Eli Lilly CEO Says 'Time Is Now' for Corporate Tax Reform

The video discusses the need for tax reform in the US, focusing on the corporate tax system. It highlights the importance of moving to a territorial tax system to eliminate double taxation on foreign earnings, aligning with global standards. The speaker emphasizes that tax policy significantly impacts economic growth and investment, advocating for an overhaul to improve the US economy.

What is the main reason the speaker believes tax reform should happen this year?

• To increase the country's growth rate

• To reduce government spending

• To improve healthcare systems

• To align with European tax policies

What does the speaker suggest is necessary for American companies to invest and grow?

• Higher corporate tax rates

• Increased government regulations

• More foreign partnerships

• A territorial tax system

What is a key feature of the territorial tax system discussed?

• It increases taxes on foreign earnings

• It eliminates double taxation on foreign earnings

• It provides tax breaks for small businesses

• It taxes only domestic earnings

Why does the speaker believe the US should adopt a territorial tax system?

• To increase domestic taxes

• To reduce foreign investments

• To follow the new global standard

• To align with Asian tax policies

Which of the following is NOT a characteristic of the current US tax system according to the speaker?

• It is considered outdated compared to other systems

• It provides tax breaks for foreign investments

• It is the only major economy with such a system

• It taxes both domestic and foreign earnings