A Quote by John Delaney
A lack of reform - particularly in international tax - has hurt our ability to compete in a global economy by keeping U.S. corporate cash overseas and reducing domestic investment, slowing economic growth.
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Donald Trump wants to dramatically reduce America's corporate tax rate (to 15%) and thereby unleash economic growth. Hillary Clinton hasn't said a word about lowering corporate tax rates. Being a Fedzillacrat, you don't need to be an economic soothsayer to know that she supports taxing the producers and further strangling America's anemic economy.
We need to have the growth. If we simply look at this as being deficit-neutral, you're never going to get the type of tax reform and tax reductions that you need to get to sustain 3 percent economic growth. We really do believe that the tax code is what's holding back the American economy.
Our broken tax code is one of the main reasons the United States lags behind when it comes to economic growth, job creation, and competitiveness. Without pro-growth tax reform, our workers and our businesses will continue to suffer.
Tax increases slow economic growth. Why would you raise taxes? We need to reform spending, the tens of trillions of unfunded liabilities can never be funded by tax increases, that can only be fixed by reducing spending.
Trump's corporate tax reform would restore America's position as the most hospitable investment climate in the world. For a change, businesses and their cash would come back home.
In 1990, about 1 percent of American corporate profits were taken in tax havens like the Cayman Islands. By 2002, it was up to 17 percent, and it'll be up to 20-25 percent very quickly. It's a major problem. Fundamentally, we have a tax system designed for a national, industrial, wage economy, which is what we had in the early 1900s. We now live in a global, asset-based, services world. And we need to have a tax system that follows the economic order or it's going to interfere with economic growth, it's going to reduce people's incomes, and it's going to damage the US.
I think, definitely, this country needs a lower corporate tax rate and tax reform so that we can get our profits that we've made overseas back into the country without heavy penalties. And if that happens, I think that would be very good for the market and all of that.
I believe we need a balanced, bipartisan approach to debt reduction that includes a combination of spending cuts, investments in economic growth, and simplification of the tax code that closes corporate loopholes that incentivize companies to ship jobs overseas.
Repealing the estate tax won't create jobs, it won't boost GDP, and it won't add efficiency to the market. Instead, repealing the estate tax will simply add to the debt, hurt our ability to build a stronger economy and worsen economic inequality.
Almost everyone agrees that corporate tax rates need to be cut because of global competition. Companies should not be able to stash earnings overseas tax-free.
You've got to have tax reform to get faster economic growth. Faster economic growth is necessary for us to get our debt under control.
Our best days are in front of us. We can reform those entitlements, we can change that corporate tax code and lower it. We can put America back on track on a growth level and a growth rate that we've never seen in the history of this country.
A successful economic development strategy must focus on improving the skills of the area's workforce, reducing the cost of doing business and making available the resources business needs to compete and thrive in today's global economy.
Getting the budget balanced, regulatory reform, tax reform - I think these lead to economic growth.
Educating our children and giving them the skills they need to compete in a global economy is a smart investment in our country's future.
Physical infrastructure remains important (particularly in developing nations), but concurrently investing in the development of a knowledge-based economy is essential to sustaining healthy economic growth and creating well-paying jobs in a highly competitive, ideas-driven global economy.
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