Even though President Obama has taken steps to combat corporate tax inversions, well-known entrepreneur who also worked with the government on shaping policy for the Internet, Steve Case, told the FOX Business Network’s Neil Cavuto, some of these inversion issues are “baked in."
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“I think we are seeing the globalization of capital, now we are seeing the globalization of entrepreneurship and need to figure out what the right rules of the road are globally…. The real answer is we need to fix our tax code and make it something that’s simpler and more consistent.”
The former AOL co-founder and CEO, which was recently acquired by Verizon (NYSE:VZ), also explained how vital it is for startups to remain in the U.S.
“I think the bias though, whenever you look at that tax code is how do you create more incentive for more investment in risky startups because they are the ones that really do create the jobs. They are the ones that really drive the growth,” he said.
In his new book, ‘The Third Wave,’ he outlines the importance of remaining innovative a nation.
“I have a whole chapter on the disruption of America and how we need to reboot our own government and take a fresh look at a lot of policies that we can remain the most innovative entrepreneurial nation. I think its within our grasp but it’s not guaranteed. People around the world have figured out it’s sort of the secret sauce that’s kind of powered the American story for the last two centuries has been the fact that we’ve been this pioneering innovative entrepreneurial nation.”