they keep more money in the pocket not going to a tax preparer. unless you have a completely flat tax, as long as tax specialists, as long as corporations have tax departments, then it is always going to benefit the rich and the more sophisticated. it s going to benefit us all. and the growth component of having those factories be in a stronger position to invest capital in their equipment, get the immediate expensing to the cash goes back to the businesses. that to me is small business america at its best when they are investing in their people and businesses. why is it you believe those companies are going to invest in people? any major investment in the last eight years has been in automation. it s not been in human capital. i will tell you, being a former small business owner, my employees were part of my family. if we grew together, they had more employees in that office and better opportunities for themselves and their children. we ve educated a lot of folks in regards to
governments like a business, to consolidate, to share services, to cut duplication, and ultimately to reduce property taxes. don t think it s possible? let s look at what happened last year in princeton. now, princeton borough, princeton township talked about this for a long time, but finally, they consolidated into a single government. no two tax departments, no two police forces answering the phone. the savings in one year, $3 million. that s on a budget of $64 million. that s a 4.7% savings on their budget. and the citizens of princeton got this in return. more services, despite a smaller budget. and imagine this, a reduction in their municipal taxes. now, that s not just an opinion. the local unit alignment reorganization and consolidation
that raises a red flag to tax experts to say is that a fair market price? and then as david noted, they don t get paid u.s. taxes are not paid on that for years and years because they don t bring the money back home. what i learned last week listening to the hearings, listening to fire-breathing senators angry about a tax code that they created, what it cements in my opinion is executives in charge of tax departments are probably the most important people in business today, do you agree? they re very, very important. they re very well paid. g.e. has, it s estimated, more than 800 tax lawyers. this is a huge waste of human capital we should be putting to other things, but what we sho t shouldn t do is just cut taxeracy. we need to have real fundamental reform. we should have single company
are not paid on that for years with and years and years because they don t bring the money back home. david, what this all tells me, what i learn this had week listening to the hearings and listening to fire breathing senators, angry about a tax code that they created, what it cements in my opinion is executive there is charge of tax departments at major corporations are probably the most important people in business today. do you agree? they re certainly very, very important. they are very well paid. ge has it is estimated more than 800 tax lawyers. this is a huge waste of human capital we should be putting to other things but what we shouldn t do is just cut tax rates because if we just cut tax rates, everything that s wrong will stay in place. we need to have real fundamental reform. we should have, i believe, something called signal company accounting that would end the practice jean described by the way much better than any of the newspapers i read this morning and we should e
murray is up to a jury. corporations raking in millions in profits and not paying taxes. sometimes the government is paying them. that s triggering outrage on this american morning . good morning, everyone. it is friday, my very favorite day of the week besides saturday and sunday. happy friday. it s november 4th. welcome to american morning . i m christine romans. ali is on assignment. he s still in caane. herman cain still defiant this morning. the republican front-runner pushing back against the sexual harassment swirling around him. cain says that he will not let it derail his campaign for president. also developing this morning we may hear from one of cain s accusers today, her attorney hopes to release a statement which can rebut cain s contention that any allegations made against him were groundless. joe johns. following all the twists and turns of this case that continues to twist and turn, joe. reporter: that s for sure. if it happens, best case scenario