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Obama falls out of favor with tech execs
SFGate.com ^ | 10/17/12 | Andrew S. Ross

Posted on 10/17/2012 10:52:00 AM PDT by NormsRevenge

Add tech executives to the list of the well-heeled who have fallen out of love with President Obama.

Two-thirds of them think his re-election would not be the best thing for their industry, and would prefer to see Mitt Romney in his place. However, three-quarters of them don't think they'll get their wish, according to a survey by the tech-heavy law firm DLA Piper.

How the tables have turned. In 2008, close to 60 percent of tech leaders in a similar DLA Piper survey said Obama "would have a more positive impact on technology development and investment" than his opponent, Sen. John McCain.

It's not that Obama has squelched tech development and investment during his first term, the survey suggests. In fact, the "overwhelming" majority of those surveyed project their sales to increase, with half saying they plan to hire more staff over the next 12 months.

"Despite challenges, technology leaders are optimistic and forward-looking by nature .."

It's just those pesky taxes that get in the way. Sixty percent of the 250 respondents think the expiration of the Bush-era tax cuts for those making more than $250,000 a year will "negatively impact" tech investment (though it didn't seem to hurt when the higher tax rates were in effect during the Clinton administration).

Of even greater concern are the rhetorical hits the private equity industry, taxed at a 15 percent rate, has taken lately. Two-thirds of those surveyed believe the focus has "damaged" the industry - that includes venture capital - and "will result in more regulation."

Two other specific products of the Obama administration causing deep unhappiness in tech-executive ranks: "Dodd-Frank requirements" and "cost of legislated health care requirements."

One can only sympathize with these executives who have joined the ranks of the newly oppressed.

(Excerpt) Read more at sfgate.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; Politics/Elections
KEYWORDS: falls; favor; obama; survey; techexecs

1 posted on 10/17/2012 10:52:01 AM PDT by NormsRevenge
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To: NormsRevenge

I agree, today I was in meeting room with 15 other Sr. level IT crowd. Discussion started with yesterday’s debate and all of them will be voting for Romney. In 2008, all of them voted for Obama.
Everyone was saying, its no-brainer.


2 posted on 10/17/2012 11:04:28 AM PDT by jennychase
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To: jennychase

Thought it was a no-brainer four years ago.


3 posted on 10/17/2012 11:07:17 AM PDT by Maryland Man
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To: NormsRevenge

Any polls out from Silicon Valley?


4 posted on 10/17/2012 11:07:58 AM PDT by Trapped Behind Enemy Lines
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To: jennychase
Everyone was saying, its no-brainer.

You excepted of course, but with all due respect, if all of those people voted Obama in 2008, then it tells me that indeed there's "no-brain" among them.

In fact, I'd say those SOB's are partly responsible for the mess this country is in today, and by God, I don't want them anywhere near the levers of anything, much less industry!

5 posted on 10/17/2012 11:10:10 AM PDT by sam_paine (X .................................)
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To: Trapped Behind Enemy Lines

The tech industry is notoriously leftist/libertarian (same difference). They got what they bought in California and are now whinning like little girls about it. They are so smart.


6 posted on 10/17/2012 11:11:28 AM PDT by SaraJohnson
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To: NormsRevenge

They missed out on the Solynrda style shakedown racket, now they’re pissed off that they missed out on the cash dump. Make no mistake, it was straight up government sponsored cash laundering.


7 posted on 10/17/2012 11:13:08 AM PDT by factoryrat (We are the producers, the creators. Grow it, mine it, build it.)
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To: SaraJohnson

>>>The tech industry is notoriously leftist/libertarian (same difference).
Majority of them came from Socialist countries and those who are from USA, prefer to wear different color socks, ponny tail, unwashed ....

Voting for Romney is very important. In my office, people don’t hesitate displaying Gay rights message, Legalize Weeds.


8 posted on 10/17/2012 12:06:48 PM PDT by jennychase
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