'No' to Bangalore, 'Yes' to Buffalo -- Barrack Hussein Obama

[Goodperson]

Lest Pakistanis get blamed for posting 'anti-India' commentary, Communist is Indian.

Good Joke. Especially when no one complained.

 

[AgNoStiC MuSliM]

Good Joke. Especially when no one complained.

What, you don't believe he is Indian?

 

[linkinpark]

Let him keep the jobs in US and ask their companies to compete globally, they will lose in the market because of thing margins or losses all together. Expect other countries to impose protectionist measures to deny American companies growth. A tit-for-tat kind of response.

 

[gpit]

Without benefiting Buffalo, there is no need for Bangalore. This is what I believe the signal Mr. Obama is sending to American people, not to Indians.

With a good regulation in place, globalization will be stopped, but will be fairer.

Perhaps true that American cooperates will thus earn less $, but American people will put a little bit more into their pocket or pay less tax.

 

[Al-zakir]

'No' to Bangalore, 'Yes' to Buffalo -- Barrack Hussein Obama[/SIZE]

He is the president of USA so therefore Americans need to be taken care first before anyone else. Americans are suffering due to Bush f**ked up policies that his ****** rich cronies out source all the job to India to get even more rich. All this jobs need to be brought back to USA so that people here can have better life. There are many graduates are working low paying jobs and thats not even funny no more.

 

[blain2]

Not a good move.. on one hand they advocate globalisation.. on the other hand they indulge in protectionsim... !! Not right at all..!!!

Not a good move but you have to remember that between politics and economics, politics always win out. Secondly, this is not exactly protectionism because what he is proposing to keep the jobs in the US has yet to be seen.

 

[wtf]

What, you don't believe he is Indian?

No I don't. That would be really surprising to me, actually.

He does not know(or did not demonstrate any knowledge) any of the Indian politicians, does not understand the regional differences and nuances, can't speak Bangla, Tamil or Malayalam etc. His views on Communism also ignore the history of communism in India.

On top of that he once asked what skin colour I was so that he could better understand my views - It is rare to be asked that question by an Indian. A large pool of Indians first differentiate by language, then by job background, then by religion/caste whatever. I have never been asked a direct caste related question (OK, maybe once in Bihar), it remains illegal in India to question someone about caste.

If he is really based in India, he has been either living under a rock or more likely he is using a proxy to post from an Indian IP.

 

[wtf]

That is the most stupidest plan by Obama, First he should of thought about improving the American corporate tax struture to bring back jobs, Instead he is pushing the corporation further away from the United States. These corporations will eventuatly move there headquarters out of America. Typical Liberal!!!!

The article is an exaggeration, the plan had been scaled down by day before yesterday through debates.
What it will specifically prevent is this -- If US companies borrow in US and then invest in foreign countries, the company currently does not pay taxes in either regimes. In addition, the Debt gives them tax credits (offsets) against other income the company may have in the US.
Obama claims is this - If I am a US company that made $10M Profits, I could potentially borrow another $10M (actual number varies) and re-invest in abroad and pay no taxes due to tax credits I get for taking the loan (and paying back interest for the loan). Obama wants to make sure that the company is taxed either in the US or abroad by not awarding tax credits until the profits are repatriated.

The biggest hit would be tech companies, but the new bill has a big R&D loophole - you'll soon see companies calling almost everything they do in India R&D. Sales in India will be profit of course, but they'll push everything else as R&D.

Net effect, a small tax increase for US until companies figure out the loopholes.

 

[idune]

That is the most stupidest plan by Obama, First he should of thought about improving the American corporate tax struture to bring back jobs, Instead he is pushing the corporation further away from the United States. These corporations will eventuatly move there headquarters out of America. Typical Liberal!!!!

This is wisest thing Obama has done. This will encourage to keep more jobs at home. In current economic situation "globalization"as we knew it is dead. Rather its regional approach that is gaining momentum. So anti globalization arguments will not hold water.

As far US corporation moving out of US and being competitive, that is far fetched argument. US company will remain where they are and no country in the world con provide better alternatives and US can always and are providing fiscal incentive to its companies which no other country can. Power of printing money.

Only thing indians can do (beside complaining) lower their wage. I heard newly grad MBA in india now can be hired for less than 10k indian rupee.

 

[Goodperson]

What, you don't believe he is Indian?

How does it matter ? he is just another poster with his own views which may be relevant or not ? Its up-to you to decide whether his views are contributing or degrading to the forum or not. Hope you apply same yardstick for other posters. This is my sincere opinion and not advice.

 

[jeypore]

idune;

This is wisest thing Obama has done. This will encourage to keep more jobs at home. In current economic situation "globalization"as we knew it is dead. Rather its regional approach that is gaining momentum. So anti globalization arguments will not hold water.

You my friend is completly out of touch with the business world!!! You are living in a global economy and there is no turning back. Obama is a socialist, and that is why he is talking nonsense, and also that is what he promised in his presidential campaigne (bring jobs back home). In this global economy bringing jobs back does not solve the problem because you have to remain competitive in the market. Example, just look up hugo chevais textile business scheme, it failed miserably, I can even provide a link if you cannot find it. Likewise, US and Obama especially, should be fighting for competitiveness and build upon that to build jobs. There are several that comes to my mind, but hey who am I!!!!

