Thomas Donohue
By David T. Cook
US Chamber of Commerce president Thomas Donohue was Friday's guest. Here are excerpts from his remarks:
On how the Sarbanes-Oxley corporate-governance law is being enforced:
"My fundamental worry is what has happened to take away ... the due process for officers, for directors, and for companies. We have stepped over the bounds a bit, and we ought to pull it back."
On the outlook for repeal of the estate tax:
"I am for the permanent elimination of the death tax. When it is finally said and done, [there] will be a significant increase in the cap [but] a reduction in the rate. It is very hard to make a case that people of significant wealth should be able to totally duck the death tax."
On the outlook for Social Security reform:
"We are going to have a bill. I would hope that it might get done this [year. But it] might go to the next year."
On his message for the leaders of China:
"They should really worry when the American people ... come to the point that they think the Chinese are cheating. Because if that happens, Congress is ... going to act in ways that don't have to at all be rational."
On US competitiveness in the global economy:
"Money goes where it is welcomed, where it can be profitable, and where it is safe. When we make so many ... rules and so many impediments that it is easier to go somewhere else - when we don't develop the skilled people we need - we are telling ourselves fairy tales.... We better get real."
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