New tax threatens U.S. recovery
Proposed tax hike on international operations could delay economic rebound
By John Chen, chairman and CEO, Sybase
President Barack Obama has proposed to raise taxes on the international operations of U.S. businesses. There is one thing the proposal can effectively achieve: make the United States an even less friendly place to do business, and thus delay the economic recovery.
Chen worries higher corporate taxes will delay recovery of the U.S. economy
The current environment is dire to begin with. The U.S. has the highest corporate tax rate among developed nations. The latest Index of Economic Freedom by the Heritage Foundation ranks us an alarming 125th among 156 countries. We are one of the very few developed countries that still double-tax overseas income of our own businesses. More
