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//
Is Obama Secretly Trying to Raise the Death Tax Again?
Is Obama Secretly Trying to Raise the Death Tax Again? Democrats and Republicans have been battling over the estate, or death tax for decades. Democrats always push for a higher rate, while republicans would like to completely eliminate it. During the most recent Bush administration the death tax dropped from 55 percent to 45 percent…
Mark Cuban’s Take on Donald Trump’s Taxes
Mark Cuban’s Take on Donald Trump’s Taxes If you follow the presidential election then you know that this year’s run for the Oval Office is perhaps one of the most spite-filled elections our country has ever faced. According to many political pundits, talking heads in the media and dozens of poll results, the last two…
States to Avoid when Retiring
States to Avoid when Retiring Are you on the verge of retirement, or perhaps just a few more years away but you’re ready to start making some retirement plans? There are many things to consider when it comes time to retire, not the least of which where you choose to call home. For many people,…
Tax-Free Spinoffs Could Be Much Tougher Under Proposed New Rules
Many U.S. companies take advantage of lower foreign taxes by creating tax-free spinoffs of their parent companies. It’s a great and legal way to lower their corporate tax bills. However, some lawmakers have long pressed for changes to these rules and it appears that changes could be coming. The U.S. Treasury Department recently proposed…