Thursday, June 04, 2009

Microsoft to Move Jobs Overseas If Obama Gets Tax Wish

I’m glad that Ballmer is speaking up.  Most business leaders are thinking the same thing, but are afraid to speak up. 

June 3 (Bloomberg)—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.”

Obama on May 4 proposed outlawing or restricting about $190 billion in tax breaks for offshore companies over the next decade. Such business groups as the National Foreign Trade Council, the U.S. Chamber of Commerce and the Business Roundtable have denounced the proposed overhaul.

Hat tip Charlie Sykes. 

It seems that one of Newton’s laws may apply here…

(5) Comments
Posted by Owen at 1752 hrs
Economy + Politics + Politics - General

  1. You’d think that a man who’s president of the united states would get some people who have qualifications in economics.  Instead I think he just has political idealogue’s as advisors.

    Businesses and people with capital can just move it.  Capital is mobile.  People are not.  Try to screw big business and you are only going to hurt the working class.

    Get a clue Obama.

    Posted by .(JavaScript must be enabled to view this email address) on June 04, 2009 at 2308 hrs


  2. A tax in motion stays in motion unless raised by an outside force?

    Posted by .(JavaScript must be enabled to view this email address) on June 05, 2009 at 0855 hrs


  3. Every tax increase has an equal and opposite decrease on the economy.

    Posted by .(JavaScript must be enabled to view this email address) on June 05, 2009 at 1036 hrs


  4. What is to stop them from moving out anyway?  Wisconsin taxpayers should be held hostage by companies who threaten to leave when most of them already outsource?  When corporations like Microsoft don’t pay their fair share, it shifts to the individual taxpayer and becomes unsustainable.

    Posted by .(JavaScript must be enabled to view this email address) on June 05, 2009 at 2256 hrs


  5. Tina, your understanding of economics is woefully inept.

    Posted by .(JavaScript must be enabled to view this email address) on June 06, 2009 at 0044 hrs


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