Feeds

Ballmer clashes with Obama over US tax rules

Threatens to ship MS drones overseas

High performance access to file storage

Microsoft boss Steve Ballmer has threatened to move more US jobs overseas if President Barack Obama refuses to change his stance on ending tax breaks on foreign earnings.

Big Steve told Bloomberg yesterday that US tax rates made jobs “more expensive.”

"We’re better off taking lots of people and moving them out of the US as opposed to keeping them inside the US," he said.

Last month Obama put forward plans to outlaw or restrict about $190bn in tax breaks for offshore firms over the next decade.

Unsurprisingly many business groups in the US have hit out at the proposals, and labelled such a move as “unfair”.

Currently, US tax regulations allow companies to defer foreign profit payments of corporate rates by as much as 35 per cent as long as the cash remains invested overseas, but Obama wants to kybosh those rules.

The newly-installed president thinks such an overhaul of the system would help the US retain jobs, while Ballmer claims it would have a negative impact for workers, as well as hitting Microsoft's bottom line, of course. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.