Friday, February 5, 2010

“I am really worried about the United States … more worried than I’ve ever been in my career” Bob McDonald, CEO, Proctor and Gamble

John J. Castellani, president of the Business Roundtable, an association of chief executive officers of large U.S. companies, had this to say in May when Obama first proposed the changes: “President Obama’s plan today to increase taxes on American corporations is the wrong idea at the wrong time for the wrong reasons. This plan will reduce the ability of U.S. companies to compete in foreign markets, which will not only reduce jobs, but will also cripple economic growth here in the United States. It couldn’t come at a worse time.”
"I worry a lot about the United States," McDonald told Reuters in an interview from his company's Cincinnati headquarters. "I worry about the deficit, I worry about an uncertain future."
McDonald said he has told government officials that they must "create greater certainty for business." The shift in tax policy toward multinational companies "would be a dumb thing to do" as it would make U.S. companies less competitive versus foreign ones.