McDonald's Corporation President and CEO Jim Skinner says for things to turn around in the American economy, spending and taxes must be curbed, especially towards business. Jeff Randall writes in the Telegraph on his upcoming interview with Skinner on Sky News Jeff Randall Live:
"'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 leveling.'
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 third-quarter profit gained 8.6 percent, but Skinner has said that the economic environment is still fragile. "We are officially out of the recession, but it hardly feels that way," said Skinner on October 21 in a call with analysts. “Consumers everywhere continue to be cautious and hesitant to spend.”
Skinner tells Randall in regards to healthcare reform;"Until all of that is all defined and certain… we're going to continue to have a fragile environment for consumer confidence."
McDonald's has more than 500,000 staff on its domestic payroll, and has just delivered 100 consecutive months of same-store sales growth.