Disney CEO: U.S. Corporate Taxes Are 'Too High,' Sanders Does Not Understand Business

Walt Disney Co DIS’s CEO Bob Iger recently appeared on CNN Money on Thursday, discussing corporate tax rates in the U.S. The manager assured that corporate tax rates in the U.S. are among the highest in the world, making the country's tax system "ridiculously complex," and even "anti-competitive."

"It doesn't mean that a company shouldn't pay taxes, but I think the structure is off,” Iger stated. “I think there are too many loopholes that need to get closed… The tax rate should be lowered, and the loopholes should be closed," he added, without actually explaining how he would actually do that in in charge of such a task.

Some time ago, Bernie Sanders accused Disney of exploiting workers and paying salaries below the living wage. In a Facebook Inc FB post, Iger responded: “We created 11,000 new jobs at Disneyland in the past decade, and our company has created 18,000 in the U.S. in the last five years. How many jobs have you created? What have you contributed to the U.S. economy?”

When asked about the issue, Disney’s Chief Executive answered that his response was “quick and very much to the point,” adding that Sanders’ comments showed a poor understanding and appreciation of business. “Business drives our economy,” Iger assured, “it creates jobs, it’s positive for the United States and for the world.”

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.