David Paul Morris | Bloomberg | Getty Images
Kenneth Griffin, founder as well as chief executive officer of Citadel LLC
Citadel’s Ken Griffin said Monday in which Republican efforts to cut back taxes may be going a bit too far.
“You might usually reserve tax reform of in which nature for right inside the midst of a recession,” the billionaire said in an interview with CNBC’s Leslie Picker. “Do we need to cut taxes as much as we are? Probably not. Do we need to reform taxes, simply taxes, as well as keep America competitive. Absolutely.”
Griffin’s hedge fund manages over $27 billion, while the CEO himself incorporates a net worth of $8.6 billion, according to Forbes.
“If we look at the OECD means, which are inside the mid-20s, I don’t understand why we’re not closer to in which number. I might have thought we might have landed in which somewhere around 25 percent for our corporate rate, not 20 [percent]. however not probably not worth splitting hairs over.”
The GOP has been hard at work to pass tax reform before year’s end, hoping to give President Donald Trump his first major legislative win. The House passed its own type two weeks ago. The Senate is actually anticipated to vote on its type in which week.
Importantly, the House bill might permanently lower the corporate tax rate to 20 percent via 35 percent, while the Senate’s type seeks to abolish the Obamacare individual mandate. Though not unusual for politicians to debate the merits of a tax cut, some economists have been confused over the timing of the proposed relief.
“To the extent in which in which represents fiscal stimulus, in which is actually a late-in-the-business-cycle-move,” Griffin said. “in which might be contrary to what you might traditionally do via an economics perspective.”