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Old 07-18-2012, 07:47 PM
 
Location: Great State of Texas
86,052 posts, read 84,442,711 times
Reputation: 27720

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Giving multinationals 20% tax credits is not going to bring back your millions of lost jobs.
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Old 07-18-2012, 08:19 PM
 
27,624 posts, read 21,115,129 times
Reputation: 11095
Quote:
Originally Posted by HappyTexan View Post
Giving multinationals 20% tax credits is not going to bring back your millions of lost jobs.
...but giving tax breaks to companies that move or outsource jobs is beneficial to the citizens of this country?

To the Republican crazies, I suppose that makes sense...
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Old 07-18-2012, 08:21 PM
 
Location: Unperson Everyman Land
38,647 posts, read 26,363,905 times
Reputation: 12648
Quote:
Originally Posted by hotair2 View Post
Sounds like a good bill. Why am I not surprised that Republicans did not like it.


The problem which needs to be fixed is that businesses currently don't see doing business in the US as being practical or wise.

While rewards for future "insourcing", as described in the bill, may have some benefit, the penalties for future "outsourcing" may cause business to stay out of the US all together.

If I were an international corporation considering new operations in the US, the tax credits would be a consideration but so would penalties for moving jobs in the future.

Personally, I would prefer laws that made doing business in the US easier, with lower marginal tax rates on profits and less unwise regulation.



Assuming this is actually a good bill, and I'm not convinced it is, where have Democrats been for the past five and a half years?

For that matter, where were the champions of the working class in 2000?

http://votesmart.org/bill/votes/7879

HR 4444 U.S.-China Relations Act of 2000 - Voting Record - Project Vote Smart


Where were they in 1993?


President Bill Clinton - Remarks on the Signing of NAFTA - YouTube


Al Gore Sold Out America on NAFTA - YouTube

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


Hasn't unemployment been over 8% for more than three and a half years?

US Misery Index - Custom Index by Month


So now that all the Keynesian theories have once again been proven wrong, are we going to double-down on nanny-state intervention measures?
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Old 07-18-2012, 08:22 PM
 
25,840 posts, read 16,515,156 times
Reputation: 16024
Quote:
Originally Posted by Yooperkat View Post
What are you talking about?

Everyone knows that it was to make his environmental voting bloc happy.
Thanks for providing that example of exactly what I am talking about
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Old 07-18-2012, 09:33 PM
 
Location: Great State of Texas
86,052 posts, read 84,442,711 times
Reputation: 27720
Quote:
Originally Posted by sickofnyc View Post
...but giving tax breaks to companies that move or outsource jobs is beneficial to the citizens of this country?

To the Republican crazies, I suppose that makes sense...
I don't agree with that, never have. But someone proposed it and Congress agreed to it and here we are today.

Why didn't they remove those credits when they had majority back in 2009/2010 ?
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Old 07-18-2012, 09:41 PM
 
Location: Where they serve real ale.
7,242 posts, read 7,904,172 times
Reputation: 3497
Quote:
Originally Posted by texdav View Post
I beleive the republicans have introduced about two hundred jobs bills.
They've introduced 200 bills they call jobs bills, not one of which even if passed would have created a single job.
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Old 07-18-2012, 09:43 PM
 
Location: Where they serve real ale.
7,242 posts, read 7,904,172 times
Reputation: 3497
Quote:
Originally Posted by HappyTexan View Post
I don't agree with that, never have. But someone proposed it and Congress agreed to it and here we are today.

Why didn't they remove those credits when they had majority back in 2009/2010 ?
The someone who proposed it was no doubt encouraged by huge bribers... er, "campaign donations".
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Old 07-18-2012, 09:46 PM
 
Location: Great State of Texas
86,052 posts, read 84,442,711 times
Reputation: 27720
Quote:
Originally Posted by sickofnyc View Post
...but giving tax breaks to companies that move or outsource jobs is beneficial to the citizens of this country?

To the Republican crazies, I suppose that makes sense...
I went digging for those "tax breaks" and found this. Been going on for at least a decade now folks.
It really only effects the big multinationals like GE, Microsoft, IBM, etc.

Uncovering the Offshore 'Tax Breaks' | Blogs | ITBusinessEdge.com
The Internal Revenue Service has apparently been considering rules to address a practice called transfer pricing, in which multinational companies are able to reduce their U.S. taxes and keep profits offshore in low-tax jurisdictions through their calculations of the prices associated with transferring goods and services between their divisions.It's apparently been on the IRS' radar for years. GlaxoSmithKline agreed in 2006 to pay the IRS $3.4 billion and remove its claim for a tax refund of $1.8 billion to resolve a dispute over whether its American subsidiary had overpaid its British parent company to reduce its profits and thus its share of U.S. taxes. ..

During his campaign Obama came out against a practice called deferral, which allows U.S. companies to delay paying taxes on overseas earnings until those profits are returned to the United States. Sen. John Kerry, D-Mass., similarly criticized the practice during his 2004 presidential campaign,
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Old 07-18-2012, 11:15 PM
 
29,407 posts, read 21,996,065 times
Reputation: 5455
Why are they even proposing offering tax breaks to begin with? Because they know the damn corp tax rate is too high and that is why companies leave in the first place.

Cut the tax rate and the companies will stop leaving. Dems can't do that though because they have played the stupid corporations are evil card too many times and have brainwashed their followers into believing it and can't afford losing their zombie votes.
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Old 07-18-2012, 11:23 PM
 
Location: Houston
26,979 posts, read 15,879,874 times
Reputation: 11259
Quote:
Originally Posted by HappyTexan View Post
Both versions (Senate and House) are still in committee.

There was no vote on this. The vote reported in the OP's link is a vote on the repeal of Obamacare.

You guys got suckered !

I guess us Texans are the only ones who are not idiots.
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