Corporate Tax Reform Quotes

In 2013 Citigroup had profits of $6.4 billion in the United States. They paid no federal income tax and, in fact, received a rebate from the IRS of $260 million. That same year J.P. Morgan had $17.2 billion in profits in the U.S. They also paid no federal income tax. Do you think it's time for tax reform?

Corporate tax reform is nice in theory but tough in practice. It most likely requires lower tax rates and the closing of loopholes, which many companies are sure to fight. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating a sad race to zero.

I think there's a lot of Democrats that would favor reducing the corporate tax rate as long as we find a way to close loopholes so we have a way to pay for it.

The truth is, our corporate income taxes are some of the highest in the world, and frankly, in my judgment it's unpatriotic if you're not for reducing the corporate income tax. We want to make it so American companies are on a more level playing field competing with companies around the world.

I don't believe there's a red state in America where people believe you should cut Medicare, Social Security and veterans' benefits rather than doing away with corporate tax loopholes.

A politically astute president who understood deeply the economics and politics of corporate tax reform could conceivably muscle Congress toward a reform package that made sense. Trump is not that leader.

I think we're pretty much where we need to be on corporate taxes.

Everyone else is parsing it in terms of lowering the corporate income tax. Eliminate it. It's not that big of a generator of income, and it's a double tax. Get rid of it, and you would have an explosion of hiring.

We've been prepared to make the arguments for lowering corporation tax, which is all about encouraging risk takers, encouraging entrepreneurs, and I observe that for the vast majority of the Labour government we had a top rate of 40 per cent income tax. It's now higher, and I think we should look to get to a simpler, lower tax system.

Any reduction in the corporate tax rate must also come with closing loopholes that have allowed the largest businesses in our country to pay less than they owe.

We definitely are a supporter of lowering corporate income tax and managing through the reprehension of cash for companies because we do think that'll give them more ammunition to grow their businesses and expand what they do.

President Obama always gives lip service to lowering the corporate tax rate, but he never specifies a particular rate or an overall plan.

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.

If we could get the corporate tax rate down to, let's say, a maximum of 25 percent, it would be a sea change for this country. It would be great.

Capital available for individuals to start and expand businesses would increase with regulatory and strategic tax reforms, like reducing marginal rates, repealing the alternative minimum tax, and making the U.S. the most welcoming place for employers to relocate and create jobs.

To reduce repossessions caused by unemployment, Gordon Brown needs to look at cutting the rate of corporation tax for small companies to 20 per cent and the main rate to 25 per cent, while reducing the rate of employers' national insurance by 1% for the smallest companies.

The Trump administration's economic agenda is the right agenda. Corporate taxes have been driving capital and brains and companies overseas for a decade. It has caused huge damage in investment and jobs and productivity. It was a mistake. We have to fix it. Counterintuitively, that usually helps middle-class wages, and lower-class wages, and job formation.

Having a tax code that rewards companies that are shipping jobs overseas instead of companies that are investing here in the United States, that will not make us more competitive.

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.

When these people are going to put billions and billions of dollars into companies, and when they're going to bring $2.5 trillion back from overseas, where they can't bring the money back, because politicians like Secretary Hillary Clinton won't allow them to bring the money back, because the taxes are so onerous, and the bureaucratic red tape, so what - is so bad.

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.