Steve Jobs has truly become an iconic figure in the world of technological entrepreneurship. His is a life full of inspiring twists and tales. So it doesn’t come as a surprise when President Obama, in his State Of The Union address, said that American should support every such person who wishes to become an entrepreneur and the next Steve Jobs. However, some analysts have criticized this statement, saying Jobs shipped out a lot of jobs to other countries such as China where labor is cheaper.
President Obama, in his speech, repeated pointed out to the huge amount of taxes American companies have to pay when they manufacture their hardware locally. In a way, this showed that Obama did understand why Jobs shipped thousands of jobs overseas – to have minimum taxes. And that was understandable, Obama’s speech suggested. He said, ”
“Right now, companies get tax breaks for moving jobs and profits overseas. Meanwhile, companies that choose to stay in America get hit with one of the highest tax rates in the world. It makes no sense, and everyone knows it.”
As the talk of SOPA raged through the last few days, many had said that such a bill will greatly diminish the pace and spirit of entrepreneurship in America. But now, in his recent speech, it seems like Obama is set to dispel this notion and to encourage aspiring entrepreneurs and companies to gear up their efforts without the fear for taxes,
“After all, innovation is what America has always been about. Most new jobs are created in start-ups and small businesses. So let’s pass an agenda that helps them succeed. Tear down regulations that prevent aspiring entrepreneurs from getting the financing to grow. Expand tax relief to small businesses that are raising wages and creating good jobs. Both parties agree on these ideas. So put them in a bill, and get it on my desk this year.”
So does this really mean we can see a mushroom growth of more entrepreneurs in US and maybe the development of jobs natively rather than shipping them abroad? If this speech was not just a play of words for the upcoming elections, and if President Obama really wants to realize his vision of change, then we can hope so.
Image courtesy Intel Photos.