Others, especially in Japan and Europe, are moving to a territorial system that taxes only corporate profits earned within their borders and the latest US proposals are contrary to the trend, notes Nasscom.
this means that japanese and european corporations are sustaining the tax havens directly. if the whole world supports territorial taxation, and few small kingdoms hold offices of all FIIs, what do you get?
multiple switzerlands. multiple lichtensteins. this move by the Obama administration shows that the Democrats indeed have sense of loss of American national wealth, to TAX HAVENS !!! As much as this might be aimed at outsourcing, this is also aimed at getting back Americanm wealth stashed away is tax havens by American corporate crooks. When will this kind of thinking emerge in our leaders?
When our politicians want Indian money - stashed away in Swiss Banks - brought back to India, what is wrong in Obama wanting the same to be done for US money...in this case, it is white money...and I see no other difference
OBAMA OBAMA SAB IT VALO KO KAREGA NIRNAMA. GREAT OBHAMA KEEP IT UP AND BRING BACK US ECONOMY ON TRACK AND SHOW OUR POLITICIANS HOW THEY SHOULD BE FAITHFUL TOWARDS THEIR DUTY.DIRTY INDIAN POLITICIANS.
Well, Mr. Obama this might be a self-destructive step. If this policy been enforced there are ample chances that US coporates will soon change their head quarters to Ireland or India or China... where they feel the future lies and the support of government in thriving the business... Good Luck!
Re: US companies will shift operations to other nations...
by MB on May 07, 2009 09:36 AM
INDIAN IT INDUSTRY HAVE DUG THEIR GRAVE THEMSELVES DEPENDING ON OTHER COUNTRIES. STILL UNKNOWINGLY THE DEPTH IS GETTING DEEPENED. IT INDUSTRY WILL NEVER LEARN FROM MISTAKES.
Re: US companies will shift operations to other nations...
by Lal on May 07, 2009 11:09 AM
I agree, its a self destructive. Companies will run from US. Once this makes law, other countries will try to win business from large companies by enticing them to move to their country for low taxes. Unless all countries do the same as US, it will not benefit US. Companies will always find places where they pay less tax. I don't agree with this move. That is what democrats do.
Without us Indians, nothing in the US works. Without us, they will not follow traffic rules. Without us, they will dirty up the whole country. Without us, they will become corrupt. Without us, their economy will come to a halt. Without us, they could never have sent man to the moon. Without us, they could never have exploded the atom bomb. Without us, they could never have invented computers. Without us, they could not have created heart pace makers. Without us they are totally useless. Without us, they would never have won so many Nobel prizes too. We are the smartest people in the whole world.
Re: The US cannot survive without India
by Xpress Myself on May 10, 2009 08:40 PM
Dear xxx yyy, do not be too proud of yourself - may be you have not heard the saying 'pride goes before a fall'. Charity starts at home. If you think that you are the smartest in the world, why you and your friends start taking India like the West/US by spreading the importance of developments among the people giving these examples of your achievement.........Start chaning the current political movement in India using the hi-tech. Like India, there are other countries with brain like China, Ireland, Turkey who have IT guys employed by US. The world will not stop and someone else will take over the place. In any free enterprise the benefits are mutual - US and Indians who helped have gained in the bargain (these are the people who came as students and got good high paying jobs in US and their families have moved up in the status-ladder). Even the IT industry in Indis is shining because of US giving importance to computers and IT developemnt.
Re: The US cannot survive without India
by Head Ach on May 10, 2009 09:34 PM
they have what is called money the mother of all thing it is money what makes life a better place not anything else if you have brain full of ideas you cant do anything money you dont get love without money you dont care for ur health without money that is wer they win and dont think they got it printed even they had to work very hard to make it
If Obama is serious, where will he lead these innovation driven organizations (Microsoft, Oracle, IBM, etc) to find their headcounts? It is in US interest atleast intangible interest to keep outsourching alive. Cut it off and you are cutting off your competetive edge. Sooner or later somebody else will fill up the vacuum and US will be left behind.
Re: Humbug rhetoric by Obama
by xxx yyy on May 07, 2009 06:06 AM
Looks like people write on this post without checking what he proposes to do. Do you mean to say the US cannot survive without Indians?
Re: Re: Re: Humbug rhetoric by Obama
by Head Ach on May 10, 2009 09:39 PM
there are peoples better then indians in IT even pakistanis there are lots of them who are better then indian even chinese
To get US economy out of doldrums, he needs to assure US people that their jobs will be safe in future. US economy woes are not going to benefit India. So it is good to have a golden balance.
Re: Obama has no choice
by MB on May 07, 2009 09:31 AM
YOU THINK OBAMA IS A FOOL TO ANNOUNCE MEASURES. ALL IT PEOPLE THINK THEY ARE SMART AND THATS HOW THEY IN DOLDRUMS TODAY.
The picture taken above is when President Obama stopped by at a regular Burger joint, along with VP Biden, stood in line like everyone else to order. Speaks a lot about the kind of politicians of that country (and ours too) How many times have you guys heard the term "Swadesi" ? Was it not a core theme of the Independence struggle? This US measure is something similar, so why are you guys crying and whining? Before crying foul, do some soul searching first. A healthy dose of protectionism is good for any country.. learn to live with that.
Re: Go Obama
by MB on May 07, 2009 09:34 AM
WHEN OUR POLITICIANS WANT TO VISIT A EATOUT THE WHOLE ROAD GETS BLOCKED AND TRAFFIC COMES TO A HALT. WE HAVE SEEN DIRTY DEVEGOWDA DOING THIS ONE DAY IN BANGALORE BY HOLDING A SESSION IN THE HEART OF BANGAKORE.DIRTY POLITICIANS SHOULD NOT PITY THEM.
Only those who wanted to earn more and become big landed in America and historically American entrepreneurs have profited immensely in their business by practicing immorality, ignoring ethics and utter disregard for fellow citizens or employees and concerned only about their personal wellbeing. And all present day business are founded by these same breed, who wants only to lower spending and build on profits. Ironically, Mr President is trying to change this uplift his fellow citizens, we can only wait to see how these breeds will find new ways to manipulate the system to earn more ignoring the society, unemployment or other problems.
