And now for the Truth about Offshoring Jobs ... Mitt didn't know anything about this.

[Cigar]

GOP Blocked Bill to Punish Companies that Move Jobs Abroad

This is about the tax break for offshoring jobs. Senate Democrats proposed the bill to elimiate the tax break; the Republicans, at the urging of the Chamber of Commerce, blocked it:

The Senate voted 53-45 in favor of the procedural motion, but Democratic leaders needed 60 to take the bill up.

Current tax law allows companies to benefit in a variety of ways when they move jobs overseas, including deducting the costs of closing American plants. The proposed bill would have raised taxes on companies that move manufacturing jobs out of the country and provide a tax incentive for companies that decide to bring them back.

Senator Debbie Stabenow, D-MI, said it was an attempt to protect American workers and the bill "sends a simple message: stop shipping our jobs overseas."

But Republicans said they worried the bill could hurt the competitiveness of large American companies that still have a lot of American workers even if they do move some manufacturing plants to nations with cheaper labor.

http://www.cbsnews.com/8301-503544_162-20017896-503544.html


In other words, Republicans (including Scott Brown (http://www.progressmass.org/press/new-study-progressmass-analysis-of-scott-browns-voting-record-reveals-highly-partisan-record-overwhe.html)) said that profits for companies were sacrosanct, even if they were achieved by offshoring jobs.

http://www.examiner.com/article/senate-republicans-block-bill-designed-to-encourage-domestic-job-growth


Hey Mitt ... you been in business for 25 years and don't know about this? :huh: The President of The United States did.

[Peter1469]

GOP Blocked Bill to Punish Companies that Move Jobs Abroad

This is about the tax break for offshoring jobs. Senate Democrats proposed the bill to elimiate the tax break; the Republicans, at the urging of the Chamber of Commerce, blocked it:

The Senate voted 53-45 in favor of the procedural motion, but Democratic leaders needed 60 to take the bill up.

Current tax law allows companies to benefit in a variety of ways when they move jobs overseas, including deducting the costs of closing American plants. The proposed bill would have raised taxes on companies that move manufacturing jobs out of the country and provide a tax incentive for companies that decide to bring them back.

Senator Debbie Stabenow, D-MI, said it was an attempt to protect American workers and the bill "sends a simple message: stop shipping our jobs overseas."

But Republicans said they worried the bill could hurt the competitiveness of large American companies that still have a lot of American workers even if they do move some manufacturing plants to nations with cheaper labor.

http://www.cbsnews.com/8301-503544_162-20017896-503544.html


In other words, Republicans (including Scott Brown (http://www.progressmass.org/press/new-study-progressmass-analysis-of-scott-browns-voting-record-reveals-highly-partisan-record-overwhe.html)) said that profits for companies were sacrosanct, even if they were achieved by offshoring jobs.

http://www.examiner.com/article/senate-republicans-block-bill-designed-to-encourage-domestic-job-growth


Hey Mitt ... you been in business for 25 years and don't know about this? :huh: The President of The United States did.


Good catch. You got it. Obama missed it. :wink:

[KC]

The relevant question is whether outsourcing is an inherently bad thing for the US economy. If it isn't, maybe the Republicans did us a great service by blocking that bill.

[KC]

In the developed world, population grows much more slowly than in the developing world. We have better education and are used to a better standard of living. Outsourcing the low paying jobs from the developed world to the developing world allows for companies in the developed world to employ more people in high education, high paying, quality jobs than they could if they had to pay US manufacturing workers good wages plus benefits.

This reflects economic reality. Just look at Seattle. Microsoft doesn't make manufacture most of its products there but Seattle has become a booming city for the kind of high quality jobs that make our economy strong.

[Chris]

Besides the question if it is a bad thing to offshore, there's this...


This is about the tax break for offshoring jobs.

There isn't. Read your sources more closely, Cigar, there simply isn't a tax break for offshoring.

[Cigar]

Besides the question if it is a bad thing to offshore, there's this...



There isn't. Read your sources more closely, Cigar, there simply isn't a tax break for offshoring.

Maybe you should have someone read it to you ... ?


Current tax law allows companies to benefit in a variety of ways when they move jobs overseas, including deducting the costs of closing American plants. The proposed bill would have raised taxes on companies that move manufacturing jobs out of the country and provide a tax incentive for companies that decide to bring them back.