Disney CEO: U.S. taxes are '' expensive '.

Bob Iger: Disney can win in China
Disney CEO Bob Iger thinks companies– including his– are just paying too much in tax to Uncle Sam. Iger informed CNNMoney on Thursday that high business tax rates in the United States are “anti-competitive,” and described the nation’s tax system as “unbelievably complex.” “It doesn’t mean that a business should not pay taxes, however I think the structure is off … the tax base need to be reduced, and the loopholes should be closed,” Iger stated, without elaborating on prospective reforms. Related: Top 50 U.S. business hold $1.4 trillion in cash offshore Corporate taxes have been a flashpoint throughout the U.S. governmental campaign. Bernie Sanders, for example, has lambasted big business for utilizing loopholes to lower their tax expenses. Almost 20% of big U.S. corporations that reported an earnings on their monetary statements in 2012 wound up paying exactly absolutely nothing in U.S. business earnings taxes, according to a current report from the U.S. Federal government Responsibility Workplace, which conducted its analysis at the request of Sanders. That’s well listed below the 35% leading business earnings tax rate. Related: 20% of huge business pay absolutely no business taxes Sanders has actually specifically targeted Disney (DIS) in the past, accusing the business of exploiting workers and failing to pay them a living wage. The Democratic prospect has also called on the business to keep jobs in the United States Related: Bob Iger fires back at Bernie Sanders: ‘The number of tasks have you created?’ Iger once again declined Sanders’ arguments on Thursday, saying his company is a “positive for the United States and for the world.” “He chose the incorrect company to slam,” Iger said. “I believed that it was indicative of a person who had actually never stayed in business and had actually not made the effort to truly understand and value exactly what the meaning of business is to the country.”– With reporting from Jeanne Sahadi.

Leave a Reply

Your email address will not be published. Required fields are marked *