FedEx’s Smith Sees Slow-Growth Economy, Not Another Recession - Businessweek
“Our tax policy, our trade policy, our energy policy, and our regulatory policy are almost optimally designed to impede growth,” said Smith, who was interviewed by GE CEO Jeffrey Immelt as part of the event. Smith called some of the regulations “well-intentioned regulations that are job killers, that impede investment and until we address those things it’s going to be very difficult to get back to a reasonable growth rate.”
Smith said he favors a so-called territorial tax system, in which businesses are taxed only on domestically generated income. Smith would also tie an investment tax credit to any repatriation of overseas funds to help boost growth.
“Our tax policy, our trade policy, our energy policy, and our regulatory policy are almost optimally designed to impede growth,” said Smith, who was interviewed by GE CEO Jeffrey Immelt as part of the event. Smith called some of the regulations “well-intentioned regulations that are job killers, that impede investment and until we address those things it’s going to be very difficult to get back to a reasonable growth rate.”
Smith said he favors a so-called territorial tax system, in which businesses are taxed only on domestically generated income. Smith would also tie an investment tax credit to any repatriation of overseas funds to help boost growth.
