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Vijay Mehta
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xx Obama names Raj Shah to Dept of Agriculture
« Thread started on: Apr 21st, 2009, 9:00pm »

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http://blog.seattletimes.nwsource.com/philanthropy/2009/04/17/gates_foundations_raj_shah_pic.html

April 17, 2009 2:34 PM
Gates Foundation's Raj Shah picked for White House post

Posted by Kristi Heim

Rajiv Shah, the 36-year-old director of agricultural development at the Gates Foundation, was nominated today as an Under Secretary and Chief Scientist within the U.S. Department of Agriculture, according to a White House press release.

PRASHANT PANJIAR

He has been nominated to head Research, Education, and Economics at the USDA, where he would have jurisdiction over food safety issues, energy and climate, agricultural productivity and global food security.

U.S. Agriculture Secretary Tom Vilsack called Shah "a globally recognized leader in science, health and economics ... disciplines that are critical to the missions of this department."

Shah, who joined the Gates Foundation in 2001, previously served as health care policy adviser on Al Gore's 2000 presidential campaign. A native of Detroit, he has a medical degree and a master's degree in economics from the University of Pennsylvania.

Shah is considered one of the Gates Foundation's sharpest executives. His bio is here.

He lives in Seattle with his wife, Shivam, and their two young children. He is a trustee of the Seattle Community College District and a board member of the Seattle Public Library.
« Last Edit: Apr 21st, 2009, 9:01pm by Vijay Mehta » User IP Logged

Greatest threat to Hindu religion comes from Dhongi Baba - Dada - Didi - Swami etc.
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xx Re: Obama names Raj Shah to Dept of Agriculture
« Reply #1 on: May 5th, 2009, 10:16am »

with all Indian appointment we are given impresion that this administraion is India friendly but truth is This administration is seems like Indiaphobic.

just yesterday Obama shamefully sais Banglore is stealing US jobs and tax revenues. what a disgrace , If indians in inthi shigh postion care for mother India , it is time to levae this adminstration or at least educate this young president .
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xx Outsourcing will continue since it is economical
« Reply #2 on: May 5th, 2009, 11:55pm »



Obama's tax plan could push up outsourcing cost 50%
6 May 2009, 0052 hrs IST, Prabhakar Sinha, TNN

NEW DELHI: American firms could see a 50% rise in the cost of outsourcing business processes to India if President Barack Obama's new tax proposals are accepted. Even though outsourcing will still make business sense, industry watchers concede the move could act as a dampener.

Obama has proposed to tax expenditure by US companies on availing services from outside the country from 2011. The move has been proposed to discourage outsourcing and contain the flight of jobs to other countries.

According to Uday Ved, head of global tax consultancy firm KPMG, payments by US companies for services outsourced to India or other countries are treated as normal expenditure and deducted from the company's revenue at present. They are not required to pay tax on that amount.

For example, if a company spends $100 on outsourcing, it will save about $35 as corporate tax, said Ved. So, net outgo of money will only be $65. However, if Obama's new tax proposal goes through, the company will not be able to save the $35. So the net outgo will be $100 instead of $65 - or 53.86% more than the present cost.

However, Aparup Sengupta, chief executive officer of BPO company Aegis, pointed out that American companies save 60%-75% by outsourcing their back office operations to countries like India. The savings are higher if high-end operations are outsourced.

Sengupta said that in general, a service which costs around $48 per seat per hour in the US is accomplished at $11-12 per seat per hour in India. So, US companies save almost 75% by outsourcing their activities to India. The savings in high-end BPO services are even higher as the fixed cost in all the cases remains the same and the only increment is the marginal increase in wages of trained manpower.

Besides the cost arbitrage, the availability of trained manpower will also be an issue in the US, said Sengupta. Particularly in the IT space, there is a shortage of talent in the US. So, regardless of whether the tax is levied or not, US companies will have to outsource to remain globally competitive.


