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Squawk Pod
The Harris “Opportunity Agenda” for Black Men 10/15/24
Oct 15, 2024
Joseph Wolk, CFO of Johnson & Johnson, shares insights on the company’s impressive third-quarter earnings and discusses the implications of the corporate tax rate as the 2024 election approaches. Charles Phillips, co-founder of Recognize and advisor to Vice President Harris, elaborates on the new economic plan aimed at creating opportunities for Black men. The conversation also touches on the intersection of corporate strategies and governmental policies, highlighting the importance of equitable economic growth and the challenges faced by the Black community.
39:11
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Quick takeaways
- Vice President Harris's economic plan aims to address critical issues for Black men, like housing and job creation, amidst declining support.
- CFO Joseph Wolk emphasizes the importance of maintaining the corporate tax rate at 21% to encourage domestic investment and job growth.
Deep dives
Impact of Corporate Tax Rates on Economy
The discussion highlights the implications of corporate tax rates, particularly focusing on proposals from Vice President Kamala Harris and the responses from corporate leaders. Harris suggests a potential hike to 28%, while CFO Joe Wolk of Johnson & Johnson calls the current 21% rate a fair middle ground that encourages investment in the U.S. Wolk emphasizes that maintaining the tax rate is critical for business growth and job creation, as evidenced by the addition of 6,000 jobs since the tax reform. The conversation reflects a broader concern that increasing taxes could deter companies from investing domestically, thereby impacting overall economic growth.
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