HP CEO Carly Fiorina schools Democrats on Economics

Obama wants to eliminate tax breaks to companies that ship jobs overseas. Former HP CEO now McCain backer Carly Fiorina explains to George Stephanopolous why corporations keep profits overseas.

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[turnrob]

CARLY FIORINA Distroyed HP! Do your own research. She is a corprate snake. I HOPE SHE WINS THE VP BID because it will cement John McCains eventual defeat.

[HemiHead66]

I seem to Remember Reagan giving massive tax cuts for the top. And he left us about 2.3 in debt between those cuts and spending. And what about Bush's massive tax cuts for the top? Bush outsourced millions of jobs on his watch. In fact, those Repukes are still trying to get Obama to pass those corrupt trade deals between Panama, Columbia & South Korea. And they know it'll pound the shit out of American workers if they're passed. This is all bullshit. Just another Lying greedy CEO..

[daveharpe]

Carly seems to be admitting that we Americans pay more taxes than Sweden. Surprise, surprise,surprise!

[NorthStar326]

What is frightening is that George actually looked surprised at the factual truth. This is the problem with most Americans...they really don't understand Economics 101 and the engine of competition being an on-going battle. Unions drive up cost, when our labor laws protect employees from unethical or unfair employers. Higher costs mean lower profits. Lower profits mean the company EITHER needs to raise its prices (and risk losing competitive battle) OR it needs to send jobs overseas 2 save $

[jjrglobal]

@sdavis3398

Do you get a check from the government?

Because thats the only reason anyone would be for higher taxes on anyone. Poor people dont employee anyone and government produces absolutely no consumer goods.

[jjrglobal]

@gramcrocker

Hey dumbass, corporations dont pay taxes anywhere in the world, they never have and never will, they pass them onto the consumer by raising the price of the goods and services they produce. They MUST do this in order to stay in business. Companies could be manufacturing in the US, there stuff would just be priced higher, or their quality would have to be lower, because of higher taxes So who do you work for?

[zigzagzoo12]

Why do so many liberals regurgitate the Boxer attack Ads? Even if I were to agree with them, although I know they are not correct since HP is and has been the top PC/server maker in the world. I don't know about you, but for me it's an easy choice between picking someone who ran a state and a country into the ground (Boxer) and someone who supposedly "ran a company into the ground". Anyways, HP would not have Carly's bio on their homepage if she "destoryed" the company.

CARLY FOR SENATE!

[the1yage]

I can't believe these damned companies have gotten sovereign states and nations to compete with each other for the companies' favor. U.S. corporations (with some exceptions) only exist b/c state law provides for their existence. Talk about the tail wagging the dog. It's just disgusting to listen to these corporate folk, who think their "Who Moved My Cheese" bullshit is part of the fabric of the universe.

[gramcrocker]

You got it right turnrob. She is saying a corporation should not have to pay taxes. It is the old "the rich get richer and the poor get poorer" thing. If you make the rich a little richer, well then, some of it has to trickle down philosophy.

[LexPhilogus]

@sdavis3398 "Overseas manufacturing is about cheap labor"

That's true but taxing profits and closing loopholes won't affect this at all. Those countries will still have cheap labor. You're an idiot if you think don't think European companies don't offshore.

[LexPhilogus]

Hong Kong doesn't have a VAT and Singapore's is in the single digits historically. The Canadians pay about a 13% VAT.

So your solution is make America much less competitive than other countries, and hence the outcome I described. Suddenly Europe looks relatively better, and Hong Kong, much better.

Carly simply sees lower rates as being more competitive, and clearly you missed that.

[sdavis3398]

@LexPhilogus Um, no she was not talking about incentives of investors, Lex. She was asked about corporate tax policy.

The US does indeed have higher corporate taxes than other nations...true....ONLY if you ignore their VAT of 20%! The US has no VAT, of course, so our all-in corporate taxes are typically lower. The issue comes from the unavoidability of paying VAT and not wanting to pay taxes on profits here. Overseas manufacturing is about cheap labor and zero pollution controls. Fool.