Inflation Nation, Billionaire Tax Loopholes & Corporate Diversity

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 11 June 2021

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

From Wall Street to Main Street to Washington, everyone is talking about inflation, which is having a real-life impact on all of our wallets. CNBC’s Kristina Partsinevelos reports on the increasing cost of daily life. Meanwhile, the billionaires in the ProPublica report, on the shocking low taxes paid by the wealthiest individuals, didn’t use complicated strategies to shrink their tax bills. For the most part, they used plain, vanilla deductions. CNBC’s Robert Frank discusses why any attempt to reform the system won’t be easy. Plus, It’s been a year since corporate America pledged to focus on diversity and make institutional changes. A recent analysis shows some progress is being made in boardrooms, though the level of Black directors on corporate boards remains low. Sherrilyn Ifill, president and director-counsel of the NAACP Legal Defense and Educational Fund, discussed what she would like to see from corporate America when it comes to speaking out about diversity, equity and inclusion. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod.
0:05.0	I'm the NBC producer Katie Kramer today on our podcast.
0:09.0	Inflation Nation, the psychology of rising prices, when basically everything you need to buy is more expensive.
0:16.0	And the T-word, lots and lots of the T-word.
0:18.0	Are you in the transitory camp?
0:20.0	The transitory doesn't mean a month or two.
0:22.0	Oh, for sure.
0:23.0	Tax loopholes of the ultra-rich is the only way to fix a broken billionaire system,
0:28.0	a wealth tax, see NBC's Robert Frank.
0:31.0	The provisions that allow Jeff Bazel, Ce Elon Musk, Warren Buffett, and others to pay zero income
0:36.0	taxes in certain years are actually used by millions of other Americans.
0:41.1	And progress on racial diversity in corporate boardrooms and corporate goals,
0:45.3	Cheryl and Eiffel of the NAACP Legal Defense Fund. This is now a mainstreamed
0:50.8	conversation about corporate responsibility when our democracy is in crisis.
0:55.6	It's Friday, June 11, 2021. Squawk Pod begins right now.
1:00.5	Stand Becky by in three, two, one, Q3.
1:05.0	Good morning.
1:06.0	Welcome to Squack Box here on C.
1:08.0	I'm Becky Quick, along with Andrew Ross Sorkin, Joe is out today.
1:11.7	Let's take a look at the USA. We start today with Inflowers. working.
1:13.0	We start today with inflation, and it's showing up in price tags.
	...

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