By Odd Man Out
What a surprise. It seems those those CEOs from Business Roundtable who met behind closed doors with Barack Obama Tuesday and with “blue dog” Democrats on Capitol Hill yesterday were much more interested in pushing for lower corporate tax rates than in discussing job creation. The CEOs argued that Congress “tax reform” shouldn’t be delayed until after the November elections. One of them, quoted in Roll Call, repeated an oft-heard complaint about corporate tax rates in America:
Procter & Gamble’s president and CEO Bob McDonald, who chairs the Roundtable’s tax and fiscal policy committee, said that the country’s corporate tax rate will become the highest in the world when Japan lowers its rate three weeks from now. The Obama administration recently released its own proposal for lowering the corporate tax rate from about 35 percent to about 28 percent. The CEOs said they support lowering it to about 25 percent.
McDonald is a liar, and Roll Call should have said so — politely, of course — by citing, as Salon did in November, the results of a study conducted by Citizens for Tax Justice and the Institute on Taxation and Economic Policy. More here.