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The Senate is scheduled to vote today on a bill which makes changes in the tax system to punish companies which move American jobs off-shore and to give tax breaks to those which bring our jobs back.
It's far, far overdue, but the Republican's have vowed to kill it.
Again Obama and Co. missed the boat on this one. Corporate tax rate is already at 35%, tied with the highest of industrialized nations. If they would lower the corporate tax to make the US more business friendly we would see significant numbers of jobs and likely also manufacturing return to our shores. As is this proposed measure is likely to drive more jobs away.
Just as the reduction of the capital gains tax brought in more revenue so would the reduction of the corporate tax bring more business and jobs to the US. As always the aswer for liberal is control and punish, not reward and incentivise. Idiots.
So, you should be willing to work for that, right? After all, as you say, American labor costs have to come down in order for us to be competitive.
Why don't you go first, right now? Why wait? If we're all to be working for third-world wages anyhow, you can be a trend setter who leads the way to back up your rhetoric.
I didn't think so. In reality, off-shoring is someone elses' problem because it hasn't happened to you, isn't it?
Actually I'm in school taking classes to retrain.
In the past year I've seen dozens of my peers get layed off at work.
I saw the writing on the wall in the 90's when programming starting getting offshored.
Offshoring is all our problem. What can I do about it ?
Well, I am retraining and going into business for myself.
I'll be gone from my job within 2 years if I'm not layed off first.
I don't have to settle for a third world paycheck you see.
Originally Posted by workingclasshero
this bill will kill more jobs than save
How?
did you read the post on page 4..#36
The National Association of Manufacturers today sent a letter to U.S. Senators expressing the NAM’s opposition to S. 3816, the Creating Jobs and Ending Offshoring Act. Text:
The National Association of Manufacturers (NAM)—the nation’s largest industrial trade association—opposes the Creating American Jobs and Ending Offshoring Act (S. 3816). Manufacturers are concerned that the bill’s proposed tax increases would impose new costs on American manufacturers, making them less competitive in the global marketplace and jeopardizing U.S. job creation.
American companies with overseas operations support and create U.S. jobs. An estimated 22 million people in the United States—including more than 53 percent of all manufacturing workers—are employed by companies with operations abroad. With more than 95 percent of the world’s customers outside the United States, American companies establish operations abroad in order to penetrate foreign markets and add new customers.
Manufacturers share your concern about the critical importance of job creation. The NAM’s Manufacturing Strategy for Jobs and a Competitive America urges lawmakers to support policies that help ensure that the United States will be the best country in the world to headquarter a company, to innovate and perform global R&D and to manufacture, both for the American market and as an export platform for the world. To this end, NAM supports a national tax climate that does not place U.S. manufacturers at a competitive disadvantage in the global marketplace. Unfortunately, the tax increases in S. 3816 do just the opposite.
The proposed acceleration of U.S. tax on foreign subsidiary operations has no counterpart in the tax laws of our foreign trading partners. Ending deferral in these cases would place U.S. affiliates at a cost disadvantage vis-Ã -vis their foreign-based competitors. At the same time, the potential scope of the disallowance proposal would have an overall chilling impact on the ability of some companies to meet non-tax cost pressures in delivering goods to American consumers.
Recent economic and jobs reports confirm that our economy continues to struggle. The U.S. manufacturing sector — which employs nearly 12 million Americans in relatively high-paying jobs – truly is key to the strength of the U.S. economy. Consequently, we strongly recommend that you consider changes that will make the manufacturing sector more competitive, more productive, and able to create even more high-paying jobs.
The letter was signed by Dorothy Coleman, NAM’s vice president for tax and economic policy.
Sen. Richard Durbin (D-IL) introduced S. 3816 on Tuesday. According to CQ Politics, Senate Democratic leadership has bring that bill to the floor next week rather than vote on any of the major tax provisions that expire at the end of 2010.
The National Association of Manufacturers today sent a letter to U.S. Senators expressing the NAM’s opposition to S. 3816, the Creating Jobs and Ending Offshoring Act. Text:
The National Association of Manufacturers (NAM)—the nation’s largest industrial trade association—opposes the Creating American Jobs and Ending Offshoring Act (S. 3816). Manufacturers are concerned that the bill’s proposed tax increases would impose new costs on American manufacturers, making them less competitive in the global marketplace and jeopardizing U.S. job creation.
American companies with overseas operations support and create U.S. jobs. An estimated 22 million people in the United States—including more than 53 percent of all manufacturing workers—are employed by companies with operations abroad. With more than 95 percent of the world’s customers outside the United States, American companies establish operations abroad in order to penetrate foreign markets and add new customers.
