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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Thats the beauty of Texas. Anyone who is born 5 miles north of you is a yankee…
You really can’t seem to deal with these questions, can you?
The question was, do you approve of restrictions by other nations to exclude Americans from their labor force?
Simple. Just a yes or no. Give it a try.
right4life is working on that even as we speak.
you might want to check the mirror, wacko.
sure, why not? a country’s first duty is to its OWN citizens…
now why don’t you just have the guts to admit you’re an open border wacko, and a liar?
Oh yeah…
why should I do that when I have more fun making you look foolish?
Is this before or after ogling the fine fine ladies at the gym while pumping some serious iron?
Damn furners catch at ‘em weak moments…which is our job…!!!!
Me?
Do our crazy furn accents drive them wild? Much like yankee women are seduced by British accents?
Case point – ‘taking’ in context means Cynthia Parker not that they run off on their free accord.
I’m glad my writing is SO memorable for you..guess you don’t have much of a life otherwise…
yeah I’ve lifted more than you ever have, and have been with prettier ladies too!!
oops sorry, you don’t like to be ladies, do ya chap???
Taint nuthin wrong with a Kiwi or an Aussie lass nither.
I don’t think you’re succeeding in that endeavor unless you’re talking to the mirror.
Sure…perpetuate that old stereotype that Yankees are a bunch of overly sexualized savages that rape and pillage all the Texas wimmins…
That reminds me – there are about 300 million of us, and about 1.5 billion of them. That means – Bell Curve and all – that for every one of us there are 5 of them with identical IQs, talents and so on. Get ready for serious competition.
If by “been with” you mean “felt up with your eyes” then, I guess I would have to agree.
Does that also mean that there are 5 right4lifes over there too? Oh god.
And they can all lift more than you.
Oh, I think we have managed to demonstrate what each of us believes.
And who each of us are, in terms of character and honesty.
I believe in freedom. I believe in the right of individuals to work for who, and where, they will, within the law.
You don’t.
I love competition, and what it has meant to my nation. You fear it.
I don’t believe in open borders, any more than you believe in open markets or free choices.
The ability of people to exchange with each other on mutually agreed terms has enriched every nation where it has been fostered or allowed. Every time it has been tried.
In every nation that impedes that freedom, the people have paid for it with a lower standard of living. EVERY TIME IT IS TRIED.
There is no finite pie over which we must scramble like wolves. There is a pie that grows bigger when we follow the simple rules that govern the development of wealth.
Look on the bright side, there are 5 Chaps too. None of them lawyers though, they are whipping out .49 cent DVDs of Star Trek right this minute.
Right4life’s here to…. !!!CLAP!!! pump us up.
Unfortunately, the law is violated with impunity by politicians without the guts to admit it’s all about the race to the bottom. Wage stagnation for the middle class while productivity increases, etc…I’m all for full enforcement for 5 years and, then see where we stand vis-a-vis immigration. I don’t believe now is the time to increase unemployment in this country.
To be fair, that is probably more useful…
Was the gingerbread man story a fable or can one learn from it? To Silicon Valley executives, try not to get eaten by the one you trusted.
.49 cent DVDs of Star Trek
I don’t disagree with anything you said except the part about wage stagnation. That is a false indicator of wealth. The standard of living has…up until now…been on a upward tread for decades. We may be watching the precursors of a reversal, though.
I know it may be a minority view here, but I support legal immigration. I do NOT support an amnesty program of any type.
Simple solution … bring the jobs back to the USA and hire Americans. Send the H1B visa foreigners packing. Quit moving jobs off shore.
Very simple.
As an activist Conservative voting-Republican I’m in favor of this, big time.
But the best part is the schadenfreude gained from watching the high-tech-obama-bots writhe in a hell of their own making.
SIGH…
and how do you do that without statism?
How do you do that without restricting someone else’s freedom?
I hope you’re not suggesting that increasing taxes is going to induce companies to higher more workers? That’s pretty much in violation of even the most basic tenets of economics.
