Griffin says U.S. ‘doesn’t need lowest tax rate in the world’
June 7th, 2017
Chicago billionaire Ken Griffin has taken a swipe at the Trump administration’s plan for a corporate tax rate of just 15 percent.
“I cringe when I hear 15 percent,” Griffin said at a conference reported by the Financial Times earlier today. “We do not need to have the lowest tax rate in the world, but we should have a more competitive tax rate in America.”
Griffin, the founder and CEO of Citadel hedge-fund company, spoke at the Sandler O’Neill & Partners global exchange and brokerage conference in New York.
He is quoted saying he favors a tax rate in the “mid- to upper-20s.”
Last month, the president released a tax-reform proposals that include lower the tax rate for all businesses to 15 percent. The goal, according to the administration, is to reinvigorate the economy.
It’s not the first time Griffin has gone public with his thoughts on how business and government should be run.
Griffin took on the banking industry a few weeks ago, telling attendees at the Milken Institute’s Global Conference in Los Angeles, “My fantasy is to break up the big banks.”