It's official.
American citizens and corporations enriching themselves, at the cost of their Government, by using the services of tax havens, like Switzerland, are in for a rough ride.
Similarly, American companies, especially, of the I.
T.
variety, outsourcing jobs to other countries, like India, would not be entitled to tax breaks.
These are some of the measures announced by President Obama on Monday, to deal with the ongoing economic crisis.
Countries that benefit from the above 'sharp' practices of Americans, await, with trepidation, the consequences of the new American initiatives, to practically save the American economy and jobs.
They, of course, believe, that, the existing system, is mutually beneficial to them and to America, if indeed, not more favorable to America!Switzerland would have one believe, that its Banking system is bathed in Dettol every day, to keep it clean; and India would have one believe, that American I.
T.
jobs outsourced to it, in fact, contribute to the stability of the American economy! The truth of the matter is that, both Switzerland and India seek to protect and promote their own interests, regardless of its cost, to the rest of the world.
The same, in fact, holds good, for the United States too, as to the rest of the world.
On balance, the developed countries are more to blame, than the developing ones, for this immorality, as it were.
In the current precarious economic situation, "it is each to his own".
The on-going economic crisis, has illuminated, as never before, the characters of men and nations, concerned chiefly with their own well-being and prosperity, even, or may be, preferably, at the cost of others.
The United States, that claims the leadership of the world, more by crook, than by hook, hasn't set a good example with exhortations of "Buy American" doing the rounds in business circles.
As a matter of fact, this is the time that America should be leading the way, in upholding the principles of free trade and commerce, as the Captain of the capitalist team.
While calling for dismantling of protectionist barriers to trade and commerce, countries around the world are promptly proceeding to rejig laws to favor domestic trade and industry.
With the developed countries like the United States, the United Kingdom, France, etc.
, playing this double game, with practised ease, as it were, the rest of the world would be left with little choice, but to ramp up their own barriers to cross-border trade and commerce.
The question now is how long is this economic crisis going to last?And suppose it lasts for quite a while, what kinds of conflicts might this lead to, both within countries, and between them?Not a very comforting thought.
American citizens and corporations enriching themselves, at the cost of their Government, by using the services of tax havens, like Switzerland, are in for a rough ride.
Similarly, American companies, especially, of the I.
T.
variety, outsourcing jobs to other countries, like India, would not be entitled to tax breaks.
These are some of the measures announced by President Obama on Monday, to deal with the ongoing economic crisis.
Countries that benefit from the above 'sharp' practices of Americans, await, with trepidation, the consequences of the new American initiatives, to practically save the American economy and jobs.
They, of course, believe, that, the existing system, is mutually beneficial to them and to America, if indeed, not more favorable to America!Switzerland would have one believe, that its Banking system is bathed in Dettol every day, to keep it clean; and India would have one believe, that American I.
T.
jobs outsourced to it, in fact, contribute to the stability of the American economy! The truth of the matter is that, both Switzerland and India seek to protect and promote their own interests, regardless of its cost, to the rest of the world.
The same, in fact, holds good, for the United States too, as to the rest of the world.
On balance, the developed countries are more to blame, than the developing ones, for this immorality, as it were.
In the current precarious economic situation, "it is each to his own".
The on-going economic crisis, has illuminated, as never before, the characters of men and nations, concerned chiefly with their own well-being and prosperity, even, or may be, preferably, at the cost of others.
The United States, that claims the leadership of the world, more by crook, than by hook, hasn't set a good example with exhortations of "Buy American" doing the rounds in business circles.
As a matter of fact, this is the time that America should be leading the way, in upholding the principles of free trade and commerce, as the Captain of the capitalist team.
While calling for dismantling of protectionist barriers to trade and commerce, countries around the world are promptly proceeding to rejig laws to favor domestic trade and industry.
With the developed countries like the United States, the United Kingdom, France, etc.
, playing this double game, with practised ease, as it were, the rest of the world would be left with little choice, but to ramp up their own barriers to cross-border trade and commerce.
The question now is how long is this economic crisis going to last?And suppose it lasts for quite a while, what kinds of conflicts might this lead to, both within countries, and between them?Not a very comforting thought.