Dear tech execs, you reap what you sow
Yesterday, I noted that Silicon Valley expressed its displeasure with President Obama’s plans to require corporations to pay billions of dollars in U.S. taxes on foreign earnings that they have previously been allowed to defer.
Today, there’s more whining from the tech companies that boosted Obama’s campaign and filled his coffers.
Calll the wahmbulance (hat tip – William Amos):
Carl Guardino usually comes across as an amenable, mild-mannered Silicon Valley executive. But not on Monday. Not when he watched President Obama promising to end overseas tax breaks for U.S. companies that “create a job in Bangalore, India, (rather than) one in Buffalo, N.Y.” Guardino, CEO of the Silicon Valley Leadership Group, angrily described Obama’s language as “not only discouraging, but divisive.” The president’s implication that companies such as Cisco Systems and Hewlett-Packard merely “ship jobs overseas,” and are being rewarded in the bargain, came as a shock to Guardino, who otherwise described the president as “brilliant and respected by so many in the tech sector who are counting on the administration as their ally.”
Indeed, Obama’s proposal to limit U.S. companies’ ability to defer paying U.S. taxes on offshore earnings does put Bay Area companies doing a lot of business overseas directly in the crosshairs. “It would adversely impact our ability to invest and grow our business in the (United States) and to compete against our foreign competitors,” said a spokesman for Cisco.
Google, whose CEO, Eric Schmidt, is supposed to be a close buddy of Obama’s, said it is “too early to evaluate the potential effect on Google’s operations, as there will likely be multiple proposals considered.”
…So, doth Guardino et. al. protest too much? Not according to Atulya Sarin, a professor of finance at Santa Clara University. “It’s a bad idea from the word go,” said Sarin, who has consulted with the Internal Revenue Service and with Fortune 100 companies on international tax issues. “Increasing these taxes will reduce after-tax profits, which will reduce incentives. Right now, the administration should be helping Silicon Valley maintain its competitive edge, not making it less so. I hope saner minds will prevail.”
Reap. Sow. Repeat.
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Possibly-Mexican gang bangers have gone into the Distribution business here on a large scale and do provide jobs for police, prison guards, Emergency room personnel, undertakers and alarm companies. Supposedly we ship them large numbers of arms but Home Land Security’s J-No and Arizona’s Attorney General Terry Goddard were mistaken–those AK 47s are generally from China or Eastern Europe.
But that is a small price to pay for lower green fees for our Imperial Senate. IF NAFTA were run the way it was promised I could accept that–my company did sell to Mexico. But NAFTA was continuously re worked to the benefit of special people of special privilege.
But the H1B visa program is of special concern: both Intel and IBM brought in H1B visa program engineers and then laid off American engineers AFTER forcing the American engineers to train them. Those American engineers who refused were “fired for cause” which would and did make them unemployable.
Odd lawsuit it is–the Department of Labor filed a Friend of the Court Brief for the American engineers while the Commerce Department has filed for the companies. Oh would I love to be on that jury but as a son-in-law is involved I guess that would never happen.
I made myself misunderstood. I certainly CAN answer your questions…though I doubt it would avail.
I don’t have the time or inclination.
thats the standard answer from IBM, MS, etc…same old BS..
they NEVER can find anyone who is a citizen, so they have to get a low-paid foreigner to do the work.
amazing how dumb and lazy americans are isn’t it??
as I said before, go take a flying leap…its easy to see you’re a lawyer…arrogant piece of trash.
not a chance moron.
Umm…two word response.
President Obama.
ok mr. expert RAGGIE…tell me why have a H1B visa program in the first place???
hmmm??
oh let me guess…you can’t find qualified american workers!!!
so you have to hire low-wage foreigners….isnt’ that nice how it always works that way??? duhhhhh…
MarcoPolo said:
Investments are not profits or, as you say ‘untaxed revenue’. They are expenses. US company expenses here aren’t taxed either.
All other posters will take note to the resort to name-calling by “Right”.
