http://www.nytimes.com/2009/05/06/bu...06tax.html?hpwPresident 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.
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.