Intel CEO: "Jobs will not be created here" and says Obama's to blame.

[AllieBaba]

"Unless government policies are altered, he predicted, "the next big thing will not be invented here. Jobs will not be created here."


"Intel CEO Paul Otellini, who warned this week that the U.S. faces a huge tech decline.

"(Credit: Intel) The U.S. legal environment has become so hostile to business, Otellini said, that there is likely to be "an inevitable erosion and shift of wealth, much like we're seeing today in Europe--this is the bitter truth."

"Not long ago, Otellini said, "our research centers were without peer. No country was more attractive for start-up capital... We seemed a generation ahead of the rest of the world in information technology. That simply is no longer the case."


Intel CEO: U.S. faces looming tech decline | Politics and Law - CNET News

Gosh, exactly what was predicted. Imagine that.

 

[Shogun]

You didn't read that whole page, did you?

 

[uscitizen]

L:MAO.

Obviously she cut off the article at just the right point.

 

[blu]

alliebaba is by far the biggest clown this forum has

 

[uscitizen]

Allie self skewerd herself really well on this one.

 

[blu]

@ the OP

 

[uscitizen]

This is what IMMEDIATELY follows what allie posted in the opening post:



The phenomenon of technology executives advancing dismal predictions and offering pointed critiques of Washington politicking isn't new, of course.

For instance: In 2005, midway through the Bush administration, Microsoft's Bill Gates told a Washington audience that curbs on immigration and guest workers would provide a boost to research institutions in China and India. A year earlier, then-Intel CEO Craig Barrett warned that the U.S. must dramatically improve its education system.

That never happened. Nor did politicians follow Gates' advice to rethink laws that led to foreign engineers being kicked out of the country as soon as they finish their degrees.

 

[eagleseven]

Intel CEO: U.S. faces looming tech decline | Politics and Law - CNET News

Intel chief executive Paul Otellini offered a depressing set of observations about the economy and the Obama administration Monday evening, coupled with a dark commentary on the future of the technology industry if nothing changes.

Otellini's remarks during dinner at the Technology Policy Institute's Aspen Forum here amounted to a warning to the administration officials and assorted Capitol Hill aides in the audience: Unless government policies are altered, he predicted, "the next big thing will not be invented here. Jobs will not be created here."
Intel CEO Paul Otellini, who warned this week that the U.S. faces a huge tech decline.

The U.S. legal environment has become so hostile to business, Otellini said, that there is likely to be "an inevitable erosion and shift of wealth, much like we're seeing today in Europe--this is the bitter truth."

Not long ago, Otellini said, "our research centers were without peer. No country was more attractive for start-up capital... We seemed a generation ahead of the rest of the world in information technology. That simply is no longer the case."

If we lose our tech edge, what will we have left?

 

[Modbert]

While he has some legitimate points as Bill Gates did about how the guest worker program is broken.

The rub: Ninety percent of that additional cost of a $4 billion factory is not labor but the cost to comply with taxes and regulations that other nations don't impose. (Cypress Semiconductor CEO T.J. Rodgers elaborated on this in an interview with CNET, saying the problem is not higher U.S. wages but anti-business laws: "The killer factor in California for a manufacturer to create, say, a thousand blue-collar jobs is a hostile government that doesn't want you there and demonstrates it in thousands of ways.")

"If our tax rate approached that of the rest of the world, corporations would have an incentive to invest here," Otellini said. But instead, it's the second highest in the industrialized world, making the United States a less attractive place to invest--and create jobs--than places in Europe and Asia that are "clamoring" for Intel's business.

Bullshit. It most certainly has a great deal to do with wages and regulations. They go to Asia partly because many countries there have little to no regulations. Plus, the majority of U.S Corporations don't even pay a dime in taxes.

 

[Mr Natural]

Intel CEO: U.S. faces looming tech decline | Politics and Law - CNET News

Intel chief executive Paul Otellini offered a depressing set of observations about the economy and the Obama administration Monday evening, coupled with a dark commentary on the future of the technology industry if nothing changes.

Otellini's remarks during dinner at the Technology Policy Institute's Aspen Forum here amounted to a warning to the administration officials and assorted Capitol Hill aides in the audience: Unless government policies are altered, he predicted, "the next big thing will not be invented here. Jobs will not be created here."
Intel CEO Paul Otellini, who warned this week that the U.S. faces a huge tech decline.