Seems like a abrogation of rational debate to me….
lame. nice to see you have so much regard for your fellow citizens..
let me guess, you have some nice mexicans who do your lawn work…
whiner…loser.
are all lawyers pansies??
Rags, other posters were taking note of that long ago.
and we’ve taken note of your lies and BS long ago chappy..
another lawyer..
do any lawyers NOT suck??
Your “guess” is as wrong as all your other wrong statements here.
I do my own work. Sort of a carry-over of my life’s course…I was in the building trades, contracting, and the oil field before I went to law school.
Your ASSumptions are showing….
I don’t think so. I think he is a sociopath that has absolutely no interest in what’s best for us economically. He will tromp everyone and everything to achieve his personal vision of what America should be, namely the socialist front of the new global economy.
And even if he is it’s not just him. There are simply too many lawyers in Congress. I think we’d all be better off if bean counters were elected to higher offices. They are boring to listen to, but we would know where our money was going.
Are zombies eligible for H-1B visas too ?
what statements of mine are wrong? post your proof. ya got nothing. no surprise there.
so brining in low-wage workers from mexico, say, to do construction jobs won’t result in lower wages for americans still doing the jobs, and less jobs for americans??
right..post your proof…this is econ 101..supply and demand….and you have an MBA??? please…
wow that was clever!! you must be a lawyer there gomer
No. We have too many Dimocrat voters now.
The answer to your first question is, Of course. If you reduced the number of skilled tradesmen to one, that guy could command a very high wage, indeed.
The answer to your second question is, No. If you have an unmet demand for skilled tradesmen, they are…by definition…fully employed.
Duh…
so where is all this ‘unmet demand’ with our 8.5% unemployment rate??? hmmm??? Duhhhhhhhhh
‘unmet demand’ thats the kind of BS that Microsoft uses to justify the H1B visa program…its BS. its ‘lawyereze’ for ‘we want to hire cheap labor so BillG can get another ferrari’
As far as I’m concerned, for anyone who voted for Hope-a-Dope or gave money to his campaign there’s:
- No burden too heavy to bear;
- No sacrifice too much to call for;
- No pain too great to suffer;
- No price too expensive to pay;
- No shame too deep to experience; and
- No humiliation too degrading to endure.
Anyone who paid any attention at all during the campaign had to know what was coming if they supported that man. There’s no acceptable excuse for willful ignorance. For any such people who express buyer’s remorse today, the only proper response is one of scorn and contempt.
if companies like Microsoft, IBM, etc wanted more programmers IN THE LONG RUN, since we are ALL so concerned with the long run..then they should pay a higher wage which would encourage more college kids to go into the field(s)…
just the opposite has occured…
Perhaps I failed to mention the thousands of structures in my area that remain in need of basic re-roofing?
Duh…
Your turn….
The engineering school at TAMU does not suffer from a lack of eager recruiters from the private sector.
Of course, not all engineering schools are as good…
Could we see a link to any sort of evidence that H1B workers in these industries are paid less than the equivalent American worker?
Isn’t that the crux of your argument, right? I am sure you must have some figures on hand for such a deeply held belief.
I don’t question the problems you have with public schools, they are poor. However I do question the rest of your assertions.
I use to teach math and science and have a masters in math. I didn’t get that masters myself until I was 35. I had to go back to graduate school and my wife and I lived on $400 per month, due to the 80′s recession. It was only then did I learn computer science and made a career of it – well past the ’20s in which you say it is too late to learn these skills.
I went on to become an independant contractor and consultant. As such I have trained people with a variety of skills and taught them to be independent contractors themselves. It DOES NOT REQUIRE MATH in school at all. What it requires is the old American willingness to learn new skills, a mentor and a logical mind. NOT EVEN public skills can drum this out of our kids.
Don’t sell American’s or the kids short.
Lest anyone misconstrue my example of the unmet demand for tradesmen with an implied approval of illegal immigration…
let me state that I categorically do not approve of illegal immigration.
