...with brief, occasional, italicized and sometimes gratuitous commentary…
• The Wall Street Journal has a story about how McCormick & Co.'s CEO, Lawrence Kurzius, has some objections to suggestions that the nation needs to adopt higher tariffs or a proposed “border tax” on imported goods.
The story notes that "McCormick sells herbs and spices such as garlic salt and black pepper and must import a large number of raw materials because they grow in the tropics near the equator. This limits changes the company could enact in response to a proposed border tax, Mr. Kurzius said."
“Regardless of what our [U.S.] tax policy is, we’re not going to be able to move the equator into the United States,” Kurzius said, adding, "Historically, agricultural commodities that can’t be grown in the United States have enjoyed a tax preferential treatment, and so we would hope that that would continue forward."
• The Food Marketing Institute (FMI) issued a statement yesterday in support of the Death Tax Repeal Act of 2017, introduced by Sen. John Thune (R-SD) and Rep. Kristi Noem (R-SD) that would repeal the death tax once and for all.
”The death tax represents the most pernicious form of double taxation in the U.S. tax code – one that hits survivors again in their time of grief. It threatens the very existence of many family-owned grocers.” said Jennifer Hatcher, chief public policy officer & senior vice president of government relations. “The death tax forces business owners to spend any profits they make on hiring lawyers to design a plan to keep the business running in the event of their untimely death, rather than expanding their businesses and creating new jobs. FMI fully supports the legislation introduced and looks forward to working with Congress to see that it is passed.”
• The Wall Street Journal has a story about how McCormick & Co.'s CEO, Lawrence Kurzius, has some objections to suggestions that the nation needs to adopt higher tariffs or a proposed “border tax” on imported goods.
The story notes that "McCormick sells herbs and spices such as garlic salt and black pepper and must import a large number of raw materials because they grow in the tropics near the equator. This limits changes the company could enact in response to a proposed border tax, Mr. Kurzius said."
“Regardless of what our [U.S.] tax policy is, we’re not going to be able to move the equator into the United States,” Kurzius said, adding, "Historically, agricultural commodities that can’t be grown in the United States have enjoyed a tax preferential treatment, and so we would hope that that would continue forward."
• The Food Marketing Institute (FMI) issued a statement yesterday in support of the Death Tax Repeal Act of 2017, introduced by Sen. John Thune (R-SD) and Rep. Kristi Noem (R-SD) that would repeal the death tax once and for all.
”The death tax represents the most pernicious form of double taxation in the U.S. tax code – one that hits survivors again in their time of grief. It threatens the very existence of many family-owned grocers.” said Jennifer Hatcher, chief public policy officer & senior vice president of government relations. “The death tax forces business owners to spend any profits they make on hiring lawyers to design a plan to keep the business running in the event of their untimely death, rather than expanding their businesses and creating new jobs. FMI fully supports the legislation introduced and looks forward to working with Congress to see that it is passed.”
- KC's View:
