the late 1940s and early 1950s during the height of Marshall Plan aid. They had a very negative attitude towards the United States then. There were negative attitudes towards the United States because of Vietnam. There were negative attitudes about the United States when Reagan wanted to deploy intermediate range ballistic missiles. I don't think the president should base his foreign policy on American public opinion polls, let alone foreign public opinion polls.
The United States of American business pays the second-highest business taxes in the world, 35 percent. Ireland pays 11 percent. Now, if you're a business person, and you can locate any place in the world, then, obviously, if you go to the country where it's 11 percent tax versus 35 percent, you're going to be able to create jobs, increase your business, make more investment, et cetera. I want to cut that business tax. I want to cut it so that businesses will remain in the United States of America and create jobs.
God forbid that the United Kingdom should take a lead and introduce a sensible tax system of its own which would probably comprise a very low level of corporation tax - tax on corporate profits - and perhaps a low level of corporate sales tax, because sales are where they are, and sales in this country are sales here, which we can tax here.
The number one problem that keeps people from winning in the United States today is lack of belief in themselves.
I believe the United States should join the rest of the world through paid family and medical leave. It would cost us a $1.61 a week in an increase in payroll tax.I think that`s a great investment.
The United States can't keep a completely open system if the rest of the world is less open. The United States may have to take a leaf out of the book of Japan, China, and Germany, and have protectionism inside the system.
One of the high spots of the decade for me was offering the bill which culminated in the tax act of 1986, which brought rates down. That was the most difficult problem to solve: how to make the tax system of the United States more fair. We tried to make it simpler, but we failed on that one.
The United States is only one superpower. Today they lead the world. Nobody has doubts about it. Militarily. They also lead economically but they're getting weak. But they don't lead morally and politically anymore. The world has no leadership. The United States was always the last resort and hope for all other nations. There was the hope, whenever something was going wrong, one could count on the United States. Today, we lost that hope.
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