I merely use my example as a means to show that contractors here do not employ anybody “below the American wage”. If you can find somebody with the skills, you pay the going rate. Period.
why don’t you post a reference? you are lawyer, and they tend to be liars.
maybe you just need a few more illegal aliens in your area!
or maybe if you actually PAID a little more, instead of slave wages, you could get your roof done…duhhhhhhh
your turn moron.
oh this is such BS…you have no idea, no proof, nothing.
and how many of them are from this country? usually the engineering, science departments at universities are full of foreigners…
so you are telling me that illegal aliens DO NOT work for less than an american??
same for h1B visas too right??
pathetically stupid.
I think you could do a Google Earth search and see the proof of my assertions in real time.
My roof needs no repairs, as I am a person of energy and remarkably diverse skills.
I think it telling that you continually feel the need to resort to playground name calling.
Could that have an effect on your own employment…
Just sayin’….
Marco Polo disagrees with the premise i gave: “Soetoro” is an economic numb nut. The insinuation is that he is devoid of any understanding of an economic system that has worked pretty well here for over 200 years.
Yet MP says:
I rest my case. That isnt an economy at all. It is a totalitarian system of extortion run by a cartel.
Numb nut, I say.
Bear1909 out.
Not really true. Visa holders are like indentured servants. They don’t get to move around for higher wages like the rest of us. They stick with the contracting company that holds their H1B visa. Infosys would be an example. Now even though the Indian worker lives in the US, they will get the Indian wage for what they do (and all expenses paid). However Infosys will still bill the same rate as any American company.
The visa actually becomes an asset of Infosys which they hold on to tightly. They even keep workers in the US who aren’t worker just to keep that H1 Slot.
laughable…why don’t you post some RESEARCH that backs up your ASSertions?? hmmmmm?? since you’re SO SCHOLARLY and such a brilliant individual
laughable…..are you for real?? no one can be this pompous and idiotic…oh wait, you’re a lawyer!!
apparently it bothers you greatly…so I will continue jacka**
Still waiting for any numbers showing H1B workers earn less than American counterparts….
You know…whenever you can get around to that…
It ain’t bragging if you can do it.
Your resort to ad hominem attack does not bother me in the least. I find it says volumes about the poverty of your arguments and your maturity.
So, please, keep it up.
link
according to RAGGY, this can’t be possible!! they’re lying!!!
Why don’t you provide the figures that says that they earn the same? Since that would need to be used to justify the program. I would think that would be easy.
What does that have to do with H1B visa workers?
I already posted that DUHHHHHHH look on the previous page….let me guess…you must be a lawyer!!
here, I’ll repost this much, you can go back and find, I think, and follow the link…
moron
Because I am not making any assertion, right4life is. Usually, its good form to try to prove your own argument.
Here’s one
Ummm….Right…
If a lot of those unemployed construction workers wanted to displace themselves and their families, and move to Texas, Louisiana, Mississippi, and Alabama…
Oh, yeah, and accept non-union work…
They would be EMPLOYED.
But, as we know, UNEMPLOYMENT frequently involves some degree of choice on the part of the individual.
Or would you disagree with that, too…???
so you say.
Saying that overall wages drop as supply increases is not the same as saying that one subgroup is paid less than the other, which is what you claim.
Well, of course.
Like I pointed out earlier, if you RESTRICT the supply of anything…
you will artificially raise its costs, lower quality, and cause SHORTAGES, which are ALWAYS the result of market distortions.
I would love it if all law schools were shut down tomorrow. I…and other incumbent practitioners would then be able to command much higher rates, caused by the SHORTAGE of people with my skills. We could all get away with doing LOWER QUALITY WORK, because the competitive forces that the market imposes would have been DESTROYED.
http://www.businessweek.com/bwdaily/dnflash/content/oct2008/db2008108_844949.htm?chan=top+news_top+news+index+-+temp_news+%2B+analysis
I don’t really care what the h1b visa holders are paid…but its rather obvious why they are hired isn’t it? the same reason we *need* all those illegal aliens….
