A Quote by John McCain

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.
First, the oil and gas business pays its fair share of taxes. Despite the current debate on energy taxes, few businesses pay more in taxes than oil and gas companies. The worldwide effective tax rate for our industry in 2010 was 40 percent. That's higher than the U.S. statutory rate of 35 percent and the rate for manufacturers of 26.5 percent.
We owe to every businessperson and worker in America the best environment in the world to create a job. We owe that to American business. 35 percent corporate tax rate is the second highest in the world. We need to lower it so they don’t leave.
We're going to start making things again in America. As part of our plan to bring back our jobs, we're going to lower our business tax from 35 percent to 15 tax, the biggest since Ronald Reagan.
We're bringing the corporate rate down to 20 percent from 35 percent. That's a massive - this will be the biggest tax cut in history. In the history of our country. And that's great. And we need it. Because right now, our country's about the highest taxed or certainly one of the highest taxed in the world. And we can't have that. So we're going to have a country that's toward the lower end.
Texas has no income tax, which is a big draw for corporate executives who do business there. But it's hardly tax-free. The property taxes are high for a Southern state. The sales taxes are high. One study found that the bottom 20 percent of the Texas population pays 12 percent of its income in state and local taxes.
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.
I'm going to create tremendous jobs. And we're bringing GDP from, really, 1 percent, which is what it is now, and if Hillary Clinton got in, it will be less than zero. But we're bringing it from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent.
In 2010 the U.S. will have a payroll tax rate increase, an estate tax increase, and income tax increases. There's also a tax increase coming in 2010 on carried interest. This rate will rise from its current level of 15 percent to 35 percent, and then it will rise again in 2011.
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.
It makes no difference to a widow with her savings in a 5 percent passbook account whether she pays 100 percent income tax on her interest income during a period of zero inflation or pays no income tax during years of 5 percent inflation. Either way, she is 'taxed' in a manner that leaves her no real income whatsoever. Any money she spends comes right out of capital. She would find outrageous a 100 percent income tax but doesn't seem to notice that 5 percent inflation is the economic equivalent.
According to the Small Business Administration, more than 70 percent of all family businesses do not survive through the second generation, and 8 percent do not make it to a third.
The current business model for language education is the student pays — in particular, the student pays Rosetta Stone $500. The problem with this business model is that 95 percent of the world’s population doesn’t have $500.
The camera fails to capture the 'business' in show business! We typically will give 10 percent of our salary to the agent, 10 percent to the manager, and 5 percent to the lawyer, plus the publicist gets a flat fee, which needs to be budgeted for.
We own 18 percent of just the PC business. Now that's only about 60 percent of our business today.
Twenty five years in business, including business with other nations, competing with companies across the world, has given me an understanding of what it is that makes America a good place to grow and add jobs, and why jobs leave America - why businesses decide to locate here, and why they decide to locate somewhere else.
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