Bloomberg.com: on Corporations


Bill de Blasio: Amazon exemplifies abuse of corporate power by leaving NYC

New York Mayor Bill de Blasio on Sunday slammed Amazon.com Inc.'s decision to pull out of a second headquarters in the city as "an example of an abuse of corporate power" that hurts working people. "Amazon just took their ball and went home," de Blasio said Sunday on NBC's "Meet the Press." "What they did was confirm people's worst fears about corporate America."... "They couldn't handle the heat in the kitchen," de Blasio said. "They let a lot of working people down in the bargain."
Source: Bloomberg News on 2020 presidential hopefuls Feb 17, 2019

Mike Bloomberg: Business have big cash reserves & need no tax cuts

A Wall Street Journal editor asked a room full of CEOs to raise their hands if the corporate tax cut being considered in Congress would lead them to invest more. Very few hands went up. Attending was Gary Cohn, President Donald Trump's economic adviser and a friend of mine. He asked: "Why aren't the other hands up?"

Allow me to answer that: We don't need the money.

Corporations are sitting on a record amount of cash reserves: nearly $2.3 trillion. That figure has been climbing steadily since the recession ended in 2009, and it's now double what it was in 2001. The reason CEOs aren't investing more of their liquid assets has little to do with the tax rate.

The largest economic challenges we face include a skills crisis that our public schools are not addressing, crumbling infrastructure that imperils our global competitiveness, wage stagnation coupled with growing wealth inequality, and rising deficits that will worsen as more baby boomers retire.

Source: OpEd by Michael Bloomberg in Bloomberg News Dec 15, 2017

Mike Bloomberg: Reduce 35% corporate tax by eliminating loopholes

I'm in favor of reducing the 35 percent corporate tax rate as part of a revenue-neutral tax reform effort. Right now, the corporate code is so convoluted, and rates so high relative to other nations (thereby creating an incentive to keep profits offshore), that the real rates companies pay can be wildly divergent. This is neither fair nor efficient. Eliminating loopholes and reining in the offshoring of profits can and should be done in a revenue-neutral overhaul of the tax code.
Source: OpEd by Michael Bloomberg in Bloomberg News Dec 15, 2017

Rick Perry: Lowering corporate tax rate 10% increase wages by 10%

Perry argued that lowering the corporate tax rate would without any question boost wages: "I mean, any accountant worth their salt will tell you that when you lower that corporate tax rate by 10% you're going to see a raising of 5% or 10% of wages. Every blue-collar worker in America ought to be standing up and saying 'I'm votin' for the Republicans because they're going to raise my wages.' Every one of 'em. You couple those two things together, the driving down of electricity costs because we're using North American energy--and frankly I'd a whole lot rather count on the Canadians and the Mexicans than the Venezuelans or some mullah from some Middle Eastern country for our energy. Think about that, North American energy lowering the cost of electricity in this country!"
Source: Bloomberg News 2015 coverage:Faith & Freedom D.C. conference Jun 22, 2015

  • The above quotations are from Bloomberg.com and Bloomberg News political coverage.
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2020 Presidential contenders on Corporations:
  Democrats running for President:
Sen.Michael Bennet (D-CO)
V.P.Joe Biden (D-DE)
Mayor Mike Bloomberg (I-NYC)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Sen.Cory Booker (D-NJ)
Secy.Julian Castro (D-TX)
Gov.Lincoln Chafee (L-RI)
Rep.John Delaney (D-MD)
Rep.Tulsi Gabbard (D-HI)
Sen.Amy Klobuchar (D-MN)
Gov.Deval Patrick (D-MA)
Sen.Bernie Sanders (I-VT)
CEO Tom Steyer (D-CA)
Sen.Elizabeth Warren (D-MA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)

2020 Third Party Candidates:
Rep.Justin Amash (L-MI)
CEO Don Blankenship (C-WV)
Gov.Lincoln Chafee (L-RI)
Howie Hawkins (G-NY)
Gov.Gary Johnson(L-NM)
Howard Schultz(I-WA)
Gov.Jesse Ventura (I-MN) 		Republicans running for President:
Sen.Ted Cruz(R-TX)
Gov.Larry Hogan (R-MD)
Gov.John Kasich(R-OH)
V.P.Mike Pence(R-IN)
Gov.Mark Sanford (R-SC)
Pres.Donald Trump(R-NY)
Rep.Joe Walsh (R-IL)
Gov.Bill Weld(R-MA & L-NY)

2020 Withdrawn Democratic Candidates:
Sen.Stacey Abrams (D-GA)
Mayor Bill de Blasio (D-NYC)
Sen.Kirsten Gillibrand (D-NY)
Sen.Mike Gravel (D-AK)
Sen.Kamala Harris (D-CA)
Gov.John Hickenlooper (D-CO)
Gov.Jay Inslee (D-WA)
Mayor Wayne Messam (D-FL)
Rep.Seth Moulton (D-MA)
Rep.Beto O`Rourke (D-TX)
Rep.Tim Ryan (D-CA)
Adm.Joe Sestak (D-PA)
Rep.Eric Swalwell (D-CA)
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Page last updated: Dec 15, 2021