To get companies to higher workers in the US, we need to lower their cost base, not increase it. How to do that? Get rid of unions, cut bureaucratic red tape, reduce or eliminate corporate taxes, cut the personal tax rate, jettison employer funding of health care, get rid of nonsense “affirmative action” programs, get rid of stupid “sexual harassment in the workplace” idiocy, reform tort and workplace liability laws. Make an attractive environment to higher employees, and watch the unemployment rate fall!
I’d also like to get rid of chain immigration…A huge loophole that needs to be closed.
Chains are immigrating now…!?!?!
Well, that does it. If those suckers won’t stay boomed down…we’re just ski-rroood….!!!
I don’t think a temporary moratorium on immigration will damage our economy. At least until we are a lot closer to full employment. I also think middle income stagnation has been going on since the 70′s. The rise in 2 earner households has barely kept us even. Unfortunately the Chamber of Commerce and Unions have decided that we need at least, 20-40 million more low-skill workers in this country. Not everyone wants to go to college, and if everyone does; ouch…now, we have college dropouts with student loans. Do we really need even 1,000,000 more engineers ? Or Physicists? Then a phD will be the new standard. OK, now people won’t enter the workforce until 30 or so. Ahhh, now I see why s-chip will consider adults as children until age 30. Clever, sneaky too…
Actually more like the MASH episode with the new Officers Club…As long as you were related to an officer…you could get in…Hawkeye had about 30 ‘relatives’ he got in.
Sadly, from everything I can see…
we are heading in the other direction fast…
on roller skates.
I think that our recent history has us as close to full employment as we are apt to ever be with a minimum wage in place.
I greatly fear we are headed for a depression, given the trajectory our nation is on. And I’m an optimist…!
I knew, Jeff. Chains.
It was jocular banter, doncha know…
On most all points, I think we are in agreement and, sadly, It’s harder and harder to feel optimistic. Senator Hatch is talking about how Obama won’t pick an extremist supreme court nominee…I guess it depends on how you define what ‘extreme’ is…
I did enjoy that MASH episode though…
Father Mulcahy being impersonated by Klinger…”Jocularity…Jocularity…”
My bad…That was Colonel Potter…
Reg: Hatch.
There is an actual name for a syndrome that effects older guys (not me, no, no) like Hatch. It makes them mushy-headed. It afflicted Barry Goldwater in his declining years.
It is ANOTHER very good argument for term limits.
It explains a lot…but not W. That really defies explanation…
My I gently suggest acquiring a life…???
Duly noted.
Many of the strongest Obama supporters that I have met are the ones who will get royally screwed over by him. Serves them right, except many innocent people will be caught in the collateral damage.
Goes to show that one can be talented in one area yet totally lack basic horse sense in another, to their great detriment.
Late last night I posted a thingie quoting Warren Buffet as saying he expected that govt. spending would be around 80% if GDP.
He predicted that the govt. would induce inflation to cheat (my word) everyone with US debt instruments. (That would also devalue everything you own.)
Duh.
My understanding is that the M1 has been doubled since the Imaculation of THE ONE.
Rags, you are a WACKO and a LIAR!!!!
It’s spelled thingy…
Curses…!!!
foiled again…
Too bad we can’t pass a law to make taking Economics 101 mandatory before assuming office.
It is mindnumbing that the very people charged with making laws in this country, that have economic consequesnces, know nothing about economics.
PS Rags – Welcome to the club… lol
Now, I would support that law!!!!
Even a Constitutional Amendment.
Trouble is, I really wonder if people who support fascist or socialist policy ACTUALLY don’t get it.
I have to wonder if they know, and still push those tyrannies on us…
Thanks!!!
Rough initiation, though…
another open borders wacko I see
it looks like you have a ‘thang’ for me…
laughable and moronic.
how about just stopping illegal immigration and programs like the h1b visa?
why should we have to let anyone and everyone come in our counry to live and work???
