Intel CEO: Things Need to Change in the U.S.

Page 3 - Seeking answers? Join the Tom's Hardware community: where nearly two million members share solutions and discuss the latest tech.
Status
Not open for further replies.
Bullsh*t, US is too much of a corporate bordello as it is. The reason US can't sustain its wealth compared to the rest of the world is that there is no rational basis for the US to be this rich. A plumber or a teacher in the US earns ten times as much as a plumber or a teacher in China or India without being ten times better at what he does.
 
Of course, Germany has much more taxation and plenty of regulation and they are enjoying an export boom. Maybe if Intel was more interested in innovating than protecting market share and milking customers, they wouldn't have to rely on getting a free ride. The fruits of getting rid of regulation are as rotten as the banking/real estate bust and BP's oil spill. We need new ideas, not diatribes Intel.
 
Of course we have the highest taxes! How else would we support all the illegal immigrants, politicians pork projects, massive welfare programs, and union pensions. America is going down in flames.
 
[citation][nom]hankbarron[/nom]Of course we have the highest taxes! How else would we support all the illegal immigrants, politicians pork projects, massive welfare programs, and union pensions. America is going down in flames.[/citation]

You forgot the runaway useless military budget.
 
Im tired of the Hollowood perspective of the world, where every bad thing can be traced to the evile corporation, only certain types of leaders and how all business is trying to destroy the planet with no regard to where we all live.
To think the government is our savior, the little guy is the only "pure" one etc.
Todays business climate in the US is what it is, 2nd most aggressive against business on the planet.
Government claims itll give jobs incentives, and those that believe this tripe also understand that taxes need to go further still, leaving business heading elsewheres.
Otellini's right here folks
 
[citation][nom]Fa11ou7[/nom]@2realIt amazes me how easy it is for the liberals to blame someone else. The current administration has had plenty of time to "fix" things that they didn't like but here we are two years into his term and we're in a "recession". Now we have Obama taxing the crap out of everyone and look where its gotten us... even deeper into the hole with unemployment still climbing. But go ahead and keep blaming the previous administration, at least until someone else comes along and fixes it then you and Obama can take the credit.[/citation]
Liberals hardly have a monopoly on blaming others. Right wing pundits were blaming Clinton and Carter for things that happened 7 years into Bush's term. It's SOP for politicians to blame things on the prior administrations. As far as I'm concerned both parties need to go away and a serious rebuilding needs to take place.
 
@chriskrum

I couldn't have said it better. And do the same for the textile industry, the furniture industry, the clothing industry, the toy industry, ...

China and other developing nations are environmental time bombs. And they're ticking. When they decide to collect on the debts owed them by the US, so that they can afford to feed their citizens, I hope I'm long gone.
 
[citation][nom]maestintaolius[/nom]Liberals hardly have a monopoly on blaming others. Right wing pundits were blaming Clinton and Carter for things that happened 7 years into Bush's term. It's SOP for politicians to blame things on the prior administrations. As far as I'm concerned both parties need to go away and a serious rebuilding needs to take place.[/citation]
you nitwit you don't see economic changes until the next presidency we're seeing the effect of bush's policies right now and the next president will see the effects of obama's policies
 
[citation][nom]chg[/nom]The comments here make me fear for my country.Corporations pay taxes? No, they don't, never have. The taxes go into the cost of doing business which the end customer pay. That's you 2real. So, if the taxes arehigh enough, the corporation cannot charge a price the marketwill bear. So... they go elsewhere to lower the price.It's real simple.[/citation]

WTF? where you been living?!?! your own island in the Atlantic? Last i checked corporations do have to pay taxes to the various levels of the government.

If they dont, then explain to me why my dad lost his job with a city that had GM plant in it that closed down months before. Hmmm.... Maybe because they are tax.......

The city my dad work for lost nearly 40% of it's revenue when the GM plant and all the small business making part for GM left. Most of that nearly 40% came from GM it self. Now it doesn't help that the city is a smaller than average (lets just say the plant building take a big chunk of the city) but anyways point is, Corporations pay taxes to the different levels governments just like you and i do. Learn this as your statement right now means to us you dont understand who's taxed and how much there taxed.
 
