Microsoft Sees Obama Policies as Oppressive

As with every household and every business, if you spend money you don't have, you end up getting in trouble. If you continue to spend money you don't have then you go bankrupt. If you're a government and face the possibility of bankruptcy, you institute confiscatory tax policies and drive business away. Pretty simple, huh?

One of the firms that define the American entrepeneurial spirit is saying enough is enough:

June 3 (Bloomberg) -- Microsoft Corp. Chief Executive Officer Steven Ballmer said the world’s largest software company would move some employees offshore if Congress enacts President Barack Obama’s plans to impose higher taxes on U.S. companies’ foreign profits.

“It makes U.S. jobs more expensive,” Ballmer said in an interview. “We’re better off taking lots of people and moving them out of the U.S. as opposed to keeping them inside the U.S.”

Obama on May 4 proposed outlawing or restricting about $190 billion in tax breaks for offshore companies over the next decade. Such business groups as the National Foreign Trade Council, the U.S. Chamber of Commerce and the Business Roundtable have denounced the proposed overhaul.

In essence, every single business organization is against this blatant attempt to skewer American companies. Pretty soon, the only American businesses that will remain will be those owned by the US government.