The U.S. legal environment has become so hostile to business, Otellini said, that there is likely to be "an inevitable erosion and shift of wealth, much like we're seeing today in Europe--this is the bitter truth."

Not long ago, Otellini said, "our research centers were without peer. No country was more attractive for start-up capital... We seemed a generation ahead of the rest of the world in information technology. That simply is no longer the case."

If we lose our tech edge, what will we have left?

An empire and a war machine.

 

[Shogun]

where did she go?

 

[Modbert]

Threads Merged

 

[Modbert]

where did she go?

Probably off to wish more terrorist attacks on Americans.

 

[eagleseven]

Plus, the majority of U.S Corporations don't even pay a dime in taxes.

Corporations only pay taxes on profits. Hence, tax income drops during recessions, as most corporations cannot turn a profit.

 

[boedicca]

This is what IMMEDIATELY follows what allie posted in the opening post:



The phenomenon of technology executives advancing dismal predictions and offering pointed critiques of Washington politicking isn't new, of course.

For instance: In 2005, midway through the Bush administration, Microsoft's Bill Gates told a Washington audience that curbs on immigration and guest workers would provide a boost to research institutions in China and India. A year earlier, then-Intel CEO Craig Barrett warned that the U.S. must dramatically improve its education system.

That never happened. Nor did politicians follow Gates' advice to rethink laws that led to foreign engineers being kicked out of the country as soon as they finish their degrees.

You Moonbats need to get your stories straight. Which is it: are we OUTSOURCING jobs to India and China, or importing their workers?

 

[Modbert]

Corporations only pay taxes on profits. Hence, tax income drops during recessions, as most corporations cannot turn a profit.

They were paying no taxes long before the recession.

Majority of corporations avoid federal income taxes - study - Aug. 12, 2008

NEW YORK (CNNMoney.com) -- Nearly two-thirds of U.S. companies and 68% of foreign corporations do not pay federal income taxes, according to a congressional report released Tuesday.

The Government Accountability Office (GAO) examined samples of corporate tax returns filed between 1998 and 2005. In that time period, an annual average of 1.3 million U.S. companies and 39,000 foreign companies doing business in the United States paid no income taxes - despite having a combined $2.5 trillion in revenue.

 

[eagleseven]

They were paying no taxes long before the recession.

Majority of corporations avoid federal income taxes - study - Aug. 12, 2008

Which means that companies were then paying greater salaries (thus increasing personal income tax proceeds) and/or investing in corporate equity, increasing their stock price/dividend rate (and thus increasing capital gains tax proceeds).

Most federal taxes are hidden from view, but are there, if you know where to look.

Corporate accounting 101.

 

[boedicca]

Corporations only pay taxes on profits. Hence, tax income drops during recessions, as most corporations cannot turn a profit.

They were paying no taxes long before the recession.

Majority of corporations avoid federal income taxes - study - Aug. 12, 2008

NEW YORK (CNNMoney.com) -- Nearly two-thirds of U.S. companies and 68% of foreign corporations do not pay federal income taxes, according to a congressional report released Tuesday.

The Government Accountability Office (GAO) examined samples of corporate tax returns filed between 1998 and 2005. In that time period, an annual average of 1.3 million U.S. companies and 39,000 foreign companies doing business in the United States paid no income taxes - despite having a combined $2.5 trillion in revenue.

That's a load of hooey. The corporations certainly paid a great deal in SS and Medicare taxes - as well as the plethora of exercise, sales, and use taxes embedded into nearly everything they purchase. And then there's the little detail that their employee base pay a great deal of income taxes, which are borne by the corporations' cost structures.

 

[Toro]

Some of this is overblown. I heard the same thing in 1993.

BUT ...

It is foolish to ignore what CEOs say. They are the ones who ultimately make the decisions on capital expenditures. Many CEOs have been saying the same thing over the past year.

HOWEVER ...

Even if the corporate tax rate was 0% and there were zero regulations, the economy would still be in the tank because there is excess capacity and too much debt. Until we work through both of those, economic and job growth is going to be anemic. It doesn't matter what the CEOs say. This is a massive structural problem beyond what the government can do. The government might be able to mitigate these problems a little and work through these problems a little faster, but they can't alter the fundamental problems.

 

[AllieBaba]

where did she go?

Probably off to wish more terrorist attacks on Americans.

Still waiting for that link, odbert.