The entire tech industry was scocked when US President Barack Obama annouced that there will be higher taxes for US companies that send jobs overseas. The new plan proposed by Obama would generate about $190 billion USD over the next decade for the US government. Though this may be a good news for US citizens, it's definitely not a good news for everyone. The plan, if approved may lead to serious problems to many companies in the US and to many other companies outside the US. Since the major source of revenue for many companies in developing countries is through outsourcing, this plan may put a lot of such companies in jeopardy.
While the plan still remains a mystery, Microsoft's CEO, Steve Ballmer on a recent interview has said that, “It makes U.S. jobs more expensive. 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.” The statement is a direct attack on Obama's plan and a bold move from Microsoft. However, Microsoft is not alone in this, companies like Symantec Corp, Bentley Systems, an Exton and a few more also opposed the tax proposals in the roundtable discussions held on June 3rd. While Microsoft's voice has really given hope for all those companies in fear, only time will tell if this will have any effect on the congressional approval of the plan. Hit on the read link for the actual news on Bloomberg.com.
Read - Ballmer Says Tax Would Move Microsoft Jobs Offshore
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