Hindu Statement

Its not a Religious Statement, Its a Cultural Statement!!!

From Bangalore to Buffalo – Obama Style.

My fellow countrymen who have fallen head over heels to Obama, all the global citizens of India, who spent the whole night watching the man take his oath and become the messiah of the world.  I think its high time you follow your man and realise that YOUR nation comes before anything else. First be a citizen of your country and then you can become a world citizen.

I for one was not in awe of this man, rather I was indifferent, I did not care… until now. Now I do have respect for him and his nationalist sentiments. I respect the fact that he thinks that companies, who outsource jobs to other countries, should not be given special tax cuts, for the fact that they are actually moving jobs out of his country. Well whats wrong with his way of thinking?Any person who thinks good for his country would think so too.

I hope that this change in the US will bring some good things to the fore in our country too.

  • Hope we come out of the service mentality and become more product oriented
  • Hope we stop thinking like useless fools in front of the americans and the west in general
  • Hope we put more efforts into R&D and into building things, than exporting raw materials outside and paying higher to import finished products made out from them
  • Hope we try to become a more self sufficient country with products made here in India
  • Hope we become a country which will start outsourcing jobs to the US because we have excess of job oppurtunities.
  • And finally I hope that they also stop outsourcing christian propoganda and stop converting our people.

Well, hope all this dosent remain just a hope. Because our thinking has been moulded in such a way that we disrespect anything that is Indian and go ga-ga over anything alien. But then, the hope remains, like it has been for the last so many decades.

Washington: ‘Say no to Bangalore and yes to Buffalo,’ seems to be the latest mantra of US President Barack Obama as he struggles to bring the ailing American economy back on track.

Meeting one of his major election promises, Obama announced end to years of tax incentives to those US companies which create jobs overseas in places like Bangalore.

Instead, the incentives would now go to those creating jobs inside the US, in places like the Buffalo city – bordering Canada in upstate New York.

“We will stop letting American companies that create jobs overseas take deductions on their expenses when they do not pay any American taxes on their profits,” Obama said at White House announcing the international tax policy reform.

“We will use the savings to give tax cuts to companies that are investing in research and development here at home so that we can jump start job creation, foster innovation, and enhance America’s competitiveness,” Obama said.

The new tax laws are expected to majorly hit countries like India, China and Philippines, where US companies have been outsourcing their work.

Hitting hard at the current taxation system, to which he had been very critical since his election days and as a Senator, Obama said, “It’s a tax code that says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York.”

Reiterating his campaign rhetoric, the US President said, “The way we make our businesses competitive is not to reward American companies operating overseas with a roughly two per cent tax rate on foreign profits; a rate that costs taxpayers tens of billions of dollars a year.”

Obama said he wants US companies to remain most competitive in the world. “But the way to make sure that happens is not to reward our companies for moving jobs off our shores or transferring profits to overseas tax havens,” he argued.

Announcing a set of proposals to crack down on illegal overseas tax evasion, close loopholes, and make it more profitable for companies to create jobs here in the US, Obama said his series of tax reforms would save $210 billion in the next 10 years.

Under new measures, American companies would also have to disclose before the IRS details of the income American citizens are generating in overseas accounts. “For years, we’ve talked about stopping Americans from illegally hiding their money overseas, and getting tough with the financial institutions that let them get away with it,” he said.


May 5, 2009 - Posted by | Current Affairs | , , ,

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