Today, the Financial Times featured a great article demonstrating the challenges American worldwide companies face as they try and compete in a global economy. In it, Muhtar Kent, Coca-Cola’s chief executive, states that the United States, as a result of political gridlock and an antiquated tax structure, places like China and Brazil have become an easier and more attractive place to do business.Doesn't anybody at the White House realize we're killing our own businesses?
As Mr. Kent notes, “I believe the US owes itself to create a 21st century tax policy for individuals as well as businesses…If you talk about an American company doing business in the world today with its Chinese, Russian, European or Japanese counterparts, of course we’re disadvantaged. A Chinese or Swiss company can do whatever it wants with those funds [earned overseas]. When we want to bring them back, we are faced with a very large tax burden.”
Tuesday, September 27, 2011
Because America has become a difficult place to do business (from the US Chamber of Commerce):
Posted by Rick Moore on 9/27/2011