Tech’s Tax Reform Goals Mirrored by Baucus, Camp

Miguel A. Martínez, Jr. photo

Two recent op-eds in California papers reinforce the critical goals of corporate tax reform:  Create jobs and strengthen the American economy.  It doesn’t matter if you are a Democrat from Montana or a Republican from Michigan, a tech company in Boise or an entrepreneur in Austin.  We all would benefit from a modern tax system that levels the global playing field so American companies can compete around the globe, expand investments in their employees and facilities here at home, and develop the next-generation of products and services that can be designed and built here in the U.S.

In a column in the San Jose Mercury News, ITI President & CEO Dean Garfield lays out three key principles for U.S. tax reform:

  • A globally competitive corporate tax rate;
  • A market-based tax system that creates an incentive for U.S.-based businesses to invest their overseas earnings in the U.S.; and
  • Innovation tax incentives to drive new research and development.

 

[A]s source code is the backbone of our information technology capabilities, the tax code is our economy's source code . . . Just as the world's best software needs an upgrade to drive new innovation, our economy's source code needs a major update.  I hope [Senator] Baucus and [Representative] Camp will gain an even stronger understanding of how a modern tax code can magnify the positive impact the tech sector has on the U.S. economy and relay to their congressional colleagues the competitive urgency for action to drive new growth and opportunity for the U.S. economy.

 

Dean is referencing the two-day visit, starting today, to two Silicon Valley companies -- including ITI-member Intel -- by Democratic Senator Max Baucus of Montana and Republican Representative Dave Camp of Michigan.  These men are leading bipartisan efforts in Congress to rewrite the corporate tax code, and they authored their own column in the Orange County Register that reflects similar themes. 

 

Imagine the U.S. economy is a car driving down a highway.  Our goal as a nation is to keep one foot on the gas pedal, and head straight down the road to economic recovery and growth, leading to more jobs and higher wages. 

But our current tax code acts like a wheel out of alignment, slowly pulling the car further and further off-track. There are warning signs across the dashboard, alerting us to the problem, and they are starting to flash with greater frequency.

. . .

And while the U.S. tax code is dragging our economy down, other countries are surging ahead in the global marketplace.  Most of our global competitors have updated their tax laws, but our outdated international tax system actually encourages American businesses to keep profits and jobs outside America.  Because of the U.S. tax code’s complexity and our high tax rates, America is falling further and further behind on the international stage.

These are the warning signs on the dashboard -- we have to fix the car now or risk being left on the side of the road.  For the good of our economy, and for the sake of making the tax code simpler and fairer for families, Congress needs to come together to fix the tax code. 

 

We absolutely agree.  Tax reform is about job creation and economic growth.  It’s about giving American companies the opportunity to compete with businesses around the world on a level playing field.

ITI’s Robert Hoffman will be at Intel for the “Max and Dave tour” visit on Tuesday, and will send his reactions.

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And also, know that for mild to moderate depression, antidepressants help no more than a placebo, research shows (go read the latest newsweek for more on this, or google that topic). For severe depression, antidepressants help only a modest amount, if at all hard to know, because antidepressants are not tested against an active placebo with side effects, so most everyone in these research studies figures out who is on the active drug and who isn't, after awhile. I'll also give you my depression tips, so maybe you can skip the doctor altogether, for all but the most serious depression:Depression tips (PRINT THEM OUT):If your depression is worse in winter, try to get more sun. You may have seasonal affective disorder (SAD) or your depression could be partly seasonal. Use a light box (10,000 Lux (light intensity) at about 20” about ${esc.dollar}300 online, don't get locally, they charge more, you don't need full spectrum, it needs a UV filter, the Sunray is a good brand). I have extra windows,, painted the walls peach yellow have a skylight. There's a link to a cheaper lightbox at psycheducation.org.Try meditation like progressive muscle relaxation or guided imagery. See The Anxiety Phobia Workbook by Edmund Bourne for examples. Free 15 minute guided imagery download at healthjourneys.com.Go out with friends, if you don't have any, join a club MAKE yourself go until you look forward to it. “Isolating” makes depression worse! Exercise 1/2 hour a day, anytime you feel depressed. Exercise is a great mood stabilizer reduces anxiety. LOTS OF RESEARCH SUPPORTS THIS.Insomnia?: Go to bed get up the same time each day, even weekends. Don't use your bedroom to watch TV, read or use the computer. Don't do stuff that revs you up before bed, like exercising using the computer. Light from computer screens TV wakes you up. Use that last hour to wind down-take a bath? Make the bedroom very dark, even cover up the alarm clock. 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Read a novel, watch a comedy, go out with friends, play cards, play a video game, whatever is mentally all-consuming. This is VERY helpful in a crisis!!Volunteer. Research shows that helping others makes you feel better about yourself. It also keeps you more involved in the community. Many people find comfort being involved in religion. Get help from your pastor. Some pastors from conservative faiths don't “believe” in mental illness tell you to go off your meds pray more – don't go to such a pastor for “help” if your faith is like this.Put a half-smile on your face. Changing your expression is proven to help change mood.For chronic severe depression, go to mentalhealthrecovery.com order a ${esc.dollar}10 WRAP (Wellness Recovery Action Plan) booklet – write up your own daily plan to maintain mental health a crisis checklist. Fill out a psychiatric advance directive to protect your rights inform professionals about your care. Links to your state's free PAD at bazelon.org. If suicidal (not just “suicidal ideation,” but I mean, you are impulsive or have a plan), find a community hospital with inpatient behavioral health (see yellow pages). Don't call 911 unless you have already hurt yourself, because if it is just psych symptoms, it is the police that comes they will take you to the closest place that could be a horrible state hospital.Cognitive Behavioral therapy is the most effective kind of counseling. Try free computerized CBT at moodgym.anu.edu.au. Computerized therapy appears to be almost as effective as counseling, research shows.Good luck. I learned this information from classes books.PS if you have an individual plcioy and have had it for less than 2 years (after that, your plcioy is incontestable) you better believe there is a risk that they will try hard to dump you if you need expensive treatment for anything. I'm sure some companies are much worse than others so google around try bad faith as one of your google search parameters. 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