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Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas

 
Anonymous Coward
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11/20/2012 07:54 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
financial terrorism send ballsack off to a little waterboarding vacation
Anonymous Coward
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11/20/2012 08:04 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
[link to www.dailytech.com]

"Microsoft isn't happy about a new tax on companies foreign profits

It takes an incredibly powerful company to threaten the U.S. government in hopes of impacting a significant decision, but that's precisely what Microsoft is doing. Microsoft CEO Steve Ballmer made headlines when he publicly attacked President Barack Obama's plan to cut tax breaks on U.S. companies' foreign profits, a plan which is currently awaiting Congressional approval.

Mr. Ballmer suggests that if the tax succeeds, Microsoft may begin a significant move out of the U.S., taking with it tax revenue and jobs. He states, "It makes U.S. jobs more expensive. 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."

The plan, proposed by President Obama on May 4, seeks to help raise tax revenue and balance the budget by rolling back $190B USD in tax breaks for offshore companies over the next decade. Microsoft is not the first to oppose the measure -- the National Foreign Trade Council, the U.S. Chamber of Commerce and the Business Roundtable are among the numerous others to voice their disapproval.

Previously, companies could defer paying corporate rates as high as 35 percent on most types of foreign profits, contingent that the company invests the money overseas. The idea was that foreign profits are not the domain of the U.S. President Obama disagrees, arguing that U.S. corporations' profits are U.S. earnings. He believes that by taxing foreign profits, companies will be more likely to invest in the U.S., rather than shelter their money overseas.

Thanks to the current provision Microsoft enjoyed a very low tax rate of only 26 percent in 2008 on its profits. A company report describes, "Our effective tax rates are less than the statutory tax rate due to foreign earnings taxed at lower rates."

Some, like Barry Bosworth, an economist in Washington at the Brookings Institution research center, accuse Microsoft and others of wrongdoing. He says the company has exploited the system, and expensive abuse that has cost our nation tax revenue and domestic investment. Indeed, Microsoft's shell game is a bit strange -- it typically develops products like Windows and then transfers the licenses for free to an Ireland subsidiary. This subsidiary then proceeds to sell them, free of U.S. taxes."
 Quoting: Cranky


**Good, I hope they move to Israel....
Anonymous Coward
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11/20/2012 08:08 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Expect to see more and more companies leaving the USA. Our corporate tax rates are the highest in the developed world
[link to en.wikipedia.org]

Then you add social security, workmen's comp, unemployment insurance, obamacrud, then heap all the regulations on top.

What you get is a dying economy.
BRIEF
Rebel with morals

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11/20/2012 08:11 AM

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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Barackside566478
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
Anonymous Coward
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11/20/2012 08:12 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
I like the "massive import tax" idea. Let small American startup companies grab the reigns and make REAL innovations for a change. Fuuuuck Microsloth.
 Quoting: Anonymous Coward 386744

You mean a trade tariff right? That would be the sane thing to do but the Communists are not going to rebuild America’s industry and so no new businesses will fill the void. Tariffs would have been just what the Doctor ordered combined with numerous small and midsized business loans to fill that vacuum.

We don't need another business to walk away.
 Quoting: Cranky




$$Didn't Hoover and Roosevelt try to put tarriff's on good's and made depression worse???
Terpsichore

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11/20/2012 08:13 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Obozo really has no clue....
 Quoting: Anonymous Coward 687755


Ok so he has "no clue" for trying to get the jobs back to the states? By taking away tax breaks for corps. who send jobs overseas? I say that Obama calls their bluff and then we all boycott MS for insisting or threatening to keep their currently outsourced job overseas. God you will stand on anyone's side no matter how inane their demands just to oppose our President. These corporate practices have imploded our pay scales here, created massive unemployment and brought these companies record breaking profits. FUCK MS! They have sold out the american people at every turn. Next the world! Again, FUCK MS!

MS is essentially saying if the admin does this they will send all jobs overseas, not just the 60% (maybe more)they sent overseas as of this time.

Last Edited by ArcanoExAngelos on 11/20/2012 08:24 AM
Anonymous Coward
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11/20/2012 08:15 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
So when people phone into Microsoft customer support they are actually talking to Paul(a guy with an indian accent) that lives in the US?
Wolverine

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11/20/2012 08:24 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
So when people phone into Microsoft customer support they are actually talking to Paul(a guy with an indian accent) that lives in the US?
 Quoting: Anonymous Coward 28132818


Refer to my signature. This is what Obama wants.
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.” Marcus Tullius Cicero

"You must submit to supreme suffering in order to discover the completion of joy."
- John "Calvin" Rambo
Anonymous Coward
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11/20/2012 08:29 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
[link to www.dailytech.com]

"Microsoft isn't happy about a new tax on companies foreign profits

It takes an incredibly powerful company to threaten the U.S. government in hopes of impacting a significant decision, but that's precisely what Microsoft is doing. Microsoft CEO Steve Ballmer made headlines when he publicly attacked President Barack Obama's plan to cut tax breaks on U.S. companies' foreign profits, a plan which is currently awaiting Congressional approval.