Here's the real kicker:

"General Electric filed more than 7,000 income tax returns in hundreds of global jurisdictions last year, but when push came to shove, the company owed the U.S. government a whopping bill of $0.

How'd it pull off that trick? By losing lots of money.

GE had plenty of earnings last year -- just not in the United States. For tax purposes, the company's U.S. operations lost $408 million, while its international businesses netted a $10.8 billion profit.

That left GE (GE, Fortune 500) with no U.S. profit left for Uncle Sam to tax. Corporations typically face a 35% federal income tax on their earnings. Thanks to its deductions and adjustments, GE reported an actual U.S. federal income tax rate of negative 10.5%. It got to add a "tax benefit" of $1.1 billion back into its reported earnings. "

http://money.cnn.com/2010/04/16/news/companies/ge_7000_tax_returns/index.htm
 
lol at supporting Tariffs. So if the US can't compete it should charge random costs on imported goods? There's no reason why the US can't compete on a level playing field.

We just need to:
-Cut spending
-Lower taxes
-End American Empire
-Remove excessive regulation while enforcing fraud laws and property laws
-Get Federal Government out of things not dictated by the Constitution
 
[citation][nom]2real[/nom]so a greedy corporation wants more money... go figure all he wants to do is push the tax burden on the common man... the rich get richer and the poor get poor[/citation]
Bottom line, if politicians don't cut business taxes, people will not invest in the United States. "They'll invest elsewhere," Otellini said.
The problem is that the government want to keep spending and growing like as if it were a business itself and needs to grow to show itself as successful. Fact is, federal government is bloated and has been sticking their noses in places it doesn't belong. (e.g. education should be handled by local government but meet the goals of education as a whole, it should not be micromanaged by federal government) Government needs to stop spending and decrease the need for taxes that way rather than trying to keep up its spending and squeeze more money from the public.
 
Even if there were no taxes to pay, intel would still rather build fabs elsewhere because of cheaper labour.

He's a total hypocrite and intel has been trying to relax laws on immigration to the US so cheaper foreign labour can be employed. Then all you hypocrites would be out of jobs pretty soon.
 
[citation][nom]Enkidu98[/nom]The corporate tax rate may be the second highest, but what is the actual taxed rate? [/citation]


Exactly! Here is a little gem of an article.
Coca-Cola, Oracle, Intel Use Cayman Islands to Avoid U.S. Taxes
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aWoQkk2WY1oc

Granted, did did not give the Intel numbers, but Seagate paid 5% and Del Monte 3% for 2008. Thousands of these multinational corps use loopholes to not pay the 35%. Those of us with small businesses can't get away with half of what these guys to to avoid taxes. At the end of the day we don't want to tax businesses to death, but they should pay their fair share.
 
So, basically the Obama admisitration is to blame for allowing out sourcing. This outsourcing is continuing to happen because it's cheaper to run a factory in a different country.

BUT, on the other hand Bush was no better because he offered incentives to companies to run factories and hire workers outside the US this is the cause of so much outsourcing we have today and why when you call Dell you get someone in India.
 
