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Former HP CEO on offshoring profits

American corporations that keep profits earned overseas can indefinitely keep that money out of the country in order to avoid paying American taxes. Former HP CEO and current John McCain campaign spokesperson Carly Fiorina says that gives companies an incentive to develop factories and jobs in markets abroad. Rather than close the loophole, Fiorina says it's better to lower the taxes. But then I have to ask, how will we pay for those wars overseas? I mean, besides slashing the social safety net and borrowing more money from China? The clip above is part of a longer interview with This Week with George Stephanopolous that ran yesterday morning. Her comments on McCain's environmental policy mirrored those made by the candidate at a whistle-stop in Oregon today.

5:20 PM on Mon May 12 2008
By Jackson West
727 views
9 comments

Comments

  • Of course it is better to lower taxes to create an attractive environment. There are lots of other places to park money -- not sure why the US should offer disincentives to parking money here. It is not an accident that places like Bermuda are very nice places.

    Why should corporations pay taxes at all?

  • Manufacturing jobs are never coming back regardless of taxes and Fiorina knows that. The proposal is designed to bolster support in blue-collar states with high unemployment by offering false hope.

    A 60 percent drop in emissions below 1990 levels (but not until 2050) is like proposing a 60 percent growth in corporate earnings based on 1990 levels. Duh.

  • Image of Peteski Peteski at 09:32 PM on 05/12/08 *

    Smiling through explaining 'trickle down'
    over a giant sucking sound.

    @bbucy: +1

  • Jackson West, you fucking commie. Why do you care about paying for things.... it ain't the American way.

  • Image of Nicholas Carlson Nicholas Carlson at 06:54 AM on 05/13/08 *

    Raise taxes too much and eventually it just becomes cheaper to find a way to avoid them. Sure, this seems wrong, but it's reality. Which I prefer to deal with.

  • Jackson, do yourself (and us) a favor, and keep your nose out of politics and economics; two things which you obviously know nothing about....

    Its called Valleywag, NOT Wonkette.

  • Ah yes, the Ice Queen "There is no job that is America's God-given right anymore" Fiorina. I remember years ago when my HP Laptop died and I had to deal with 2 hrs of dealing with broken English following a support center "script". I sent a nasty email to Cruella's address, not even referencing my support case, and got a phone call the next day from a support manager who essentially agreed with me how the situation sucked. Sorta scary.

  • George george george. Honestly journalists are never the best people to interview folks on the economy unless they work for business journals. Still I must profess, I absolutely hate it when conservatives use this arguement cause its so damned true. I hate paying taxes, but damn do I love services. Corporate tax rates are high maybe they can be brought down, but the populace isn't going to want to pay the higher taxes to deal with shortfalls. I prefer the system we have now, where business do the best they can to cheat the tax system by getting all sorts of government deductions. It means that some desired social effect is occuring as a result of them not pocketing their profits. This anti- government crap is going to seriously drive a lot of cost up for individuals that will get down to people who right now who get refunds or don't even pay taxes.

  • Image of Jackson West Jackson West at 07:07 PM on 05/16/08 *

    I'll go ahead and invest my pennies in whatever regime is the most violent, since that seems to be the path to profitibality. Long live the whip!

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