‘statism’ please…stupidity is more like it..
of course not!! then you’d have to pay more to get your lawn cut and your yard work done…
I’m beginning to think you’re a cyberstalker…you’re probably still upset I made you look so idiotic when we debated evolution…
and tell me johnny boy, whats your problem?
And there you have it…
Th-th-that’s all folks!
Lord,
I a hopin’…
I’m in contract engineering and go head to head with Wipro. They are hard workers but have to be. It takes three of them to do what one of my ‘mericans can do.
They honestly are very sub-par. To make matters worse the ones they bring here on H1-B’s cost twice as much as us. They bill the customer 10k a month and I bill 5k.
Reminds me of wealthy parents who raise brats who take all their money. All I can say is “Ha Ha Ha Ha Ha”. Suffer fools! And while you still have some money left, I have a bridge in my city I can sell you…..What was it that P.T Barnum said? Suckers!
So, these companies want exemptions for overseas money…who do they think they are? politicians who keep their money in off-shore accounts to avoid taxes, hire illegals for their companies (wineries) to pay under the table and claim Puerto Rico as home state to get all of their retirement money sans taxes? Looks like maybe they have not paid off Nancy Pelosi enough. I’m guessing their congressman is not Pelosi, but probably a close friend, they should give him/her a call. Snort.
Obama is going to force them to do business in the U.S. and when the unions bankrupt them, he can just take them over with TARP money. Maybe give the business to the union for votes. Nice!!
Translation: I hope we find a way to strong arm them back.
No. For once, I was just trying to saty on topic, which clearly was making fun of your foolishness.
I was just having a little fun at your expense. No ill will intended.
I would prefer it if you kept the conversation more civil, though.
no prob….as far as ‘civil’ I was civil until mr. holier-than-thou lawyer made the following snide comment..
so I threw it back in his face, and then he whines about it…too bad..
oh so advocating secure borders if foolish…ok no surprise coming from you…
but you have been following me around lately…like your obsession with my comments about lifting weights…I was talking to spaceycakes…not you, and you come in, in an almost dead thread, and make some snide remark…and then you keep brining it up…why?
are you jealous? or just sick?
Your foolishness has nothing to do with your opinions and everything to do with your horrible attitude and the way you comport yourself on here.
No one makes people dislike them on here quicker than you. And it is because you act like an ass, plain and simple.
give me a break
so responding to an insult is terrible…but of course the person who initiated it, since he’s a lawyer, is a fine upstanding man… right..
considering the source…so answer the question..since I’m such an ‘ass’ why do you stalk me??? hmmmm??
no answer, no surprise..
It was just a question.
One of about a dozen you refused or failed to answer.
I never whine. I speak with a quiet, respectful tone almost all the time.
I drives people like you nuts, which is one reason I do it.
But only one.
Well, maybe the most fun one…
I admit I was fascinated with the weight lifting comments you made while macking on spaceycakes. It was the last piece of the puzzle needed to complete the picture of your pathology. That of a preening narcissist with an ego that bruises easier than a ripe banana.
Oh please. The question “which books have you read” was a perfectly legitimate one (which you never answered btw). The “which have you understood” was snide. But in the grand pantheon of slurs and insults and general garbage you have strewn at anyone who offends your delicate sensibilites, Rag’s comment barely registers as a blip.
But I have heard ‘roid rage can make one particularly hostile and prone to snap at the slightest perceived insult.
You boasted (my depiction) that you had read Sowell, and that you had taken graduate level courses in economics.
I was trying to qualify your claim.
Which of Sowell’s books (or Friedman’s or Hayek’s, or Mises’) have you read?
Which did you understand?
That was a reasonable set of questions, in light of the statements you were making that were…and are…anti-capitalist.
Are you familiar with the term mercantilism?
Just please, civilly answer those questions. It won’t hurt. Give it a try.
I can think of a place, where there is no overbearing Federal government that imposes it’s onerous ways upon enterprising individuals. People are truly free – free to associate, disassociate, and apply their hard work and creativity to try to reach a better life, a more comfortable lifestyle, etc. In this place, there are few rules to tell people where they can travel, what they can say, what they can buy (or sell), or how to interact with one another or place limits upon their personal efforts to gain from their work – gosh, there’s not even a minimum wage!. There is such a paradise on this earth. You can go there today. It is called…. Somalia.
