I've been paying a lot of money in state income taxes, and I've been happy to do it, but when this last thing happened, this 50 percent increase in the tax rate, it was just too much.

Ford's federal income tax rate was just 2.3 percent in 2009 even though it made $3 billion in profits.

In 2010 the U.S. will have a payroll tax rate increase, an estate tax increase, and income tax increases. There's also a tax increase coming in 2010 on carried interest. This rate will rise from its current level of 15 percent to 35 percent, and then it will rise again in 2011.

I think, in effect, in most of the European countries, the total marginal tax rate is over 50 percent; that's to say, add on other taxes like VAT to the income tax.

It will cannibalize, but the difference is you have a 50 percent tax rate and you have a slot parlor as opposed to a much lower tax rate in New Jersey and a full-blown casino resort. The level of amenities is going to be much less (in Pennsylvania).

High tax rates distort economic decision making, and our corporate income tax rate is one of the highest in the world.