As far US corporation moving out of US and being competitive, that is far fetched argument. US company will remain where they are and no country in the world con provide better alternatives and US can always and are providing fiscal incentive to its companies which no other country can. Power of printing money.

No it is not, Corporation make decision on profit, and they will find the savings they need. If they have to move there headquarter to tax shelter (which benefits them), they will do it in a heart beat, do not underestimate.

Only thing indians can do (beside complaining) lower their wage. I heard newly grad MBA in india now can be hired for less than 10k indian rupee.

Indians are not complaining, infact Indians are modifing in a ever changing enviroment, again do not underestimate!!!

Thanks.

 

[notsuperstitious]

What, you don't believe he is Indian?

He does not consider himself to be an indian, he takes no blame or credit for what India is, always lumps indians into one group, but he's not part of it. So it does not matter where he is located does it? He's just someone who's seen the light, and automatically become hateful and bigoted has happened to most of them.

 

[wtf]

This is wisest thing Obama has done. This will encourage to keep more jobs at home. In current economic situation "globalization"as we knew it is dead. Rather its regional approach that is gaining momentum. So anti globalization arguments will not hold water.

As far US corporation moving out of US and being competitive, that is far fetched argument. US company will remain where they are and no country in the world con provide better alternatives and US can always and are providing fiscal incentive to its companies which no other country can. Power of printing money.

Only thing indians can do (beside complaining) lower their wage. I heard newly grad MBA in india now can be hired for less than 10k indian rupee.

**** dude.. it screws up B'desh (or Pakistan,Asia or Africa) as much as it does India. If you want to say "US should do what is in their interest", I'll rest my argument.

But in general, open trade helps poor countries more than it helps the rich (as long as it is not a natural resource or a non-labour related good).

Your comment about Indian MBA sounds like cutting the nose to spite the face - we are in this together at least on trade.

And about power of printing money, Obama is trying to print money and at the same time keeping it strong as far as he can - he is actually trying to bring money back into US while at the same time devaluing it(If I were to believe his speeches). I can't read his mind, but he and his adisors are upto something really smart or really complicated.

 

[sob]

The statement from President Obama is just meant for his political constituents and not a policy decision. This bill does not look ready to pass in the Congress as we all know about the power of the US Lobbyists and the clout the American companies have.

Also with the way Indian and American economies are getting interlinked it will be very difficult for US to pass such a law. Also it is very important to note that India is a net investor in US i.e investment from India into US is far larger than US Investment in India.

There is a very interesting article in WSJ about a new plant by Welspun opened in Little Rock Arkansas.

Indian Steel Forges in U.S.

With U.S. steel mills operating at their lowest levels since the Depression, India's Welspun-Gujarat Stahl Rohren Ltd. last week opened a $150 million plant here to make steel pipe.

Mr. B.K.Goenka, Chairman and Managing Director, Welspun, says that by opening its first plant in the U.S., paying taxes and employing local workers, Welspun-Gujarat is trying to show that it is not only an exporter but also an investor in the U.S. -- a nod to the scrutiny foreign manufacturers are facing amid the loss of manufacturing jobs in the U.S.

Indian Steel Forges in U.S. - WSJ.com

 

[sob]

President's Tax Proposal Riles Business

President Barack Obama's plan to revamp international tax rules stirred opposition from many multinational businesses and questions among a few leading lawmakers. But even if the proposal doesn't advance rapidly, policy makers said a broader corporate-tax overhaul is becoming increasingly likely over the next two years.

Mr. Obama, speaking in the White House grand foyer Monday, vowed to push forward with his plan, which would curb some of the biggest overseas tax advantages enjoyed by multinationals. He said it was a way to restore fundamental fairness while also encouraging more U.S.-based jobs.
Sen. Max Baucus (D., Mont.), chairman of the Senate Finance Committee, said further study is needed to determine the impact of the plan on U.S. businesses. "I want to make certain that our tax policies are fair and support the global competitiveness of U.S. businesses," he said. One question committee staff is exploring is how abusive some of the corporate tax practices are.

The White House plan has three main elements affecting businesses. It would curb corporations' ability to park their overseas business earnings indefinitely outside the U.S. and avoid U.S. taxes, a practice known as deferral. The plan would change the legal treatment of many international subsidiaries that companies have used to shift earnings into low-tax offshore havens. And it would put new limits on corporations' ability to use offshore subsidiaries to generate unjustified foreign-tax credits.

White House officials said the plan is an attempt to reduce the role of small tax-haven countries that have eroded the tax bases of developed countries such as the U.S.

Business groups on Monday warned that Mr. Obama's plan would eliminate American jobs, not add them. They said the current rules are aimed primarily at putting U.S. companies on an equal tax footing with international rivals, many of which benefit from favorable tax treatment by their home countries.

"The overseas operations of U.S. multinational companies support jobs and higher living standards here at home," said John Castellani, president of the Business Roundtable, an association of chief executives of major corporations.

Such an argument could appeal to lawmakers who will be weighing the Obama proposal -- and who are concerned about employment rates in their home districts during the economic downturn.

President's Tax Proposal Riles Business - WSJ.com

Going thru the above article the real substance of the policy direction of the US Govt. looks clearer. The Thrust is on increasing the Tax revenues, by plugging in loopholes.
White House officials said the plan is an attempt to reduce the role of small tax-haven countries that have eroded the tax bases of developed countries such as the U.S.