Larry Summers: belief

Transcript context

…Good afternoon. My question will relate to federal and state funding, maintaining bridges and roads. Specifically, companies like Amazon use every road in the nation, Weyerhaeuser uses roads to deliver logs, Kimberly-Clark to deliver diapers. Assuming that none of these pay a 35 percent tax rate, how would you pursue getting corporate America to fund the maintenance of our infrastructure, bridges, and roads? We all use our roads, and we all need to fund our infrastructure. After all, corporations aren’t separate entities. They’re creatures of their shareholders. I think there’s a lot that can be done to close corporate tax shelters of many different kinds. I would look, particularly, at issues relating to earnings stripping and relating to transfer pricing; where profits that genuinely should be taxed in the United States are transferred to tax havens as an alternative, would be the first place I’d look. Good afternoon. If you were in charge of the Her Majesty’s treasury in England, what would you do over the next few years to help protect the pound?…

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