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Old 07-21-2012, 12:03 PM
 
Location: Fredericksburg, Virginia
298 posts, read 563,624 times
Reputation: 161

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GOP senators blocked a bill that would give tax breaks to companies that "insource" jobs to the U.S. while eliminating deductions for companies that move jobs abroad.
Business groups such as the Chamber of Commerce and Association of Manufacturers lobbied against the bill.
The GOP have lost their minds. I can't believe I voted for them in the past.
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Old 07-21-2012, 12:08 PM
 
69,368 posts, read 63,929,437 times
Reputation: 9383
Quote:
Originally Posted by katfzl View Post
GOP senators blocked a bill that would give tax breaks to companies that "insource" jobs to the U.S. while eliminating deductions for companies that move jobs abroad.
Business groups such as the Chamber of Commerce and Association of Manufacturers lobbied against the bill.
The GOP have lost their minds. I can't believe I voted for them in the past.
You cant tax companies that move their busines overseas..

under what dam jurisdiction would you use to tax a business in China?

Furthermore, so now you are going to give tax breaks to companies that can afford to move jobs overseas, and then bring them back? Why would they get a break while those who never leave the US get punished?

DUMB!!!
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Old 07-21-2012, 12:26 PM
 
Location: Berwick, Penna.
16,214 posts, read 11,273,221 times
Reputation: 20827
Quote:
Originally Posted by katfzl View Post
GOP senators blocked a bill that would give tax breaks to companies that "insource" jobs to the U.S. while eliminating deductions for companies that move jobs abroad.
Business groups such as the Chamber of Commerce and Association of Manufacturers lobbied against the bill.
The GOP have lost their minds. I can't believe I voted for them in the past.
How can Republicans block a Senate bill when they are a minority within the Senate???
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Old 07-21-2012, 12:27 PM
 
Location: Unperson Everyman Land
38,614 posts, read 26,270,657 times
Reputation: 12633
Quote:
Originally Posted by pghquest View Post
You cant tax companies that move their business overseas..

under what dam jurisdiction would you use to tax a business in China?

Furthermore, so now you are going to give tax breaks to companies that can afford to move jobs overseas, and then bring them back? Why would they get a break while those who never leave the US get punished?

DUMB!!!


Also, companies thinking about doing business in the US will have to evaluate the prospect of being punished for moving jobs to other nations in the future.

All other factors being equal, why set yourself up to get hammered like that?


This bill may give Democrats a warm fuzzy feeling, but it's a job killer.
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Old 07-21-2012, 12:37 PM
 
Location: Fredericksburg, Virginia
298 posts, read 563,624 times
Reputation: 161
Quote:
Originally Posted by pghquest View Post
You cant tax companies that move their busines overseas..

under what dam jurisdiction would you use to tax a business in China?

Furthermore, so now you are going to give tax breaks to companies that can afford to move jobs overseas, and then bring them back? Why would they get a break while those who never leave the US get punished?

DUMB!!!
Look up the tax code. If the corporation is headquartered in the US you tax all earnings (regardless of source) with a deduction for foreign taxes and a caveat related to dividend payments. The goods are manufactured overseas but sold in the United States like a piggy bank. The economy cannot sustain this behavior.

What jurisdiction is China. Go get educated on the subject but do not post about what you do not understand. The fact is the republicans spend their time trying to repeal Obamacare 31 times while Obama is President versus doing what is best for this country. The fact they blocked these bills means they care nothing for the middle class in this country.
SMART!!!
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Old 07-21-2012, 12:40 PM
 
4,428 posts, read 4,471,799 times
Reputation: 1356
Quote:
Originally Posted by katfzl View Post
GOP senators blocked a bill that would give tax breaks to companies that "insource" jobs to the U.S. while eliminating deductions for companies that move jobs abroad.
Business groups such as the Chamber of Commerce and Association of Manufacturers lobbied against the bill.
The GOP have lost their minds. I can't believe I voted for them in the past.

Hardly worth wasting your breath all. katfzl doesn't get it.


One of the reasons Canada has overtaken the U.S. in wealth is because Canada has reduced it's corporate tax to 15%.

Also Canada didn't have idiots like Barney Frank screwing up the housing market. Canada never went through the bubble and burst that we did.


Anyway, oversea companies would not be as profitable as they are by the enactment of Debbie Stabenow's stupid plan.



Talk to Obama and Jeffrey Immelt (head of President Obama's Jobs Council & CEO of General Electric) about outsourcing. More than half of GE's 300,000 employees work overseas and GE doesn't pay ANY taxes.

Jeffrey Immelt is Obama's buddy.
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Old 07-21-2012, 12:40 PM
 
Location: Fredericksburg, Virginia
298 posts, read 563,624 times
Reputation: 161
Quote:
Originally Posted by momonkey View Post
Also, companies thinking about doing business in the US will have to evaluate the prospect of being punished for moving jobs to other nations in the future.

All other factors being equal, why set yourself up to get hammered like that?


This bill may give Democrats a warm fuzzy feeling, but it's a job killer.
Republican = Job Killer. Look at the record.

You have no idea what you are talking about.
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Old 07-21-2012, 12:42 PM
 
4,428 posts, read 4,471,799 times
Reputation: 1356
Quote:
Originally Posted by katfzl View Post
Look up the tax code. If the corporation is headquartered in the US you tax all earnings (regardless of source) with a deduction for foreign taxes and a caveat related to dividend payments.
General Electric has profits in the billions and pays no taxes.
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Old 07-21-2012, 12:45 PM
 
Location: Fredericksburg, Virginia
298 posts, read 563,624 times
Reputation: 161
It's about labor, not corporate taxes. Isn't it ironic that Canada, with socialized medicine and all it's other services, has surpassed the US in wealth. The problem is people don't understand the complexity of issues.
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