Mr. Ballmer suggests that if the tax succeeds, Microsoft may begin a significant move out of the U.S., taking with it tax revenue and jobs. He states, "It makes U.S. jobs more expensive. 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."

The plan, proposed by President Obama on May 4, seeks to help raise tax revenue and balance the budget by rolling back $190B USD in tax breaks for offshore companies over the next decade. Microsoft is not the first to oppose the measure -- the National Foreign Trade Council, the U.S. Chamber of Commerce and the Business Roundtable are among the numerous others to voice their disapproval.

Previously, companies could defer paying corporate rates as high as 35 percent on most types of foreign profits, contingent that the company invests the money overseas. The idea was that foreign profits are not the domain of the U.S. President Obama disagrees, arguing that U.S. corporations' profits are U.S. earnings. He believes that by taxing foreign profits, companies will be more likely to invest in the U.S., rather than shelter their money overseas.

Thanks to the current provision Microsoft enjoyed a very low tax rate of only 26 percent in 2008 on its profits. A company report describes, "Our effective tax rates are less than the statutory tax rate due to foreign earnings taxed at lower rates."

Some, like Barry Bosworth, an economist in Washington at the Brookings Institution research center, accuse Microsoft and others of wrongdoing. He says the company has exploited the system, and expensive abuse that has cost our nation tax revenue and domestic investment. Indeed, Microsoft's shell game is a bit strange -- it typically develops products like Windows and then transfers the licenses for free to an Ireland subsidiary. This subsidiary then proceeds to sell them, free of U.S. taxes."
 Quoting: Cranky

move to canada then asshole
Mulehound

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11/20/2012 08:30 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
I don't support any company that sends jobs overseas. Boycott Microshaft. Don't buy their crappy products anymore.
 Quoting: Anonymous Coward 24473407


Then tell Obama to fucking go back to school and learn how shit really works. Make it difficult to run a business and employ people in the US, then the business will go where they can run the business.
MSFTFAN
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11/20/2012 08:33 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
They already send all their jobs over sea.
Anonymous Coward
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11/20/2012 08:35 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
If I had a dollar for every reboot I'd have over 10 grand in my pocket.
SLaPPiE

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11/20/2012 08:49 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Dont let the door hit you in the ass.
Microsuck could not make a secure os in a million years.
Take the jobs, the fucking crap you call an os and bugger off.


Fuck xbox, a pc in disguise, fuck windows 8..a fucking joke.
I stopped buying thier crap years ago, you shoiuld all do the same.

Thanks to microsoft, every new pc comes with the virus they call an os. Get a fucking clue, and use linux.
Lets be honest, the internet runns on unix, the consumers run on windows fucking themselves cause they dont know better.

most people spend around 50 bucks annually for windows virus protection. this ought to convice people that the os is crap, and filled with open holes.
Anonymous Coward
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11/20/2012 08:50 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Remember that if Microsoft did not exist, none of us would be looking at this forum right now and the Internet would not be what it is today. Most people are not savvy enough to use Unix.

I work in IT and I like Microsoft for what they do. If a company deserve to make profit, it's them , they make the world run right now. Billions of devices use a Microsoft OS.

You would prefer to be stuck with shitty proprietary Apple products?
Americans should be proud to the max when thinking about Microsoft, stop being ignorant. Maybe they should move out of the US if you guys don't respect them enough.

If you seriously think you should penalize them with more taxes to pay for you wars, then they need to get out of the states.
Shelia Deville

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11/20/2012 08:54 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
I don't support any company that sends jobs overseas. Boycott Microshaft. Don't buy their crappy products anymore.
 Quoting: Anonymous Coward 24473407


Boycott all destructive businesses if possible.
Anonymous Coward
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11/20/2012 08:54 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
By the way , Microsoft gives us the best Anti-Virus that exist for free and it's called Security Essentials. Ignorance is rampant around here.
Anonymous Coward
User ID: 1484087
United States
11/20/2012 08:56 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Remember that if Microsoft did not exist, none of us would be looking at this forum right now and the Internet would not be what it is today. Most people are not savvy enough to use Unix.

I work in IT and I like Microsoft for what they do. If a company deserve to make profit, it's them , they make the world run right now. Billions of devices use a Microsoft OS.

You would prefer to be stuck with shitty proprietary Apple products?
Americans should be proud to the max when thinking about Microsoft, stop being ignorant. Maybe they should move out of the US if you guys don't respect them enough.