Manufacturers share your concern about the critical importance of job creation. The NAM’s Manufacturing Strategy for Jobs and a Competitive America urges lawmakers to support policies that help ensure that the United States will be the best country in the world to headquarter a company, to innovate and perform global R&D and to manufacture, both for the American market and as an export platform for the world. To this end, NAM supports a national tax climate that does not place U.S. manufacturers at a competitive disadvantage in the global marketplace. Unfortunately, the tax increases in S. 3816 do just the opposite.
The proposed acceleration of U.S. tax on foreign subsidiary operations has no counterpart in the tax laws of our foreign trading partners. Ending deferral in these cases would place U.S. affiliates at a cost disadvantage vis-Ã -vis their foreign-based competitors. At the same time, the potential scope of the disallowance proposal would have an overall chilling impact on the ability of some companies to meet non-tax cost pressures in delivering goods to American consumers.
Recent economic and jobs reports confirm that our economy continues to struggle. The U.S. manufacturing sector — which employs nearly 12 million Americans in relatively high-paying jobs – truly is key to the strength of the U.S. economy. Consequently, we strongly recommend that you consider changes that will make the manufacturing sector more competitive, more productive, and able to create even more high-paying jobs.
The letter was signed by Dorothy Coleman, NAM’s vice president for tax and economic policy.
Sen. Richard Durbin (D-IL) introduced S. 3816 on Tuesday. According to CQ Politics, Senate Democratic leadership has bring that bill to the floor next week rather than vote on any of the major tax provisions that expire at the end of 2010.
Yes, I read that but don't put much stock in it. After all, those are the very companies which have shipping our jobs overseas and the ones which would be affected by this legislation.
What would you expect them to say about it? "Oh, boy! What a great idea?"
It's been pretty obvious since President Obama has been in office the Republican Party's policy has been to do everything politically possible to prevent President Obama from turning the economy around so that they can use it against him to score political points with Conservatives.
And since Republicans are in the minority in both houses, "everything politically possible" is nothing at all.
The real issue is Democrats have no issues to run on. They have been given complete control of government and they have failed miserably.
I am po'd, but it's better late than never, isn't it? Is the fact that they haven't offered it up before justification for rejecting it now?
And, not to mention that the same question could be asked of Republican's on the abortion issue: You had 6 years of uncontested control of Congress and the White House, yet never offered up one, single bill to overturn Roe v. Wade.
If a bill doing that were filed right now, would you reject it too because it could have been done sooner? I doubt it.
Yes, late is better than never, but what sort of jack asses would truly believe some action of the government could help restore our economy and not take that action immediately, and if it fails to pass, try, try again?
Bush caught political Hell for the Iraq War and the faulty intelligence that was used to justify it, but he believed sitting on his hands could have exposed the American people and our troops in Afghanistan to extreme danger. He did what he believed was right without hesitation. You can fault him for being wrong about the WMDs and you can question his judgment, but you can't fault him for following his conscience.
I can fault Democrats for the failed stimulus because it didn't do what it was supposed to do, but I can't fault them for taking action if they actually believed it would help. Because of that, they are without excuse for not bringing this bill up in January of 2009.
As for the bill, I don't know what's in it because I can't get the link to work, so I can't comment on the actual content or if it's paid for per Pay-Go rules.
Roe V. Wade will require more than an act of Congress to overturn the Supreme Court's unconstitutional legislation. Only a Right to Life Amendment would accomplish that, and with America split down the middle on abortion, that won't happen very soon.
Yes, late is better than never, but what sort of jack asses would truly believe some action of the government could help restore our economy and not take that action immediately, and if it fails to pass, try, try again?
Bush caught political Hell for the Iraq War and the faulty intelligence that was used to justify it, but he believed sitting on his hands could have exposed the American people and our troops in Afghanistan to extreme danger. He did what he believed was right without hesitation. You can fault him for being wrong about the WMDs and you can question his judgment, but you can't fault him for following his conscience.
I can fault Democrats for the failed stimulus because it didn't do what it was supposed to do, but I can't fault them for taking action if they actually believed it would help. Because of that, they are without excuse for not bringing this bill up in January of 2009.
As for the bill, I don't know what's in it because I can't get the link to work, so I can't comment on the actual content or if it's paid for per Pay-Go rules.
Roe V. Wade will require more than an act of Congress to overturn the Supreme Court's unconstitutional legislation. Only a Right to Life Amendment would accomplish that, and with America split down the middle on abortion, that won't happen very soon.
The full text of the bill was posted on the 1st page (post #7), but here is also a direct link to the text of the bill.
A vote to move forward or not is scheduled at 11:30 eastern
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