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Old 09-28-2010, 10:24 AM
 
10,854 posts, read 9,327,217 times
Reputation: 3122

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Quote:
Originally Posted by workingclasshero View Post
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-à-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.

S. 3816: Higher Taxes, Damaged Competitiveness, Fewer Jobs « Shopfloor


hmmm this bill is a jobs killer
In the financial industry this is called "Talking Your BooK" of course the National Associations of Manufacturers is going to oppose the bill. The primary interest of the group is to support THE BEST FINANCIAL INTEREST OF MANUFACTURERS.
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Old 09-28-2010, 10:41 AM
 
10,854 posts, read 9,327,217 times
Reputation: 3122
Quote:
Originally Posted by lifelongMOgal View Post
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.
Unless you have an accountant that is an absolute and total idiot very few companies are paying the full 35% rate. There are some many loopholes, depreciation schedules and deductions you'd have to basically fill out a corporate income form and not take any deductions or depreciation in order to pay the full 35%. On top of this many businesses get paid subsides by the government. All you have to do is look at the financial statement of major American corporations and you'll see TAXATION AT ITS CURRENT LEVELS IS NOT SIGNIFICANTLY UNDERMINING PROFITABLITY.

The Bush Tax cuts included Tax cuts for corporations and capital gains reduction. Yet the Bush Administration had the poorest record of job creation of any post World War II presidential administration. Why? A significant amoutn of the profits got reinvested in emerging market countries wtih, strong economic growth and cheaper wages.


Bush On Jobs: The Worst Track Record On Record - Real Time Economics - WSJ
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Old 09-28-2010, 10:54 AM
 
Location: Long Island
32,863 posts, read 19,579,183 times
Reputation: 9647
Quote:
Originally Posted by JazzyTallGuy View Post
In the financial industry this is called "Talking Your BooK" of course the National Associations of Manufacturers is going to oppose the bill. The primary interest of the group is to support THE BEST FINANCIAL INTEREST OF MANUFACTURERS.
not just the manufacturers, but thier UNIONS too

the facts are clear... the dumbocrats continue to push jobs OFF SHORE, as they have been since the mid 90's
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Old 09-28-2010, 12:19 PM
 
Location: Texas
14,076 posts, read 20,586,497 times
Reputation: 7807
It's over. As a couple of other threads note, the cloture motion to cut off debate failed and the bill is dead.

Not surprisingly, NOT A SINGLE, SOLITARY REPUBLICAN voted for this bill. NOT ONE!

They were joined by 4 Democrats, (Tester and Baucus, MT; Warner, VA and Nelson, FL).

U.S. Senate: Legislation & Records Home > Votes > Roll Call Vote

When the next election come, remember which party and which candidates are friends of America and it's workers.

What a tragedy that our corporations will be allowed to continue shipping our jobs overseas with impunity.

And, it's all done in the name of...what? Paying off for those generous donations? Where do The People count in all this?

They don't. The GOP has shown just EXACTLY what they think you.
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Old 09-28-2010, 12:22 PM
 
Location: Long Island
32,863 posts, read 19,579,183 times
Reputation: 9647
bravo..for killing the bill that would have finished america


instead of some stupid bill that DOES NOTHING to stop or save jobs, the dumbocrats want to reward a few, when many are disappearing....what is a 2 year 'holiday' form SS taxes (ss byw is hurting for funds) when the MAX savings would be 6k per year..yet businesses would save at least 20k a year by outsourcing....

.again the dumbocrats forget to think about these things:

get rid of the so called 'freetrade agreements' , eliminiate or lower corporate taxes, and raise/reinstall trade tarffis on imports........

but democrats will never do that, they are bought and paid for by big foreign business
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Old 09-28-2010, 12:22 PM
 
Location: Great State of Texas
86,052 posts, read 84,724,380 times
Reputation: 27720
Quote:
Originally Posted by stillkit View Post
It's over. As a couple of other threads note, the cloture motion to cut off debate failed and the bill is dead.

Not surprisingly, NOT A SINGLE, SOLITARY REPUBLICAN voted for this bill. NOT ONE!