If you seriously think you should penalize them with more taxes to pay for you wars, then they need to get out of the states.
 Quoting: Anonymous Coward 16312313


Are you stupid, or just can't read? They've already been fucking over the U.S. with these shell games they play in order to avoid being taxed at the proper rate. All that the gov wants to do is tax them at an appropriate rate for what they're doing, and like a bitch, the Ballsack doesn't like it. I say fuck him. I would tax the SHIT out of all Microsoft products coming back to the U.S., so that not even Ballsack could afford them. Then what, bitch?!
Anonymous Coward
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11/20/2012 08:56 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
By the way , Microsoft gives us the best Anti-Virus that exist for free and it's called Security Essentials. Ignorance is rampant around here.
 Quoting: GLPisaddictive


Security Essentials is no good.
Anonymous Coward
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11/20/2012 09:08 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
If Microsoft told something like this to Putin in Russia, its company wouldn't survive a year. And all those CEOs will be sent to some distant colony to master a new skill as a seamstress.
Anonymous Coward
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11/20/2012 09:10 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
By the way , Microsoft gives us the best Anti-Virus that exist for free and it's called Security Essentials. Ignorance is rampant around here.
 Quoting: GLPisaddictive


Two errors. Not the best (not even good enough), not free (it appears to be free but of course its cost is indirectly included in the cost of Windows OS). But I agree on ignorance of anybody who is using words "best", "virus", "free", and "Microsoft".
Fork Spinner
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11/20/2012 09:15 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Look up H-1B visa. Microsoft is already "sending jobs overseas." They hire someone from another country, bring them here, pay them next to nothing, and then send them home again. Meanwhile American IT people are making donuts and coffee.
Anonymous Coward
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11/20/2012 09:27 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
more to come


Atlas is starting to shrug
Anonymous Coward
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11/20/2012 09:27 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Obozo really has no clue....
 Quoting: Anonymous Coward 687755



cool the solution is then to whack a massive import levy on the products of companies that willfully outsource to avoid paying due taxes.
...
 Quoting: Anonymous Coward 696887


Yes, this is appropriate for a product developed here, then transferred "free" to an Ireland subsidiary.

Tariffs are decided one at a time, and I don't know of any WTO rule it would violate, so ... tax Windows!
Sickandtired
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11/20/2012 09:28 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Obozo really has no clue....
 Quoting: Anonymous Coward 687755


Ok so he has "no clue" for trying to get the jobs back to the states? By taking away tax breaks for corps. who send jobs overseas? I say that Obama calls their bluff and then we all boycott MS for insisting or threatening to keep their currently outsourced job overseas. God you will stand on anyone's side no matter how inane their demands just to oppose our President. These corporate practices have imploded our pay scales here, created massive unemployment and brought these companies record breaking profits. FUCK MS! They have sold out the american people at every turn. Next the world! Again, FUCK MS!

MS is essentially saying if the admin does this they will send all jobs overseas, not just the 60% (maybe more)they sent overseas as of this time.
 Quoting: Terpsichore


And I am with you.
Anonymous Coward
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11/20/2012 09:29 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Look up H-1B visa. Microsoft is already "sending jobs overseas." They hire someone from another country, bring them here, pay them next to nothing, and then send them home again. Meanwhile American IT people are making donuts and coffee.
 Quoting: Fork Spinner 21493260


Yes, this.

Obama, show us you're better than Romney on this. Reduce the H1B program further.
Anonymous Coward
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11/20/2012 09:31 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Obozo really has no clue....
 Quoting: Anonymous Coward 687755


Ok so he has "no clue" for trying to get the jobs back to the states? By taking away tax breaks for corps. who send jobs overseas? I say that Obama calls their bluff and then we all boycott MS for insisting or threatening to keep their currently outsourced job overseas. God you will stand on anyone's side no matter how inane their demands just to oppose our President. These corporate practices have imploded our pay scales here, created massive unemployment and brought these companies record breaking profits. FUCK MS! They have sold out the american people at every turn. Next the world! Again, FUCK MS!

MS is essentially saying if the admin does this they will send all jobs overseas, not just the 60% (maybe more)they sent overseas as of this time.
 Quoting: Terpsichore


And I am with you.
 Quoting: Sickandtired 17058124

Yes, invite MS to find a new corporate home.

They can't, because most of their favorite universities, and Silicon Valley, are here. The USA has the best human capital at the high end (as well as a lump of pretty bad human capital that "like a cancer grows".)
Anonymous Coward
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11/20/2012 09:37 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Microsoft will soon move to Canada, why ?

We have 15% business tax compared to 35% in the U.S
Anonymous Coward
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11/20/2012 09:42 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Microsoft can outsource their operations to HELL for all I'm concerned. Their hardware is all manufactured overseas anyway, what's the diff if their software goons leave the country? That means more money for Balmer...WTFever.

Anyone who wants to leave the county should go--in fact, I'm surprised GLP hasn't chartered a flight itself, given the tone of the regurgitated rhetoric on here lately. Oh wait, that's right, you're all gonna stay here and eat MREs & shoot your BB guns at the drones dropping napalm. Good luck with that.
Anonymous Coward
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11/20/2012 09:50 AM
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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Odd because I thought Gates was a born again leftist supporter of Obama. I must have that wrong.
 Quoting: Anonymous Coward 646621


Whether Bill Gates or the current head of Microsoft, or financiers like Warren Buffett, you're dealing with the type of libtard otherwise known as champagne socialists. They talk a good game of being concerned for the well-being of mankind, but they're as greedy as, or even greedier than, the people and groups they oppose.
Mr. Toppit

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11/20/2012 09:57 AM

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Re: Microsoft CEO to Obama: Drop Tax Break Cuts or We'll Send Jobs Overseas
Just more thrashing around the main issue. US Govt is broke beyond broke.

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