John Engler, president of the National Association of Manufacturers, was on CNBC’s Squawk Box this morning talking about presidential campaign rhetoric versus reality on issues like NAFTA, labor standards, and exports. Video here.
He raises one tax issue that doesn’t get talked about enough, repatriation. Engler:
One of the things that Congress could do that would really help is to knock out some of these antiquated laws such as repatriation of foreign earnings. More and more companies today have half or more of their earnings overseas — you have them on the show all the time — and to bring that money back to the United States, they’ve got to subject it to the highest corporate tax rate in the world.
Pretty good lineup this morning: Former National Economic Council Director Larry Lindsey, former Treasury Secretary John Snow, and James Lockhart, director of the Office of Federal Housing Enterprise Oversight (OFHEO).
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