i've been saying this since libtards got control of the democrats for years. osama obama communist health care is the final nail in the coffin, you can't afford to be a business here unless you have a monopoly or your competition sucks horribly. i see libtard protesting target corp for donating $$ to tom emmer for gov. of minnesota just because republican emmer promises to reduce corporate and property taxes in a state with a 7+% sales tax, we literally have bridges falling down during rush hour traffic here (I-35W and u.s.hwy10/61-I494 and soon the st. hwy 36 bridge to wisconsin in stillwater minnesota) on top of the sales tax is a business and property tax, and on top of those professional sports teams have lobbied minnesota for new stadiums at tax payers expense (UofMinn (american Football) TCF field, MLB Mn. Twins Target field, NHL Mn. Wild Excel Energy Center, these corporations with their names attached out donated some other company for a few million to get their name on each one of the 250million+ tax payer funded stadiums. all 3 stadiums were rejected by Mn tax payers 3 one even 4 times but politicians wouldn't stop because those teams were lobbied with too much cash to ignore for their election funds so now minneapolis saint paul and hennipen county (mpls included) have to pay 1/2% to 1% more in taxes for each stadium 8.5% sales tax rate, not to mention special fuel taxes imposed for the whole state to pay for these stadiums as well. if it weren't for democrat former senator mark dayton living in minnesota (majority owner of Dayton-Hudson corp and parent company of Target) he would have moved else where along time ago. Medtronic and ATK and Allina and United (based in Mn.) are debating moving operations outside of the united states soon. a great many companies have already left Mn. for mexico and china due to costs and taxes, and that was in the 80's and 90's, health care reform is just the next wave, so get ready to wave goodbye to 3 million high paying jobs from just those 3 companies.
 
"to build, equip, and operate..."

Lets see, you pay people to build it, and to operate it.
You pay a US citizen $6.00 an hour in a tiny middle of no-where town and even more in a city.
OR
you can pay $6.00 a day for workers in many other countries.

Is this really a surprise.
Although I can understand it being hard for businesses from a legal standpoint. Frivolus law suits are very common today in the US.
 
meant to say United Health Care sorry, and yes, they want to outsource most of the work to firms in india, so you will be dealing with more AOHELL type customer support
 
[citation][nom]dark_lord69[/nom]"to build, equip, and operate..."Lets see, you pay people to build it, and to operate it.You pay a US citizen $6.00 an hour in a tiny middle of no-where town and even more in a city.ORyou can pay $6.00 a day for workers in many other countries.Is this really a surprise.Although I can understand it being hard for businesses from a legal standpoint. Frivolus law suits are very common today in the US.[/citation]


This "libtard" personally rues the day William Buckley died. There was a conservative who could put together an argument, actually had a thought and a philosophy that was coherent and that he was able to express in an understandable way.
 
That is the true shame. Small Businesses which employ 75% of Americans are the ones who suffer from onerous taxes. Unfortunately they do not have the money to purchase access to federal level politicians. So, people like Otellini, who can afford to purchase politicians continue to benefit from their relatively small purchases (its surprisingly cheap to buy a senator) which really are less than a minor blip in their corporate balance sheets and get huge breaks, discounts, hide their income etc and end up (as was mentioned before) actually getting HUGE tax refunds sometimes in the BILLIONS from the US government (Read... US.. the Taxpayers who are not making billions).

For all these tiny government tea-party pukes etc who decry wealth transfer systems and socialism etc, surprisingly few are aware that it exists and the money they think they are giving to the poor through their taxes goes in a much larger amount to corporations who are not turning around and providing them any services.

Add to this, as I mentioned before, what is a wholesale abuse of our commons, where we give up mineral rights for pennies on the dollar, give free and unfettered access to our infrastructure, our laws, etc and provide corporations with everything they need to succeed at NO COST TO THEM (educated workforce, etc...) they can pay their fair share.

Otellini's argument is tired and old and unfortunately bought into by a culture of Americans who have been taught to buy this 'party line' and follow it religiously without even bothering to look at the real facts or figures. They do this because in many cases they have been convinced that they too have a chance to hit the lottery and get a CEO job and they do not realise that the odds of winning the lottery are often better then ever winning 'Tournament Theory'.

Instead they pump their fists in the air, shouting 'America F*&^ Yeah' and believing in the ultimate superiority of the American Corporate Model and the mistaken belief that we're a 'Capitalist Nation' that will always be #1.

Thanks to Corporations and the politicians they purchase, we're no longer #1 at pretty much anything that matters. Sure, we have a high income per capita, but that number is extremely deceptive as many do not even understand the difference between a median and a mean.

And our Corporate controlled media isn't going to do anything at all to help Americans see or understand the injustices being done to them, by themselves, by continuing to support an economic system that it BUILT to reduce their ability to compete and find themselves wealthy.

