An Innovation-Oriented Economy? Let’s Tax Them to Death, First.
posted at 3:18 am on June 5, 2009 by coldwarrior
When President Obama heralds his desire to build an innovation-oriented economy, you’d think that he’d try to make innovation easier. But, apparently not. First it was those evil big oil companies, then those terrible banks, and then the car companies, all labeled in various ways enemies of the people.
Now, Microsoft is under the gun…
Bloomberg reports that Microsoft will be sending more jobs offshore if Obama is successful in going after American companies who, operating under the law, are using Congressional mandated tax codes to lower their overall corporate taxes.
Microsoft Chief Executive Officer, Steven Ballmer, said the world’s largest software company would move some employees offshore if Congress enacts President Obama’s plans to impose higher taxes on U.S. companies’ foreign profits.
John Thompson of Symantec, the Cupertino, California-based maker of Norton anti-virus software and similar tools, said software companies are frustrated by being called tax cheats and compared with companies that moved their headquarters to low-tax countries such as Bermuda.
Says Thompson, “It is a little bit ironic that most of our most significant trading partners and partners globally have taken the tack that they’ll reduce corporate tax rates to stimulate economic growth and not raise corporate tax rates.”
If the big players are already making plans to move offshore, the smaller players will be right behind them.
At what point will those Americans who actively supported Obama, no, not those millions of brainless minions, but those mainstream entrepreneurs finally come to their senses that their voting for Obama has enabled the most repressive anti-business government since before the Great Depression to rule unfettered from Washington, seizing control of American companies, setting wages and compensation for private Americans, and taxing anything that hasn’t already been taxed to an even greater extent.
In a climate such as this, who is going to risk private capital for “innovation” let alone keeping jobs here in the United States?
If the most successful new economy in decades (the Chinese) realize this, after their own long history of failed socialism, why is Obama being given carte blanche to re-invent the wheel by installing socialism in America under a different name…you know…Hope and Change?