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

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

Thanks again Obama for F***ing over he country.. I wish I was Canadian...

2real nailed it on the head

Obama is a screw up and so was Bush. Screw the government...best country in the world my ass.

@2real
Learn to read. He wants the U.S. economy to be strong. That requires businesses being able to cost effectively do business. Stock holders want a business to do well for stock values and dividends. Keep in mind stick holders are people trying to save for retirement, 401k plans and many retirement funds.

So if building a plant in the U.S. is more cost effective they will and that makes jobs. Not rich getting richer, everyone being better off.

Heaven forbid they got to pay taxes, and make sure they dont pollute. Im pretty sure with the prices Intel charges, they can afford 1 billion.

If they cant tax you, they'll just sue you for anti trust violations

I normally don't like Intel's business practices, but he makes a good point (read the CNET article for more elaboration). He's not talking about the pressure from the FTC or anything like that. He's talking about the ridiculous taxes and laws that various governments (federal, state, local, etc..) setup that hinder business rather than promote it.

Remember that Simpson's episode where they were going to film the Radioactive Man movie? The town drove away the movie producers because they started taxing EVERYTHING. Well, that might have been fiction, but lots of communities behave that way. Microsoft would be located in Albuquerque today if it weren't for stupid tax laws in place when Bill Gates used to live there.

Some small county sees a big corporation and doesn't think "wow, thanks for all those jobs you provide, pumping in money to people's pockets which then gets spent at other shops, benefitting all of us". No, they think "how can we get more of those millions to fund important projects like gold-plated toilets in City Hall and putting up new fancy lights on Main Street to replace those old, drab, yet fully functional lights we already have?"

My uncle incorporated his business a few years ago. His single largest expense (more that wages, resources, anything) was hiring a business lawyer to make sure he complied with all the ridiculous laws (and he incorporated in Delaware, which was supposed to make it easier).

The days of forming a company in your mother's garage are done for. Heck, if you try to sell anything out of her garage, the local police would probably bust your ass for zoning violations. That's the main reason you hardly see lemonade stands anymore, them kids ain't got the right permits.

SOx SUCKS!

Actually Otellini is 100% right.

The claim of corporate greed is tired at best...

Businesses run where they can make money. As a publicly owned company (Intel) it is THEIR JOB to turn a profit. Expecting them to stay in the US from loyalty is not reasonable in a global world economy. It would be nice, but not reasonable.

So he is spot on....

Lets not forget we need to revamp the copy right system. that in itself is a huge hindrance to developing new technology.

Or all company's will slowly become rambus.

Yes, this guy seems to think about the bottom line, but the fact still remains if this is true. Not enough jobs in the US because companies pay too much in taxes, the poor will get poorer anyway.

Not to mention I haven't paid a single dime to the IRS since I've entered the workforce. All that income tax? I got that back because I wasn't in a high enough tax bracket. And with enough know how, you could still reclaim a lot of your money that the government took.

So complaining that I now suddenly have to pay taxes just so I have the possibility of getting a (possibly better paying) job when I pay nothing to the Man sounds like a slap on the face.

Are you serious? What'd all those tax breaks Bush gave to the big companies do for the economy? It ruined it as you can see by the recession we have now. The move NEVER trickles down to the middle and lower classes. The people at the top just keep the money for themselves. If you can't see that, then wow...

Government only grows one direction (bigger) until it gets taken over or falls apart. That's history. There are a lot of governments in this world getting close to the point of falling apart.

i thought we elected change?

Obviously someone hasn't read anything about the economic crisis. I'm probably pulling this out of my rear but I'm pretty sure there was something called unaccountability and irresponsible spending/loaning involved. Or you could start blaming Apple for conspiracy considering they are one of the few companies that had record profits during the recession.

Global Foundries (fka AMD) is building a fab plant here in the US, practically in my backyard. They worked with the gov't to get some tax breaks, and those breaks will ultimately be offset by a net increase in both income and corporate tax revenues.

As long as they do right by the environment and don't simply try to dump toxic waste somewhere, everybody wins.

Maybe Intel just needs to learn how to negotiate plant deals better. I'm sure they could learn a trick or two from Wal-mart, the demise of western civilization.

It's a business not a charity. You wouldn't want to work for free. Your effort is worth something. They are paying an insane amount in taxes for what? It doesn't assist them in any meaningful way. It merely pumps money into failed government programs. So many people act like it's their duty to be forced under the penalty of imprisonment to fund the government and every one that has a symbiotic relationship with the government. It's not there duty to support
people. Hate the company if you want, don't buy their products if you don't consider them the root of all evil. But using them as uncle money bags is an unacceptable and self destructive practice. And before any body cries Intel fanboy I can assure you AMD and similar feeling on the issue.

The plan is complete. Bush kills our schools, Obama kills our businesses, and Facebook kills our youth. TRIFECTA UNITE!

we did, we got rid of an incompetent republican who dislikes terrorists with an incompetent democrat who lets terrorists do they as they please...that's change!

