Updated Feb. 18, 2013 at 8:00 a.m.

Premium Lock Cisco CEO to U.S.: Change tax policy or no new jobs

Published: 2013-02-18 07:57:00
Updated: 2013-02-18 08:00:57

John Chambers John Chambers, chairman and chief executive officer of Cisco Systems. Photographer: Victor J. Blue/Bloomberg

Overlooked in Cisco's discussion of earnings last week was Chairman and CEO's John Chambers making a threat to Congress and President Obama: Lower U.S. taxes or he won't hire - even buy - companies in America....

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Glad Kennedy's inaugural speech is used to explain things to John...Cisco CEO is one of the biggest crybabys. Do not tax corporation...corporation do not pay taxes...consumers do...end corporate tax start sales tax on most things except food
Please refer to the episode of 20/20 that aired a couple of years ago about this. This is not new news. Cisco and many other major corporations have store fronts overseas (and in some cases just a mailbox) simply to avoid the outrageous corporate tax rates here in the U. S. At that time Cisco alone was paying millions of dollars in corporate taxes to a foreign country, as I recall to Switzerland, at a rate of 12%. The Cisco CEO clearly stated on that program that he would bring it all back to the U. S. if the rate was lowered to 20%. It's a financial no-brainer really, and it's legal. It is our government who is greedy. So here's the question to the government: Would you prefer to have 20% of billions .. or 35% of nothing?
Chambers doesn't care about anything except how much he and his gang of thieves get from their Cisco stock.
He may be a brat, but he's a smart brat. Why bring that money home only to be wasted by our government brats? They would rather bring it back and sink it into the economy (of which is exclusice of the government black hole). To call it un-patriotic means you are a fully engaged citizen of the welfare state. Taking that money from Cisco, et al, is the same, some levels removed, as taking it out of the citizen's pockets. 40-60 billion is a drop in the bucket to Obama. He already spent that on Sandy victims. These companies would do something that creates a return. But, if you don't understand that, you are a loss, anyway.
Chambers is one of the WORST examples of a CEO, ever. What a brat as well.
These people are not "loyal Americans". They are only loyal to their own bank accounts. They do not care about their country or those that live in it. It's time to revive this mentality : Ask not what your country can do for you. Ask what you can do for your country.
Yeah Cisco has already emptied Bangalore into Morrisville. Guess Chambers can start hiring in Bangalore again. I quit Cisco. Was a good company. Now..its good...for H1Bs...not so much for citizens.
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