Microsoft CEO threatens to move business out of the US

[Mr. Authority]

(Bloomberg) -- Microsoft Corp. Chief Executive Officer Steven Ballmer said the world’s largest software company would move some employees offshore if Congress enacts President Barack Obama’s plans to impose higher taxes on U.S. companies’ foreign profits.

“It makes U.S. jobs more expensive,” Ballmer said in an interview. “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.”

Obama on May 4 proposed outlawing or restricting about $190 billion in tax breaks for offshore companies over the next decade. Such business groups as the National Foreign Trade Council, the U.S. Chamber of Commerce and the Business Roundtable have denounced the proposed overhaul.

U.S. tax rules let companies defer paying corporate rates as high as 35 percent on most types of foreign profits as long as that money remains invested overseas. Obama says he wants to end such incentives to keep foreign profits tax-deferred so that companies would invest them in the U.S.

Microsoft reported an overall effective tax rate of 26 percent for 2008 in its last annual report. “Our effective tax rates are less than the statutory tax rate due to foreign earnings taxed at lower rates,” the report said.

Barry Bosworth, an economist in Washington at the Brookings Institution research center, said many software companies such as Microsoft have exploited tax and trade rules in the U.S. and other countries to achieve a low overall tax rate.

Ballmer Says Tax Would Move Microsoft Jobs Offshore (Update3) - Bloomberg.com

Yeah I'd like to see this fucker TRY to move everyone out of the US. Prick.

[Fluffy]

The m in Microsoft stands for mediocre. Really, I've heard stories from those who once worked at the Redmond campus in Washington. But really, Ballmer's taxes need to go up. His personal taxes, that is. And Microsoft should have to start paying import tariffs on all the stuff they import into the states. Fuckers.

[kingcap72]

Another example of corporate greed/stupidity. The way he talks about moving people out of the U.S. you'd think they were his property instead of his employees.

[IceQueen]

Does anyone really think that they would move people? More like more jobs going offshore. Typical corporations.