Editor,
I read the other day that President Obama is trying to eliminate international tax credits on U.S. businesses. The irony is that I read this after a global economics class, so while I’m not an expert, I do take an interest in this kind of stuff. Eliminating international tax credits is a bad idea. The U.S. has one of the highest corporate tax rates in the world, and the way we offset that is by giving companies tax credits when they compete overseas. This allows companies like Intel Corp. and Microsoft Corp. to become worldwide leaders. Eliminating the credits eliminates their chance to compete against China, India and other growing markets. These tax credits were started by Clinton and continued under Bush. Let’s hope that Obama follows their lead.
Brian Bullock
UNM student
