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World sounds bad these corporations like g.e. don t pay any taxes? g.e. literally doesn t pay any taxes or it didn t two years ago. did a little better last year. i don t know if that s jeffrey immelt as ceo working with president obama. they upped it a little bit. effective tax rate for corporate america depending on how you calculate it runs anywhere from 12.5 to 26%. bill: that s reasonable, right? that s reasonable. bill: flat tax it and knock out all the loopholes or keep the loopholes and they pay 12 to 26. exactly. another little factor in here never discussed. that is american corporations aren t paying a back tax. the european countries,. vat. right, value-added taxes. contribute more than they contribute to theirs. in taxes, certainly. bill: american corporations have a pretty good deal. they have a pretty good deal. you have payroll taxes to add ....
Would come into play? well, the answer is no, i don t worry and here s why. number one, introducing a sales tax, let me clarify one of the other false attacks from the debate. it is not a back tax. even governor perry is referring it it as a back tax. it s not a back tax. it s a single rate tax at the retail register. the other reason that i don tin worry is because, first of all, it s visible. the american public, they re going to be the ones to holdible congress s feet to the fire and not run away with raising 999 to some other outrageous number. the other thing is introducing a national sales tax, we throw out 82,000 ways for us to be taxed with the 82,000 page tax code. you and i both know that thean current tax code is filled with sneak ataxes and we many times don t know how we ve been taxed. i m not worried about that. ....
Toronto. i have to side with europe when it come to this. president obama thinks if we keep spending the economy will pick up the economy. it has picked up a bit. but where is the money coming from? it sounds fantastic to keep people from - getting employed. you side with europe. but germany is held up of a marker has what they can be. they have a massive back tax and germany itself may be on the verge of disaster as well high taxes and they didn t want to pend money to greece and so they are cutting back and not spending and it doesn t seem like it is the solution. what is the alternative? we are in a precarious situation. all countries it is tough to raise money because you don t want to give them money because you are concerned you are going broke. ....
York city to continue his attack. stuart varney, we ll be watching at 9:20 eastern time because you are a part of varney & company and you are the reason for it. indeed i am. i lend my name to it. thank you. what a guy! all right. i would pay the back tax to get stuart varney on the show. coming up straight ahead the school accused of spying on students on laptops in their own homes. can you believe that? well, a scandal that s getting even worse, folks. we ll explain. and too heavy to serve america? serious problem. a recruiter joins us straight ahead to tell us how fit you ve got to be to join the army. maybe actually enlist or the b.m.i. or the b.m.i. washington, d.c. ....
Goolsby. good to have you. international man of mystery. thanks for being here, austan. greatly appreciate it. we re going to ask him whether he s the one that pushes this back tax. what s that about? no. it s not about that. there s nothing about that. we ll get to it, because new york times john harwood yesterday reporting the white house considering a back tax. i think george will has an opinion about this that he wrote recently. as a republican, i m scared to death they ll pass it because the back tax is going to be popular. the democrats, 50, 60, maybe 70 seats. raise taxes more. we re just ribbing you here. but we will actually let you respond in a second after mika does the news. it s good to have you here. it s great to see you guys. are you telling me the truth? yeah, i ve never been in the studio before. this is nice. did you meet kenneth dupage? i don t think i m going to answer that question. ....