Jeff, fraud is…well, fraud.
so we should just have open borders!! you know borders *restrict* the supply of labor in this country…
Yep. Capitalism at work, people being left free to make choices, to engage in commerce. Freedom.
I am a capitalist. You apparently are something else.
link
Fraud and “technical violations ” drive down prevailing wages which are self-reported to the State Dept. not cross-checked with Dept. of Labor. Since, no employer has an incentive to “play fair” , to compete with others…Notice they also use the visas for HR departments, etc…I did not know we had a shortage of them too. Apparently Indian HR managers are more up-to-date on US law ?
It’d work just as well if we drowned a few thousand like puppies. Like the old joke about NY Harbor.
you are an open borders type obviously.
so when you hire your illegal aliens does it give you a rush of power to have brown-skinned serfs working for ya??
kinda like a ‘bwana’ on a plantation?
My bad. I have no idea where I would have gotten the idea you care about what they get paid.
On May 5th, 2009 at 12:05 pm, right4life said
On May 5th, 2009 at 1:10 pm, right4life said:
On May 5th, 2009 at 2:23 pm, right4life said:
oh raggy, do you drink your mint-julip while you watch them work???
bet you have one of them fan you with a palm leaf…
its obvious they are paid less, but even if they were not, they would hold wages down…supply and demand, you know…duhhhhh
Freedom for non-citizens ? Ummmm…
I thought we were past this…Non-citizens do NOT, in my opinion, have a right to compete with citizens for employment in the US.
oh and I was also talking about illegal aliens….reading is fundamental
Well, not so much…if you look at our present circumstances…
And, no, I do not advocate open borders.
I do advocate leaving people free to trade with one and other.
We have borders at our state lines, too, right? Should Texas companies be restricted by Texas law from trading with a person from Ohio? I mean, a law like that would assure higher prices for WHATEVER could be commanded by Texans.
I buy stuff…and I sell stuff…to people from all over the planet. Is that bad? Do you have a right to tell me I cannot?
notice there is NO H1B program for lawyers…and who is defending the program here…. no surprise!
Congress is the ultimate authority on matters of international commerce. There is NO unrestricted right to engage in commerce outside the borders of the US. IMHO, it should exercise that authority a little more often.
So, your evidence that H1B workers come over here and happily accept lower wages is a lawsuit involving H1B workers that are suing because they were not paid the higher wages they were promised?
beyond stupid…you must be a lawyer…
having worked with quite a few h1b workers…have you???
these people are OBVIOUSLY liars!!!
link
We aren’t even discussing national security implications of foreign citizens working in tech fields. Plus, the abuse of h1b holders is due to the playing-field totally against workers. BTW…Lawyers do control the numbers in their occupation. Limited slots in Law achool…Any time you regulate a field, you remove competition; by increasing the difficulty of entry far beyond what is neccessary.
‘K. If it is such an easily answered question…
show us your chops and answer it.
Umm… I think the US constitution has a little something to say on that topic. Something about, regulating interstate commerce , or, something. Maybe, someone could look it up?
do you think there’s a difference between state borders and national borders???? sigh…
That is a true statement. It used to be that some of our best lawyers were self-educated. I support CERTIFICATION over LICENSING for that very reason. In the name of controlling quality, various professions limit the market for their services via licensing. You could do the same thing with a certification program, which the bar tests used to be.
There are 200 law schools in the US. if you can’t get into a lower tier toilet like some of them out there, you are probably barely literate.
A better argument from your perspective would be having to pass the bar exam. That is where existing attorneys actually can have an effect in limitng the number of new applicants to the field.
Though considering from 1995 to 2006 there was an almost 25% increase in the number of attorneys in the US, history would indicate that lawyers are hardly being very protective of their jobs.
Sure. But why? Do you remember where that provision came from historically?
