Monday, May 11, 2009

Rats leaving the sinking ship?

I am told that the sure sign that a ship is sinking is when you see the rats trying to get out!

Well, it looks like the great ship of 'America' is sinking. After Obama's calculated announcement of trying to get the American MNCs to pay the tax on their overseas earnings, the CEO of a venerable Silicon Valley company told their employees that they are not really an 'American' company - they are a 'global' company! It is interesting the note that these companies 'expense' more in the U.S and 'make profits' abroad so that the net tax rate of some of these 'global' companies is around 2.5%!!!!!!

Obama must have expected some of this - otherwise why club "taxing overseas earnings" with 'outsourcing' in his recent announcement? Make it easier for the enemies to band together?

1 comment:

welloiledpc said...

Balanced, well-chosen, visionary!