OK, PhredE.
Which of those things you cataloged are you good with, then? Are you in favor of all that stuff you mentioned?
oh so you’re psychologist as well as an ambulance-chasing lawyer…so why so fascinated with me???
oh please, so its OK for a lawyer to insult me, but if I respond its ROID RAGE!!
get a grip, and a life…
it was a snotty, snide comment, one would expect from a full-of-themselves, legend in their own mind lawyer…
and to listen to you whine when I struck back was music to my ears…too funny!!
you claims about ‘anti-capitalism’ are frankly idiotic. to you having any sort of border controls are ‘anti-capitalist’
I bet if they had a H1B visa program for lawyers, you’d sing a different song.
how can a secure border and the removal of illegal aliens be ‘anti-capitalist’??? and how can the elmination of the h1B visa program, which does not benefit this country, or its citizens, rather just benefita few, as the illegals do, be anti-capitalist??
captialism is always, and has always, been practiced within the framework of nation-states.
what you want is not capitalism, rather exploitation, and a form of slavery, while people like you reap the benefits.
oh and mercantilism sure as hell is being practiced against us by china…and they own our dollars…so they own us…
its worked real well for them, now hasn’t it?
and your open-borders type of international ‘capitalism’ has left us bankrupt, now hasn’t it??
I say go for it. Open it up. I bet it would fail spectacularly. How many foreign attorneys do you think are going to come over here, study for months to take the Bar exam for the opportunity to enter an already saturated market? Why not just join one of the hundreds of US firms that have foreign branches all over the world, get the same pay you would here, and stay in your own country?
you could say the same of the H1B visa program now….but it doesn’t work that way, does it?
and making them take the bar exam is racist, obviously.
As I figured.
Right can’t answer any of the questions posed.
It is apparent he/she has no freaking idea about what we are discussing.
He/she…despite claims to the contrary…is utterly ignorant of economics…even on the most elementary level.
Done.
I don’t know. Do these firms using these workers have foreign offices where they offer a very comparable pay scale?
Nope. Just like every other attorney (except in Wisconsin if you attended a Wisconsin law school).
Hey, Chaps…
are you an Irish hater…?
No. I only hate Icelanders.
yadayada same old BS.
IBM microsoft, sure they have foreign offices…
why do you think they want to have programmers or engineers come here and work???
couldn’t be so they can pay them less, and hold down wages in general??
naw….
but of course it is…according to people like Ragg-doll its an infrigement upon his freedom and upon capitalism in general…
besides making dark-skinned foreigners do this is obviously racist..
btw: speaking to you is casting pearls before swine..
Oh, I doubt very seriously that anybody here would mistake your castings for pearls…
given that all you could do is accuse anyone who disagrees of ‘anti-capitalism’
I’m surprised you make any money as a lawyer…how many times have you been laughed out of court?
or do you restrict your lawyer duties to fixing parking tickets?
Chaps;
Was your reference to “‘roid rage” alluding to hemorrhoid rage…?
I can see how Right might be an epic sufferer, and that would explain a great deal…
beter that than alzheimers..
But that, like so much of what you have said, is obviously not true.
I have asked simple, direct questions…
repeatedly.
You have shown you cannot answer them. You have displayed your ignorance in crystal clear terms.
Thank you for participating in our little demonstration.
BTW, this is what I do for a living. I listen to what people say, ask questions, and prove that their statements are true or false.
I enjoy that role very, very much.
your inability to understand my answer doesn’t mean I didn’t answer….
and you do it very poorly, thats blatantly obvious.
lets have an example here…
you couldn’t answer my question…and I answered your question with …
and you responded with…crickets chirping…
oh and you admitted yourself…
and yet you portray yourself as some kind of economic guru…with an MBA…right…
This thread is a record.
The record speaks for itself.
Loudly.