And that doesn’t answer my question.
They haven’t figured out yet that Obama was a Red-Diaper baby, born and raised as a full-blooded Marxist, who describes his journey as follows:
The destruction of American capitalism is Obama’s goal.
The American executives who supported Obama with their contributions and their votes were fools. Some of them are waking up to who this man really is. Others are still foolishly holding out hope that Obama will actually do something to help, rather than harm, their businesses.
OK. Another anti-capitalist. Gotcha.
well,a lot of em don’t look past the extra bar dues rollin’ in.
another open borders wacko gotcha.
And that is simply a lie.
But, at this point, I expect nothing better from you.
I think maybe you have shown us all why you might have trouble with employment.
It’s got nothing to do with being pro/anti-Capitalism at all – it’s Constitutional requirement that defines how our country is to manage it’s own affairs in relation to foreign governments, treaties, etc.
If you don’t like the Constitution, either change it or find a new country.
words, just words.
its obvious you are for open borders, while denying it…let me guess, you’re a lawyer!!
you call anyone who disagrees ‘anti-capitalist’ more lies and BS…par for the course…moron.
I don’t think that my rights come from Congress. Consistent with what the Founders said.
Show me were it says in the Constitution that Congress can rightfully restrict my ability to freely trade with people. We will agree that I cannot trade in strategic things or information. But outside that, what would you contend the Constitution tells Congress I should not be free to trade in?
who cares? we all know the constitution means whatever 5 people on the supreme court says it does..
whats your next BS argument???
But it is not. It is a lie, and I fully expect you to continue to recite it. Like continuing to call me names of other kinds.
Not at all. I call someone who believes in something other than capitalism an anti-capitalist.
Like you. You have no respect or appreciation for markets, and would willingly distort them according to your own lights.
OK. You can advocate that. Just be honest.
Hmm…run up against another question you can’t answer…
must be depressing to be you…
your own words prove it…
yeah having border enforcement is ‘distoring’ the markets…
beyond stupid.
yeah its depressing getting so many laughs from reading your posts!!
From someone who bought a PowerBook back in 1996 for over 5 grand!…those days may return, eh?
Anyway,I can’t see BHO distancing himself too far from this ‘money base’.
My guess is that most of the companies that are BHOs pets will get gov’t contracts to counter any tax. Sort of like the tarp/bailouts, the contracts will be loaded with requirements for who to hire, union involvement etc. I see Google getting a big contract(s).
In the end, quality of goods ‘produced’ by those companies will diminish.
I pray that there will be some spirited techies who can beat the system and still come up with new innovations, hopefully for a low price.
Advocating free trade does not mean that I see no reason to have secure borders. Free trade can be…has historically been…conducted across secure borders.
To assert that would truly be dishonest. Like you have been. Are you, in fact, that ignorant of history and economics?
if you knew anything about economics, as you say you do, then its rather OBVIOUS that border restrictions of ANY type, restrict the free flow of goods and services….
OK, and I have said that free trade against the strategic interests of the nation is an exception.
Or did you miss that from having to wipe the froth off your face?
There are MANY valid reasons to restrict the flow of ILLEGAL immigrants into the US. There are very few…if any…legitimate reasons under capitalism to restrict our right to work where we will or the right of others…who legally come here…to work where they will.
Or do you think Americans should also be excluded from other nations…???
YES!!!! Frickin yankee carpet baggers!! Come down here taking our women folk, stealing out cattle and salting our fields. Any traitorous barbarian doing business with a yankee commie royalty-lovin loyalist needs to be strung up!
And they talk funny, too…!!!
What does this say about the intelligence of your women folk?
oh please, what are ‘strategic’ interests of the nation?
so you’re for open borders.
and all your ‘equivocating’ is BS.
no other nation on God’s earth lets people just come and go to work as they please, get on welfare, except for western socialist welfare states…
why don’t you try to go to China and get a job? just walk right in, and ask for welfare….see what happens…