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Thread: Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

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    Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

    President Obama’s proposal to change the American corporate tax system is winning few fans in India, where some say it is aimed at curbing the country’s outsourcing industry.
    Perhaps that is because Mr. Obama specifically struck out at the epicenter of Indian outsourcing.
    The president vowed Monday to overhaul a tax code that allowed companies to pay less tax, as he put it, to “create a job in Bangalore, India, than if you create one in Buffalo, New York.” One element to that change could be the elimination of a deduction for American companies when they invest in subsidiaries outside the United States.
    http://www.nytimes.com/2009/05/06/bu...06tax.html?hpw

    Let's see how the Right will spin this....higher taxes? socialism? Obama is making a concrete step to return jobs to America, and I can't wait to read why the Right is against it.

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    Re: Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

    Quote Originally Posted by WillRockwell View Post
    http://www.nytimes.com/2009/05/06/bu...06tax.html?hpw

    Let's see how the Right will spin this....higher taxes? socialism? Obama is making a concrete step to return jobs to America, and I can't wait to read why the Right is against it.
    It is amusing that you think this is somehow going to return jobs to America. There is only ONE outcome from this kind of desperate grasp for revenues to pay for an unprecedented and almost criminally negligent $1.8 trillion deficit; fewer jobs for everyone, higher taxes for everyone, fewer corporations doing business in America and a flight of capital which is the engine of economic growth.

    But not to worry, by the time Obama is done, we will all have GOVERMENT jobs.

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    Re: Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

    Besides taxes, over the top regulations are another reason corporations send jobs overseas. Why isn't Obama looking at these as well? This will do nothing
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    Re: Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

    Because that would reduce government power. We can't have that.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

    Quote Originally Posted by WillRockwell View Post
    http://www.nytimes.com/2009/05/06/bu...06tax.html?hpw

    Let's see how the Right will spin this....higher taxes? socialism? Obama is making a concrete step to return jobs to America, and I can't wait to read why the Right is against it.
    Companies that invest in outsourcing subsidiaries will simply ship the home office overseas.

    Not only does this not create jobs, it kills the engines of job creation--businesses.

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    Re: Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

    Quote Originally Posted by celticlord View Post
    Companies that invest in outsourcing subsidiaries will simply ship the home office overseas.

    Not only does this not create jobs, it kills the engines of job creation--businesses.
    Don't question the community organizer, or you will be smitten.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

    Quote Originally Posted by American View Post
    Don't question the community organizer, or you will be smitten.
    Community organizer my ass.....no community that has ever had to tolerate the stench of his presence was ever improved except by his leaving it.

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    Re: Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

    Quote Originally Posted by celticlord View Post
    Community organizer my ass.....no community that has ever had to tolerate the stench of his presence was ever improved except by his leaving it.
    I think the residents on the south side of Chicago would take issue with that statement. From all reports, Obama worked hard and improved the lives of many people, and I can't fathom how this obvious hatred of yours developed.

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    Re: Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

    Quote Originally Posted by WillRockwell View Post
    I think the residents on the south side of Chicago would take issue with that statement. From all reports, Obama worked hard and improved the lives of many people, and I can't fathom how this obvious hatred of yours developed.
    Those would be the same residents whose substandard housing Dear Leader and his pal Tony Rezko built with tax dollars, then abandoned them in such horrible shape that the housing developments had to be demolished?

    From all reports, Dear Leader has stepped on the residents of the South Side the way most folk step on stairs. He is nothing more than a useless parasite, an artless and unaccomplished boor with a mellifluous voice who occasionally manages to pull himself out of his perpetual slouch to stand upright and look good.

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    Re: Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry

    Quote Originally Posted by chevydriver1123 View Post
    Besides taxes, over the top regulations are another reason corporations send jobs overseas. Why isn't Obama looking at these as well? This will do nothing
    Exactly.

    I find it funny that some people who will harp on Bush for dropping taxes but not doing the other portions of it to make it work are the same type that will champion Obama doing this.

    Yes, I think redoing our tax code in regards to sending jobs overseas is a useful thing...essentially perhaps removing some loopholes to get tax breaks for sending stuff overseas but giving LOWER taxes as incentives for keeping a certain % of a large businesses operations IN the United states.

    HOWEVER

    Much like Bush's tax cuts were not as useful and perhaps harmful without paired with lowered spending, "fixing" the tax code while keeping in place the governmental regulations that caused the issue in the first place is also going to not be useful and potentially harmful.

    Companies didn't just wake up and say "Send them all overseas, that'll cost those evil Americans".

    Additionally, even with "tax loopholes" the notion of trying to create an overseas outpost of your operation when you previously didn't have it isn't likely cost effective in and of itself, nor the customer service hit you get for oding so.

    HOWEVER

    When you couple the potential money saved simply from taxes with the potential money saved due to the vast amount of regulations you have on business, things change. Suddenly there are more reasons to do the move than not to do it.

    Most likely, conservatives won't be fooled by this. The left creates government regulation. The government regulations forces a the private sector to shift because suddenly the free market is forcibly changed by government. The government then dislikes the changes the free market has done and rather than point to the thing THEY DID that caused the change they claim that the free market failed.

    Its like a sick person having a doctor give him some kind of anti-biotic that directly is the cause for him getting even more sick and the doctor going "See, the human immune system has failed this man, give him MORE anti-biotics!" instead of going "Hmm, I gave him a drug and it caused him to get worse, its the drugs fault".

    All this is a ploy to make the American public THINK that Obama's goal is to bring jobs back to America when in reality its an end around attempt to go "You all didn't do business like we, the big mommy government said, so we're going to punish you for finding a legal way around that to either take more of your money or force you to do it how we want you to do it."

    God forbid they actually loosen regulations along with this. That'd be admitting government was wrong...and that can't be because Democrats are infallable! No no no, as Obama says, people must sacrifice during important times....expect for himself, or democrats, or governments, they get to sacrifice nothing. But business, oh boy oh boy, come on over here because we need a pound of flesh and frankly we'd rather take it from you.

    But no one should be surprised by this; Obama was your typical leftist from the start and pretty much told us so. The only thing is people either were to mesmorized by his pretty words to really realize, fully realized and reveled in it, or fully realized and reveled in it secretly while trying to paint themselves and him as "moderate" or "centrist" because they know they can't bitch about "extremes" on the right when they themselves are extreme on the left.

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