Thread: Obama’s Plan on Corporate Taxes Unnerves Indian Outsourcer

May 6, 2009
Obama’s Plan on Corporate Taxes Unnerves the Indian Outsourcing Industry
By HEATHER TIMMONS
NEW DELHI — President Obama’s proposal to change the American corporate tax system is winning few fans in India, where some say it is aimed at curbing the country’s outsourcing industry.

Perhaps that is because Mr. Obama specifically struck out at the epicenter of Indian outsourcing.

The president vowed Monday to overhaul a tax code that allowed companies to pay less tax, as he put it, to “create a job in Bangalore, India, than if you create one in Buffalo, New York.â€

American companies have tens of thousands of employees in India in wholly owned subsidiaries. Many of these Indian operations handle customer service and back-office functions, particularly for banks and credit card companies. American businesses employ thousands more in India by contracting work to local technology and outsourcing companies.

Obama's right to attempt to restructure.
IMO American companies who outsource these jobs should be TAXED DOUBLE for taking away the prospects of American workers to provide a living for their families here in this country.

Obama said American Co. who outsource to other countries pay only about 10% taxes while American Co. who stay here pay 35 % taxes.

He also wants to stop American Co. from off shoring their money to keep from paying taxes.

Obama says this will produce bllions in tax revenue and bring jobs back to America.

All this sounds wonderful and most Americans would agree to this proposal,problem is Amnesty will cost nearly a TRILLION dollars upfront and nearly TWO TRILLION later in benefits to IA's who are given Amnesty according to analysis at Numbersusa and add to the misery of unemployed Americans.

What a farce !!!!!!!!!!!!

It seems that whenever Obama does anything that is right and/or would be beneficial to the American people there is inevitably some scam or scheme involved in the actions and/or legislation that ultimately ends up hurting Americans. If we wait a bit, I’m sure that we will find out what Obama is up to this time around.

And too, I wonder if the people in his administration that have off-shore accounts will be affected by the proposed legislation. Somehow, I doubt it.