President Obama is president of United states, so his prime responsibility is to look out what is best for US. All the Asian Indians who are working for the Obama administration are also US citizen first and of Indian origin second. I suspect the outsourcing will continue because it makes economic sense and US does not have educated workforce locally, regardless of the tax loophole. This does not make him Indiaphobic! - Vijay Mehta
« Last Edit: May 6th, 2009, 12:02am by Vijay Mehta » User IP Logged

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xx offshore tax cheat are the ones targeted
« Reply #3 on: May 6th, 2009, 12:11am »

http://news.yahoo.com/s/afp/20090504/ts_afp/uspoliticsobamatax_20090504191755

Obama cracks down on tax havens, outsourcing companies
AFP

by Jitendra Joshi Jitendra Joshi Mon May 4, 3:16 pm ET

WASHINGTON (AFP) President Barack Obama Monday rolled out a plan aimed at saving 210 billion dollars over the next 10 years by clamping down on tax havens and curbing US companies' incentive to outsource jobs.

"We are beginning to crack down on Americans who are breaking or bending the rules," Obama said alongside Treasury Secretary Timothy Geithner, vowing that all US taxpayers would start "contributing their fair share."

Ticking off "egregious examples" of tax abuses, the president told reporters the shakeup was "a downpayment on the larger tax reform we need to make" as he battles the nation's worst recession since World War II.

The savings of 210 billion dollars would be used "to reduce the deficit, cut taxes for American businesses that are playing by the rules, and provide meaningful relief for hard-working families," Obama added.

"I want to see our companies remain the most competitive in the world. But the way to make sure that happens is not to reward our companies for moving jobs off our shores or transferring profits to overseas tax havens."

Overall, according to the administration, companies exploit an array of tax loopholes and shady practices to pay an average of just two percent on their foreign profits, costing the US taxpayer tens of billions of dollars a year.

Under the plan, the Internal Revenue Service (IRS) will get nearly 800 new agents to go after offshore tax avoidance.

The reform fulfills one of Obama's key campaign pledges, by ending the ability of US companies to defer taxes on profits made overseas after they shut down facilities at home and ship the jobs to cheaper countries.

Geithner said that with the exception of research and experimentation expenses, companies would no longer receive deductions on their US taxes for their offshore investments until they pay taxes on their offshore profits.

In a statement, the White House said this provision would take effect in 2011 and raise 60.1 billion dollars from 2011 to 2019.

The plan would also close a loophole under which companies can deduct their US taxes from their foreign taxes through a federal credit.

That loophole, Obama said, lets "some of our largest companies tell the IRS that they're paying taxes abroad, tell foreign governments they're paying taxes elsewhere, and avoid paying taxes anywhere."

The White House said closing such loopholes would save 43.0 billion dollars over the next 10 years.

"In addition, our tax system is rife with opportunities to evade and avoid taxes through offshore tax havens," it added, announcing new measures to stop US taxpayers from hiding their accounts offshore.

The measures include ending the ability of US companies to make foreign subsidiaries "disappear" for tax purposes through accounting chicanery.

Instead those subsidiaries would have to be named as separate companies for US tax purposes, raising 95.2 billion dollars over the next decade, the White House said.

"On the campaign, I used to talk about the outrage of a building in the Cayman Islands that had over 12,000 businesses claim this building as their headquarters," Obama said.

"I've said before either this is the largest building in the world or the largest tax scam in the world. I think the American people know which it is."

In line with new action against Switzerland and other havens undertaken by the Group of 20 nations, the plan also clamps down on wealthy Americans who mask their money in foreign bank accounts.

The administration said it would raise 8.7 billion dollars through a "comprehensive package of disclosure and enforcement measures to make it more difficult for financial institutions and wealthy individuals to evade taxes."
« Last Edit: May 6th, 2009, 12:12am by Vijay Mehta » User IP Logged

Greatest threat to Hindu religion comes from Dhongi Baba - Dada - Didi - Swami etc.
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