Disney and the Not-So-Wonderful World of Taxes

 

Disneyland is often referred to as the happiest place on earth, but according to the Disney Company’s CEO, Robert Iger, the U.S. tax system and policies are putting a real damper on all the fun. According to a recent report from CNNMoney, Mr. Iger told the news outlet that the country’s corporate tax rates are “anti-competitive” and the tax system is “ridiculously complex.”

Mr. Iger is not against corporations paying their fair share of taxes, but he says the tax rate should be lowered. He also said by lowering the tax base it would allow the government to close several loopholes that permit many of the biggest and wealthiest companies in the United States to essentially pay no taxes at all.

Mr. Iger’s comments cone after presidential candidate Bernie Sanders criticized Disney for not paying its employees a fair wage and for moving many of its jobs overseas. However, Mr. Iger strongly disagrees with Mr. Sanders and claims that his company is helping the U.S and the world in many positive ways.

Corporate taxes continue to be a hot-button issue on the campaign trail during this election and although Mr. Sanders has apparently lost his bid to be the democratic nominee, he continues to push for higher taxes on the wealthy and for big business. However, Mr. Iger feels that Mr. Sanders lacks the business experience to make such claims and says the real focus should be on overhauling corporate tax policies.

http://money.cnn.com/2016/06/09/news/disney-ceo-bob-iger-taxes//

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