They were joined by 4 Democrats, (Tester and Baucus, MT; Warner, VA and Nelson, FL).

U.S. Senate: Legislation & Records Home > Votes > Roll Call Vote

When the next election come, remember which party and which candidates are friends of America and it's workers.

What a tragedy that our corporations will be allowed to continue shipping our jobs overseas with impunity.

And, it's all done in the name of...what? Paying off for those generous donations? Where do The People count in all this?

They don't. The GOP has shown just EXACTLY what they think you.
Can you point anything in the bill that would have prevented ANY jobs from being offshored ?

Tell me what was in that bill to keep jobs in America ?
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Old 09-28-2010, 12:24 PM
 
Location: Long Island (chief in S Farmingdale)
22,240 posts, read 19,560,171 times
Reputation: 5365
Quote:
Originally Posted by stillkit View Post
It's over. As a couple of other threads note, the cloture motion to cut off debate failed and the bill is dead.

Not surprisingly, NOT A SINGLE, SOLITARY REPUBLICAN voted for this bill. NOT ONE!

They were joined by 4 Democrats, (Tester and Baucus, MT; Warner, VA and Nelson, FL).

U.S. Senate: Legislation & Records Home > Votes > Roll Call Vote

When the next election come, remember which party and which candidates are friends of America and it's workers.

What a tragedy that our corporations will be allowed to continue shipping our jobs overseas with impunity.

And, it's all done in the name of...what? Paying off for those generous donations? Where do The People count in all this?

They don't. The GOP has shown just EXACTLY what they think you.
It was Nelson-NE that voted against it, not Nelson-FL, he voted in favor.
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Old 09-28-2010, 12:25 PM
 
Location: Texas
14,076 posts, read 20,586,497 times
Reputation: 7807
Quote:
Originally Posted by Smash255 View Post
It was Nelson-NE that voted against it, not Nelson-FL, he voted in favor.

You're right and I apologize to Nelson of Florida.
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Old 09-28-2010, 12:59 PM
 
Location: Florida
76,968 posts, read 47,833,023 times
Reputation: 14806
Quote:
Originally Posted by workingclasshero View Post
not just the manufacturers, but thier UNIONS too

the facts are clear... the dumbocrats continue to push jobs OFF SHORE, as they have been since the mid 90's
You mean the same mid 90s when Republicans won majority of both houses?
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Old 09-28-2010, 01:17 PM
 
19 posts, read 13,552 times
Reputation: 13
Quote:
Originally Posted by workingclasshero View Post
bravo..for killing the bill that would have finished america


instead of some stupid bill that DOES NOTHING to stop or save jobs, the dumbocrats want to reward a few, when many are disappearing....what is a 2 year 'holiday' form SS taxes (ss byw is hurting for funds) when the MAX savings would be 6k per year..yet businesses would save at least 20k a year by outsourcing....

.again the dumbocrats forget to think about these things:

get rid of the so called 'freetrade agreements' , eliminiate or lower corporate taxes, and raise/reinstall trade tarffis on imports........

but democrats will never do that, they are bought and paid for by big foreign business

Please correct me if I am wrong since I am one of the "dumocrats" you apparently like to berate.

1. It is my understanding that the bill stops allowing companies from taking deductions for the expenses for closing down an American operation and then turn around and take deductions for opening that same operation out of the US.

2. Stop deductions for 2 years for replacing an American job with an out of US job.

3. Stop deferring income (while still taking the deductions for expenses) for items made by US companies in another country and then shipped back to the US for actual US usage (very narrow compared to the overall problem).

I am sorry I don't see how that doesn't help?

About tariffs, et. al. you referred to....Didn't Hoover disasterously start complete protectionism? It is a delicate balance, but complete protectionism in my opinion will never help the situation.

Lastly, eliminating corporate taxes...are you nuts (again, my opinion) It seems to me I heard that Exxon posted the largest gross earnings ever recorded and paid $0 in taxes....who do you think picks up the slack in government revenue? Who will pay for those wars that Republicans love?

Again, just being one of the dumb old people who believe you can balance fairness with fiscal responsibility, I invite you explain to me what I am missing here?
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