Currently, US tax regulations allow companies to defer foreign profit payments of corporate rates by as much as 35 per cent as long as the cash remains invested overseas, but Obama wants to kybosh those rules.It's a bit esoteric, that - except for the $190 Billion bit. Now never mind that companies never really pay taxes: customers and shareholders pay taxes on corporations, because these are either passed on in price increases (if possible) or lower profits (which almost never happens except in the very short run). That's not really the point. This is:
"We’re better off taking lots of people and moving them out of the US as opposed to keeping them inside the US," [Steve Ballmer, Microsoft CEO] said.Seems that the way Microsoft makes most of its money is by work done by its employees (funny, that). Seems that this will reduce how much money a (US based) employee will make for the company.
Glad all those Really Smart Ivy League types are in charge in Washington. They should bring this level of planning competence to Detroit any day now.
Well done, all you voters in Washington state. Glad your guy is looking out for you. Oh, wait ...
No comments:
Post a Comment