What made America great was its social mobility. As a grand experiment we had, at one time, the most vibrant and mobile middle class, where unlike any other nation people were able to better their economic status through hard work.

This has been systematically eroded since 1980. Social mobility only works in one direction now. And the middle classes, the actual engines of the great prosperity we once experienced, are the ones suffering.

Bear in mind, if you will, this includes the Small Businesses that employ 75% of all Americans. These are middle class people who are being pushed out of the markets and social mobility and it is NOT being done by the Government... except insomuch as the Government is acting as an arm of the corporate. For example, the family doctor/general practitioner is a small businessperson, but they are negatively impacted by health care legislation that is BOUGHT buy the corporations to ensure that the HMO, Insurance Industry, etc is best served. In fact, much of our recent health care legislation was actually WRITTEN by these entities and fed to our congress to pass. Both under Obama (Recent Health Care Reform... supported by the industries because it gives them 40 million new clients and the US taxpayer has to pay for it) and Bush (Prescription Drug Plan which has turned into a huge wealth transfer program to the pharma industry) we have seen our government accede to the demands of corporations and put into place laws that benefit them at the expense of the citizen.

Get this.. YOU are giving up your tax dollars to NON CITIZENS. This seems to really rile up the tea party fools when the non citizens might be illegals with anchor babies, but they seem completely blind to the fact when it is a mega-corp who is the non citizen. And I promise you, the Mexican who comes here looking for opportunity is NOT as dangerous to the US as the Mega-Corp that sees a profit opportunity.

And it all comes down to money.

When Bill Clinton ran against Bob Dole, the cost of each campaign was $4,000,000. When George Bush ran against Al Gore, this figure had jumped to $40,000,000. When John Kerry ran against George Bush each campaign had to muster over $200,000,000... in our most recent election between Obama and McCain the candidates campaigns cost over $400,000,000.

This money, mind you, is JUST the direct money in the campaigns themselves. I think you all can look at the rate of inflation and see this amount does not track the same curve. You can also see that this money isn't coming from the incomes of the private citizens.

Looking at other federal level campaign cots, and an eternal election cycle, you can see where the money is coming from and who our government listens to.

It is not a government By, For and Of the people any more. Heck, our courts even rules that Corporations (Who are not citizens, are proven to be not loyal at all to America or her laws that birthed them) have the right of free speech and can spend as much as they want in political campaigns.

Do you think the average person, even when massed as a whole, can afford the political capital it takes to match the financial capital the corporation can put forth without even denting its bottom line?

I said it before I say it again. F%*& Carly and Otellini. They have proven themselves more destructive to the economy and the American way of life then they like to present themselves. They are not defenders of opportunity and truth, justice and the American Way. They are instead sociopaths, running companies who have been granted too many of the appearances and privileges of 'Human' citizenship in a nation. Corporations are not Citizens.

If you or I commit treason we can be put to death. A corporation gives the Chinese the technology to destroy our economy and way of life they are awarded tax breaks and more preferential treatment because they buy some more legislation.

If you or I put together a device that will kill, we will be prosecuted and imprisoned. If a corporation does it, they receive very little punishment at all and can, quite often, build the cost of litigation into the product and still make a hefty profit and never once face life in prison or disincorporation.

This is NOT what our forefathers wanted. It is NOT what Adam Smith envisioned. In fact our laws were some of the most corporate unfriendly in our early history because of the knowledge our forefathers had of the harm a too powerful corporate body could do. Adam Smith wrote of the dangers of a too strong corporate body. And yet our masses, who are interested in reading Adam Smith, or our foundational documents, are all to willing to quote their writers and claim that this is good for everyone.

Wake up. Forget what your business school is teaching you because inevitably it is wrong. It is more likely, the bought and paid for crap they want you to learn and they gave generously to the university to be certain you were taught. How you can become part of a machine that takes and gives you the illusion that you have a chance to be a part of the taking.

Well you are a part of the taking, but you are not a beneficiary.
 
Status
Not open for further replies.