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  • Microsoft: Obama Tax Hikes Will Cost US Jobs

    Bloomber reports:

    Microsoft Corp. Chief Executive Officer Steven Ballmer said the world’s largest software company would move some employees offshore if Congress enacts President Barack Obama’s plans to impose higher taxes on U.S. companies’ foreign profits.

    “It makes U.S. jobs more expensive,” Ballmer said in an interview. “We’re better off taking lots of people and moving them out of the U.S. as opposed to keeping them inside the U.S.”

    When Obama first unveiled his new tax plan last month, Heritage fellows JD Foster and Curits Dubay wrote:

    President Obama and Treasury Secretary Geithner unveiled a tax reform plan yesterday that, if enacted, would seriously damage the international competitiveness of U.S. businesses. The plan would:

    * Limit the ability of American businesses to defer U.S. tax on their foreign income and
    * Reduce the credit for foreign taxes paid.

    Both provisions would substantially raise taxes on U.S. businesses operating globally. Although intended to keep more jobs in the U.S., these proposals would cost Americans jobs and wages.

    Read their whole paper here.

    Posted in Ongoing Priorities [slideshow_deploy]

    10 Responses to Microsoft: Obama Tax Hikes Will Cost US Jobs

    1. Dennis Wall Hampto says:

      PLEASE you guys look at the FAIRTAX. It is evident that you have not. The FAIRTAX fixes most of our major financial problems. Without THE FAIRTAX we are headed for the 2nd GREAT DEPRESSION. People are going to spend as always no matter what makes up the price. Our present unconstitutional Tax system started as a flat tax.

    2. Pingback: All About The World » Blog Archive » Microsfoft: Obama Tax Hikes Will Cost US Jobs » The Foundry

    3. Pingback: Jason’s Blog » Microsoft: Obama Tax Hikes Will Cost US Jobs

    4. Normca says:

      The way the Obama is going, MS should just close their US operations and move to a business friendly country that is not out to destroy successful corporations. I'll bet that Mr. Ballmer and Company donated heavily to the candidate Obama [with a blind eye].

    5. Wayne Harper,Spirit says:

      I have read the fairtax the idea is good but the logic keeps the Federal Govt with the ability to continue its cancerous growth into our private lives and the continued erosion of our personal freedoms. It's time for a flat tax on personal income above $25,000 per person. NO Corporate taxes on First 5 million and no taxes on the first $100,000 of gross revenue on companies with less that 5 employees. WE NEED TO STOP THE GOVT AND THE BEST WAY TO DO THAT IS TO CUT OFF THE FUNDS. But no idea how to turn off the money presses.

    6. JAB, SPRING LAKE, MI says:

      Those of you who are older will remember those old musical movies where a group of youngsters decide to put on a musical in the garage. They then proceed to produce an extravaganza that is spectacular. This new bunch of politicians in Washington remind me of those movies.

      A bunch of young know nothings with no business or other experience, some not even out of school, where they are taking lessons in fascist philosophy, putting on a show. It is extravagantly spectacular, but it "ain't" enjoyably entertaining. It is more like a horror show.

    7. Jerry from Chicago says:

      To Heritage fellows Foster and DuBay, you are correct in your analysis of the Obama/Geithner tax plan. But you seem surprised at this.

      This is their plan. The incredible deficit spending that Mr. Obama has already enbarked upon and his intent to take on national health care means only one thing — more taxes for everyone, including all businesses. When American busines shrink to insignificance, laying off the vast majority of their employees and no one has any money left to pay for taxes or anything else, Mr. Obama will have exactly what they want, a nation of people totally dependent on him and his government. Yes, his government. It sure as hell be ours anymore.

    8. Lynn B. DeSpain says:

      All realize, and have for years, that a 'Flat Tax or a' Sales Tax' for Federal Revenue would worked perfectly.

      So does the Legislature! But what else would they have to do? How would they even come close to justifying their salaries and expenses?

      Hozro

    9. Sharp, General Deliv says:

      Obama, and this absurd administration is nothing more than a time delayed bomb, manufactured by the enemies of reason and light, now placed deep in the heartland of our once free nation. Tick, tick, tick.

    10. Whicket Williams Kin says:

      If obama promises NOT to do something, you can bet that he will do it in a round about fashion while the media are busy spinning it. It is happening right this minute, as his slaves are lying about his micro management of the two car companys, and his blatant usurping of our laws.

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