Ballmer Says Obama Tax Would Move Microsoft U.S. Jobs Offshore

Discussion in 'Economics' started by ASusilovic, Jun 3, 2009.

  1. June 3 (Bloomberg) -- Microsoft Corp. Chief Executive Officer Steven Ballmer said the world’s largest software company would respond to higher taxes on U.S. companies’ foreign profits by moving some employees offshore.

    “It makes U.S. jobs more expensive,” Ballmer said in an interview regarding the Obama administration’s proposals. “We’re better off taking lots of people and moving them out of the U.S. as opposed to keeping them inside the U.S.”

    President Barack Obama on May 4 proposed outlawing or restricting three techniques offshore companies would otherwise use to save an estimated $190 billion in taxes over the next decade. The proposal has drawn the ire of business groups such as the National Foreign Trade Council, the U.S. Chamber of Commerce and the Business Roundtable.

    Outsch !