“Obama needs to evaluate the economy and realize that the tech sector is being impacted heavily by laws that punish them for operating in the U.S. instead of encouraging them to expand their businesses here,” Reisinger writes. “If he doesn’t, the entire industry could be left in a dire position.”
“For once, a U.S. president since Ronald Reagan needs to protect the interests of our businesses. In order to do that, President-elect Obama needs to ensure that government funding is being put in the right places to help the tech industry stay on top,” Reisinger writes.
“Obama needs to ensure that the Research and Development tax credit stays permanent and government grants needs to be given to innovators to help the U.S. take a leadership role in important sectors in the industry, like nanotechnology,” Reisinger writes.
“More importantly, Obama needs to realize that imposing significant taxes on companies simply won’t solve any of our economic troubles,” Reisinger writes. “The technology industry is one of the most important sectors in our economy, but if he decides to tax major firms even more, we can expect one outcome: the tried and true dictum that companies don’t pay taxes will rear its ugly head once more and prices industry-wide will rise. And when that happens, we can expect even worse financial results from major companies in the industry and the possibility that many of those firms will move their operations overseas to protect their financial interests.”
Full article here.