Latest installment in CBS’s march to the right came this morning when the producers of the CBS This Morning show, featuring Charlie Rose, chose (who else?) an archtypical one-percenter, “Neutron Jack”, to share his wisdom with the audience. Please examine this presentation closely and do file an opinion offering what YOU would have done as interviewer or producer for this show. Note the softballs, the glaring missed opportunities to set the correct frame for this discussion, and so on.Keep in mind that the corporate tax rate was about 50% from 1950s to 1970. Currently it’s 35%, but riddled with loopholes so the effective tax rate is ludicrously lower than that with some corporations paying no tax at all and/or receiving government subsidies.
We will publish all opinions and draw some conclusions. —Eds.
Welch: Obama on right path, but GOP still better
Watch Jack Welch’s full interview in the video player below.
Former General Electric CEO Jack Welch says President Barack Obama is moving in the right direction on corporate taxes and there’s “no question the economy is picking up,” but he will still support whoever wins the Republican nomination in November’s general election.
Mr. Obama is expected to propose lowering corporate tax rates from 35 percent to 28 percent Wednesday, while closing loopholes and ending subsidies to corporations.
Appearing on “CBS This Morning,” Welch said that Mr. Obama is “clearly” on the right path in terms of corporate tax policy and “as long as they go in this direction, it’s all good.” Still, he doesn’t anticipate anything concrete happening on corporate taxes in an election year.
The former GE executive also weighed in on the issue of taxes and wealth, which has become a hot-button issue after billionaire investor Warren Buffett said wealthy Americans like himself should pay a higher tax rate.
“I pay over 30 percent every year. It depends where you come from. … I don’t feel under-taxed in any way at all,” Welch said.
Assessing the race for the White House, Welch said that Republicans have taken their eye off ball recently, letting social issues, not the economy, dominate the debate.
“It’s going to depend on who has the best economic program, who, in fact, can assure the American people that they’re interested in jobs,” he said.
But regardless of who wins the nomination, Welch said he would support that candidate over Mr. Obama.
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