McDonald's chief: Curb spending and cut taxes

America must cut taxes and reduce government spending in order to kick-start an economic recovery, Jim Skinner, the chief executive of McDonald's, has warned.
By Jeff Randall, Illinois
The Telegraph
Nov. 07, 2011

"The question is, how can we get the ox out of the ditch?" Mr Skinner said. "In order to create jobs in America, you're going to have to cut taxes… particularly in the business community.

"We pay some of the highest [corporate] taxes around the world. There needs to be some levelling."

Asked about federal borrowing, he said: "It's not a good story… the government has to spend less. We have to grow the economy, grow GDP… and you have to be able to do it in an organic way and not through borrowings and increasing debt."

McDonald's army of blue-collar customers need more clarity on core issues, such as healthcare, he said. "Until all of that is all defined and certain… we're going to continue to have a fragile environment for consumer confidence."

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