Page 1 of 2 12 LastLast
Results 1 to 10 of 12

Thread: Bill on outsourced jobs fails Senate test

  1. #1

    Default Bill on outsourced jobs fails Senate test

    Cutting corporate taxes if they create jobs here.

    Not allowing deductions for moving jobs over seas.

    Terrible ideas aren't they?

    http://money.cnn.com/2010/09/28/news...obs_bill_dead/
    By Jennifer Liberto and Dana BashSeptember 28, 2010: 2:55 PM ET

    WASHINGTON (CNNMoney.com) -- As expected, a Senate bill designed to end tax breaks for U.S. companies that move jobs and manufacturing plants overseas failed a key test vote Tuesday.

    With a 53-45 vote, Senate Republicans blocked a Democratic efforts to end debate and ultimately vote on a "jobs" bill.

    Top Democrats have claimed the bill would help keep American jobs from going overseas. But when it came to the test vote, four Democrats voted with Republicans to block the bill.

    Republicans have called it nothing more than a pre-election political ploy.

    The bill came out of nowhere last week and wasn't discussed or debated, as a package, by any of the Senate's committees. It would have given companies a break on payroll taxes for new U.S. jobs that replace positions that had been based overseas.

    The measure would have also reined in tax incentives for moving jobs outside the United States.

    Democratic sources told CNN they knew all along this measure would not make it very far.

    "The bill we tried to pass today is based on simple common sense: to keep American jobs here in America, we should stop forcing taxpayers in Nevada and across the nation to pay for giveaways that reward companies for sending American jobs overseas," said Senate Majority Leader Harry Reid in a statement.

    The U.S. Chamber of Commerce opposed the bill saying it would hurt the economy and lead to job cuts. Republicans stuck together to filibuster the bill.

    "Now, in the last three days of the session they decided they can pretend to be concerned. This is nothing short of patronizing," said Senate Republican leader Mitch McConnell of Kentucky. "This is about as pure a political exercise as you can get.

    As they campaign to retain control of Congress in the Nov. 2 midterm election, Democrats have been hammering Republicans on the issue of tax breaks for companies that send jobs overseas.

    Tax holiday: The Creating American Jobs and Ending Offshoring Act would have given U.S. employers a two-year break from payroll taxes on wages paid to new U.S. workers performing services in the United States, according to a summary of the legislation.

    To be eligible, businesses would have had to certify that the U.S. employee is replacing an employee who had been performing similar duties overseas.

    But experts said the amount of money companies could save as a result of the tax holiday may not be enough to offset the benefit hiring workers in cheaper labor markets.

    Closing loopholes: The bill also aimed to discourage companies that ship jobs abroad by eliminating favorable tax rates.

    Under the legislation, businesses would have been blocked from taking any deduction, loss or credit for costs related to reducing or ending U.S. operations while expanding similar operations outside of the United States.

    The bill would have also changed current tax laws that allow companies to defer paying U.S. tax on income earned overseas until the profits are brought back to the United States.

    Jennifer Liberto is a senior writer at CNNMoney. Dana Bash is senior congressional correspondent at CNN.
    '
    '
    $20,000,000 voter fraud that you will never hear about on Fox News.

    Some numbers based on facts or liberal propaganda as some call it

    Historical Tax Chart

    People's Budget

    Brain Washing In America

  2. #2
    Senior Member
    Join Date
    Jan 2007
    Location
    Marietta, GA
    Posts
    8,980

    Default

    Depends. Most Americans want to pay less for goods, which means jobs going overseas is what the people want. Is the role of government to give the people what they want? Is it bad or dumb when government gives the people what they want? In my opinion... usually.


    I am against anything that further complicates the tax code so whether or not I think jobs should stay here or go overseas I would oppose this legislation.


    The best way to keep jobs here is to make ourselves a more attractive destination with lower taxes and fewer labor laws. It's a global economy from here on out, we can't compete with the rest of the world for jobs if we think its everyone's right to have HBO and an iPhone.

  3. #3
    Senior Member Hawkeye2j's Avatar
    Join Date
    Feb 2010
    Location
    Massachusetts
    Posts
    21,287

    Default

    Quote Originally Posted by kres24GT
    Depends. Most Americans want to pay less for goods, which means jobs going overseas is what the people want. Is the role of government to give the people what they want? Is it bad or dumb when government gives the people what they want? In my opinion... usually.


    I am against anything that further complicates the tax code so whether or not I think jobs should stay here or go overseas I would oppose this legislation.


    The best way to keep jobs here is to make ourselves a more attractive destination with lower taxes and fewer labor laws. It's a global economy from here on out, we can't compete with the rest of the world for jobs if we think its everyone's right to have HBO and an iPhone.
    Tax Credits for moving jobs overseas is obscene. It is further evidence that the Republicans are for the special interests and the Democrats are for the American worker. All those Republican Senators and the four Democrats who sided with them can go to hell.
    "Our tax code shouldn’t give an advantage to companies that can afford the best-connected lobbyists. It should give an advantage to companies that invest and create jobs here in America." — President Obama

  4. #4

    Default

    It is a global economy, America better start to realize that or get used to the rest of the world leaving us behind.

  5. #5
    Senior Member Hawkeye2j's Avatar
    Join Date
    Feb 2010
    Location
    Massachusetts
    Posts
    21,287

    Default

    Quote Originally Posted by wayers57
    It is a global economy, America better start to realize that or get used to the rest of the world leaving us behind.
    Global economy fine. That means we get to sell our goods all over the world and buy others. It does not mean we give tax breaks to take away American jobs.
    "Our tax code shouldn’t give an advantage to companies that can afford the best-connected lobbyists. It should give an advantage to companies that invest and create jobs here in America." — President Obama

  6. #6

    Default

    Quote Originally Posted by Hawkeye2j
    Global economy fine. That means we get to sell our goods all over the world and buy others. It does not mean we give tax breaks to take away American jobs.
    It is up to us to keep them here not the government.

  7. #7
    Senior Member Hawkeye2j's Avatar
    Join Date
    Feb 2010
    Location
    Massachusetts
    Posts
    21,287

    Default

    Quote Originally Posted by wayers57
    It is up to us to keep them here not the government.
    It is up to the government whether or not to give tax breaks. When you give tax breaks it is to receive something in return for Americans.
    "Our tax code shouldn’t give an advantage to companies that can afford the best-connected lobbyists. It should give an advantage to companies that invest and create jobs here in America." — President Obama

  8. #8

    Default

    Quote Originally Posted by Hawkeye2j
    It is up to the government whether or not to give tax breaks. When you give tax breaks it is to receive something in return for Americans.
    Can you shit and wipe your ass without someone standing over you?

  9. #9
    Senior Member Hawkeye2j's Avatar
    Join Date
    Feb 2010
    Location
    Massachusetts
    Posts
    21,287

    Default

    Quote Originally Posted by wayers57
    Can you shit and wipe your ass without someone standing over you?
    Can you debate without being an asshole?
    "Our tax code shouldn’t give an advantage to companies that can afford the best-connected lobbyists. It should give an advantage to companies that invest and create jobs here in America." — President Obama

  10. #10

    Default

    Quote Originally Posted by Hawkeye2j
    Can you debate without being an asshole?
    not with the helpless and stupid

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •