The U.S. tax code has made it "all too easy for a...small number of individuals and companies to abuse overseas tax havens, to avoid paying any taxes at all," the president said. "And it's a tax code that says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York."
Wall Street Journal (link here for subscribers)
May 5, 2009
Obama raised the specter of "India" which in populist circles is code for. . . .actually it's not code. It has no hidden meaning. It explicitly means greedy corporations employing non-unionized cheap foreign drones to screw 'merican workers. You remember, the bitter clingers. Such were they named, clutching their guns and bibles, at least when Obama was running for office. I'm confident his view of flyover country's mass unwashed has changed now that he's in office.
I could easily write an essay about the virtues of "outsourcing." You know, how all organizations that hire another have "outsourced." How hiring the best workforce one's budget allows is what profit seeking companies are supposed to do. How a business often needs to be in physical proximity to its foreign customers. How a global footprint is smart financial and operational risk management. How commercial ties strengthen and enhance diplomatic relationships. Tax avoidance is a big reason, no s&!t. But I realize those arguments mean nothing to the guy who lost his job and to that portion of the elected class inclined to stoke resentment for their crass power grabs. So I'll hold off on the essay, but will ask one question:
If Obama really is smarter and better tempered than the garden variety donkey or elephant, instead of fanning resentment's flames, why not propose lowering the tax burden on the job created in Buffalo instead of raising it on the one created in Bangalore?
*sarcasm alert
