Obama’s Job Czar GE CEO Jeffrey Immelt: ‘Personally, I Think Tax Cuts Will Create Jobs’

Jeffrey Immelt, CEO of General Electric and President Obama’s “jobs czar,” criticized the current American tax system while apparently opposing President Obama’s call for tax increases to pay for jobs spending.

According to a preview of his interview with “60 Minutes” on CBS, airing this Sunday, Immelt recommended a tax code like that found in some European countries

I think we should have basically the same tax policy that Germany, Japan, the UK – everybody else has, which is a tax rate in the mid-20s and no loopholes. Zero,” he tells Stahl. “The U.S. has the most antiquated tax system. And that means some people are going to pay more taxes, and some people are going to pay less,” Immelt says.

By mentioning the “mid-20s” tax rate, Immelt seems to endorse former President Bill Clinton’s suggestion that the United States corporate rate be cut. “We should cut the [corporate tax] rate to 25 percent, or whatever’s competitive, and eliminate a lot of the deductions so that we still get a fair amount,” Clinton said in July.



Sign up for our daily email and get the stories everyone is talking about.


Previous post

Obama's Weird Argument: GOP Needs to 'Prove' My Plan Won't Work

Next post

DC Organizer Admits to Paying ‘Occupy DC’ Protesters

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.