Obama is not screwing the country. We have had high corporate tax rates for decades. The regulations have been growing for decades. Our wealth has been leaching to Asia for the last 25 years. Obama needs to listen, and help get it fixed. Don't blame him until he doesn't fix the problem.

Thumbs up Mr. Otellini. i remember trying to start a business in St louis and taxes and fees were so high that i couldn't make enough profit to cover them.
I would have made jobs with it and helped people by investing in employees.
I have no problem paying reasonable levels of taxes and taxes being too high is the problem here. One thing people don't seem to understand is when any company or person gets richer they invest that money and the economy and therefore life for everyone gets better.

Yeah his company shifts their profits overseas, as do many fortune 500 companies, to get around these taxes on profits he's is referring to. As far as regulations go Silicon Valley and many other tech hotspots would be uninhabitable if it weren't for oversight. I am aware that the Valley does have superfund sights.

The corporate tax rate may be the second highest, but what is the actual taxed rate? This is something they rarely say because it shatters their own arguments.

Corporations in the US are far stronger than was ever intended. They get free and unfettered access to the COmmons and do untold harm to them without being held accountable or having their damages 'capped' by laws they write themselves and pay congressmen to enact.

All the while they scream for 'laissez faire' what they really want is a government that helps enforce consumers and wealth redistribution to CEO's and upper tier executives so their personal largesse grows while the wealth divide deepends further.

We're already exceeding prior wealth disparity. The American worker makes less in inflation adjusted dollars today than they did in the 70's AND their inflation adjusted expenses are much higher. The stock market is built to benefit mass computer trading and anyone who is not part of Goldman Sachs et al is considered a 'sucker' (Their words, not mine...) because they have stacked the system into being a giant wealth creation machine for the already wealthy while sucking everyone else dry.

So honestly, F&*^ Fiorina and Otellini. Especially Carly... if she;s so great at knowing what is wrong with business why has every business she has had major involvement in cost investors (and employees) jobs and cash?

Corporations want cheaper taxes... SURE Lets stop giving them free unfettered access to the commons. Other nations cheaper? Well I am sorry Intel, we should hop right on board and shift to a political system that is even more corrupt and doesn't mind when you dump poisons into the environment or if you abuse their workers.

And how about you stop abusing the US patent system?

that's because apple is marketed to rich people that can throw around 3000 dollars for a computer that should be worth 800

Please do your research instead of just pulling out talking points. If corporations have more money they use it with new jobs or other investments. Those jobs are most often middle class jobs and without lowering those taxes then those jobs couldn't have been made or worse they might have been lost. The economy boomed during much of bush's years and the collapse was because of irresponsible mortgages mostly not greed.

Bush and Obama are both patsies for the bankers.

Wow, it costs a billion more to make a factory here Paul? That must be rough with Intel being nearly bankrupt and being unable to afford an extra billion in taxes that go to government programs. I heard you're so poor Paul, that you couldn't afford to pledge to donate half your wealth like the Gates and Paul Allen have done.
Feel free to take your factories over to China and build much more affordable factories like Foxconn does. Matter of fact, take your entire business over there and try selling your products to them as well. If you don't want to pay taxes in the US, you certainly shouldn't be trying to peddle your wares over here. I'm sure they'll just stop eating for a year to be able to afford what you charge for one of your processors.

Don't try emptying your pockets to us corporate America, we all know you left your wallet in the car.

@2real
It 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.

Unless you are self-employed, you better be grateful for "corporate greed." I have a job because somebody who already has money is willing to invest that money to make more money. If these people weren't "greedy" I wouldn't have a job and most of you guys wouldn't either. I want a gov that encourages weathly people to invest their money and create jobs in AMERICA. If our gov makes it way easier for these people to invest outside of America, they will.

I'm amazed how so many people don't understand where jobs come from and why we are losing them.

Increasing taxes on the rich when the economy is bad and unemployment is high has to be the dumbest thing I can think of. The rich should be taxed less so they will be encourged to take risks, invest, and hire people to make more money.

Governments, and that they only grow in one direction until overthrown or until they implode on their own is an evolutionary inevitability. Governments are never elected. Governments form when a group of people can come together in great enough number and power to control enough resources to keep the majority of the people down, or at their mercy. Either through violence, (armies) fiscally, (taxes) legally, (laws and regulations). Think of all the great civilizations/governments/empires of the world that have come and gone. Everything reaches a golden age and fades eventually. Nothing not even the mighty U.S. will last forever as a dominant world power, economic or otherwise. The writing is already on the wall, some people are just too dumb to see it, and others throw trillions at the wall to prop it up for a few more years before the whole mess of crap comes tumbling down. There is an inevitability in all this that is very clear to see for those that have eyes to see it. And, Otellini is probably right.

The U.S. has a mountain of debt that's growing every year, unfriendly government policies towards business, and a poor public school system. Not a recipe for a greater tomorrow.