Fred Smith, FedEx Chairman and CEO, is saying that the idea that tax hikes on the wealthiest of Americans will kill jobs is simply “mythology” on Tuesday, and he is not alone.
On Monday, David Langstaff, CEO of TASC, told a reporter for Politico that tax rates need to go up.
“In the near term, [income tax rates] need to go up some,” Langstaff said. “This is a fairness issue — there needs to be recognition that we’re not collecting enough revenue. In the last decade we’ve fought two wars without raising taxes. So I think it does need to go up.”
David Hess, head of Pratt & Whitney, believes personal income tax rates should be on the table; Dawne Hickton, CEO of RTI, said he would back a rate hike if it led to a deal.
Other executives have endorsed higher tax rates following a meeting with President Obama last week at the white house.
AT&T CEO Randall Stephenson said in a statement that a deal “will require a compromise involving an increase in both tax rates and revenue.”
Goldman Sachs Chief Executive Lloyd Blankfein told CNN after the meeting that “if we had to lift up the marginal rate, I would do that.”
“There needs to be some revenue element to this, and [Obama] started with rates,” said Joe Echeverria, CEO of Deloitte LLP. “And he started with rates on what we would define [as] the upper two percent … that we have to pay our fair share. And I think everybody was in agreement with that notion.”
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