InsideTech

Hmm not really an Obama fan, but if it means less foreign workers and that companies who invest in American workers do better, then I am for it. Rather than bailout the companies who use all the foreign IT workers, why not reward those who keep their workers here with tax rewards. We as American workers have been quiet too long.

Good job Obama! Well, i'm sure there are alot of loopholes and you would think the Tech industry would look out for its own...I mean after all, we are trying to learn the technology to keep a thriving IT workforce, wasn't that one of the goals from the begining?

way to go obama tax them to near death.

It's about time something was done about the taxation of greedy corporations who make most of their profits by off shoring of IT talent to foreign operations laying off the on shore talent and not paying taxes on profits earned off shore. Another issue is the trillions of dollars sitting off shore that are being untaxed. There has to be some incentive to repatriate these dollars. If BO would allow them to repatriate the dollars and put them to work creating American Tech Jobs on shore for US citizens only, then that would certainly help alleviate this economic mess that George Bush created during his administration.

So far the current administration has quadrupled the deficit and there are no new jobs created. What did we vote for? Change? When? Guess what - the stimulus bill, which the democrat controlled congress pushed through with no republican support, won't take effect until 2010 - when mid term elections occur. Coincidence? By then unemployment will hit double digits, inflation will soar and we will have a replay of the Jimmy Carter years. Look up the "Misery Index" in wikipedia. I wasn't a huge Bush fan but he had one of the lowest indexes since they started the index.
A job in India on a help desk might not look too bad.

"I think Archenstone had a very valid point actually. So do you, David. It's tough because the successful corporations are sort of the only ones that are working right now, by definition, and because of that it appears unfair to tax them to fix the economy. However, with a variable tax rate like the ones we have, it is also unfair that corporations have ways out whereas the people, who have much less capital accumulated have to pay upwards of 30% on their income. I earn 39k and lost almost all of it to taxes and bills. How many of us earn 40,000 and never live to see that bank account go up? I myself have about 2300 in the bank. That is how brutal it is to the middle class in this nation.

Just keep in mind we have to dig a way out before we can start climbing. Inaction during a downturn is just going to encourage a depression. It has happened before, and will happen again.

Shame someone already built all the highways ;)

Also, sucks being in IT and having it be targeted, since company overhead and extra costs, esp a tax hike, will just encourage job cuts. IBM already lost 5000 this year, I'm just lucky to be in an unaffected sector (field tech).

recon69 is a moron. Get the facts pal.

Why Buster do companies need to pay tax on income?

Why do PEOPLE need to pay tax on income? Because that's the way we've done it for nearly 100 years.

If this country is to move beyond its current problems several considerations need to be taken.

One, we are moving towards a total service economy, with very little production of hard goods. The median income in this country is around $48,000.00 USD, which doesn't get a lot of buying power, and/or earning power to save and spend after expenses.

What we need to do as a country is to get away from production taxes and towards consumption taxes. This is an easier and more fair tax than front-loading companies and people with taxes on income. If you want a totally fair tax, base it on consumption not production.

It's really no wonder corporate america is leaving when they simply want to reduce cost, which income tax is a part of. For people, you can give the average citizen an INSTANT 20% boost in their income by getting rid of income tax. That 20% for the person = money to save and spend. Where? In the economy! It also reduces overhead for companies, who can now translate the elimination of payroll taxes into an instant additional amount of money freed up for other things.