Republicans block "Bring Jobs Home Act," Protect Outsourcing.

[Designer99]

The Republicans killed a bill that would give tax incentives to companies that "in sourced" their jobs back to America.

I'll admit I don't know all the details, but it's moves like this that make me think the GOP cares more about the interests of corporations over their own citizens.

Daily Kos: Republicans block Bring Jobs Home Act, protecting companies that outsource jobs

 

[backfire]

Progressive-ism is a cancer that affects both parties....

 

[eldirector]

The title of the article could just as well read "Dems block any amendments to Bring Jobs Home bill". Its all political grandstanding. Neither party is trying to make any hard decisions.

 

[mrjarrell]

Just the usual partisan maneuvering in an election year. If they can deny Obama anything that might make him look good, they will. Doesn't matter what the consequences are.

GOP senators block top Obama jobs initiative - CNN.com

 

[Designer99]

This is the part of politics that really makes me sick. They won't do the right thing for a nation's worth of people if it's going to make their opponent look good. Under that scenario, we all lose.

Just the usual partisan maneuvering in an election year. If they can deny Obama anything that might make him look good, they will. Doesn't matter what the consequences are.

GOP senators block top Obama jobs initiative - CNN.com

 

[spec4]

I call BS until ALL the facts are in.

 

[edporch]

As a political independent, the REAL answer is to create an economic environment that makes staying in the USA a good choice for American companies, and also lures foreign companies to want to come here too.

The answer isn't as simple as this news story tries to make it.

 

[Expat]

Generally any time the two parties agree to something it is bad for us anyway. So stick with the gridlock.

 

[Blackhawk2001]

I'd look to see what the legislation actually SAYS before I'd be willing to conclude that the Republicans were blocking it "because they're shills for the corporations". Look at the major contributors to both parties - especially the Democrats - before you make such accusations. I'm with Expat on this: the less legislation coming out of Congress, the better off we are (unless, of course, it's a wave of legislation dismantling most of the federal bureaucracy and federal codes).

 

[Hohn]

The Republicans killed a bill that would give tax incentives to companies that "in sourced" their jobs back to America.

I'll admit I don't know all the details, but it's moves like this that make me think the GOP cares more about the interests of corporations over their own citizens.

Daily Kos: Republicans block Bring Jobs Home Act, protecting companies that outsource jobs

First, consider your source. Daily Kos is not far from Daily Worker in political leanings.

Second, consider that actual contents of the bill and do some research (as you indicate, you don't know all the details).

The Bill provides for a 20% tax credit for "eligible insourcing expenses."

Well, what are those?

‘(1) IN GENERAL- The term ‘eligible insourcing expenses’ means--

• ‘(A) eligible expenses paid or incurred by the taxpayer in connection with the elimination of any business unit of the taxpayer (or of any member of any expanded affiliated group in which the taxpayer is also a member) located outside the United States, and
  ‘(B) eligible expenses paid or incurred by the taxpayer in connection with the establishment of any business unit of the taxpayer (or of any member of any expanded affiliated group in which the taxpayer is also a member) located within the United States,

if such establishment constitutes the relocation of the business unit so eliminated. For purposes of the preceding sentence, a relocation shall not be treated as failing to occur merely because such elimination occurs in a different taxable year than such establishment

In other words, the Democrats want to give a business a meager 1/5th compensation for the costs of closing on overseas operation and moving it to the US. This, in only one year also-- you can only claim the credit in the year in which you move the business.

What kind of foolhardy businessman would make a long-term decision about whether to move a business back to the US based on a one-year partial compensation?? As if overall productivity and cost of employment in the long term aren't relevant.



The purpose of this bill is NOT to create American jobs by creating incentives for businesses to relocate here. No, the purpose of this bill is to APPEAR to want to create jobs, while make the Republicans APPEAR to oppose the idea of American jobs and protecting outsourcing and all that crap.

It worked. It fooled you and it will fool many others.


If Congress really wanted to help create American jobs, it would stop punishing companies for earning money overseas. Right now, there is a huge tax penalty on money earned by foreign subsidiaries of American companies.

What that means is that a company can be raking in money from overseas operations and can't use it to benefit its American operations without Uncle Sam slapping a huge tax on it. The morons in Congress think they are discouraging outsourcing. But all they're doing is making sure that American businesses can't benefit from it.

For example, Cummins takes in about 65% of its money from overseas operations now. If it wants to hire more people in central Indiana, it has to take that money from the meager North American operations to avoid a huge tax penalty. There foreign operations can be very profitable, but the new parking lots that are needed and the additional facilities that a growing company needs can't be funding with that money.

Tell me why a company should pay a 30% penalty or more to try and bring home some money and make American jobs??

The fact that Congressional Democrats have no interest in repealing this stupid tax tells you that they don't really care about jobs, because unlike the SHAM bill proposed by Stabenow, repealing the tax on foreign-earned profits could benefit American businesses handsomely.

Unlike the SHAM bill, repealing this foreign-profits tax (even for only a year) would flow so much capital back to the US that more jobs could be created. It would allow businesses to re-characterize "foreign" earnings and "domestic" earnings.

 

[Hohn]

The title of the article could just as well read "Dems block any amendments to Bring Jobs Home bill". Its all political grandstanding. Neither party is trying to make any hard decisions.

Republicans have passed several "hard decision" bills in the House that never see the light of day in the Senate.

They've also shot down their share of Senate Democrat bills, some of which might be worth more than the hour's worth of talking they consumed.

 

[jgreiner]

The Republicans killed a bill that would give tax incentives to companies that "in sourced" their jobs back to America.

I'll admit I don't know all the details, but it's moves like this that make me think the GOP cares more about the interests of corporations over their own citizens.

Daily Kos: Republicans block Bring Jobs Home Act, protecting companies that outsource jobs

Quoting the DailyKOS? REALLY? Why not just read from Jay Carney's notes?

 

[jgreiner]

Just the usual partisan maneuvering in an election year. If they can deny Obama anything that might make him look good, they will. Doesn't matter what the consequences are.

GOP senators block top Obama jobs initiative - CNN.com

Why not block a jobs initiative that can't and won't produce jobs? Obama has proven that now for nearly 4 years.

The LAST initiative they didn't block, we were told we would have to pass it to find out what was IN it. And low and behold....socialized medicine.

 

[jbombelli]

I'd like to know what all was ACTUALLY in that bill before I condemn anyone for blocking it.

 

[hornadylnl]

If the repubs were serious about returning jobs to the US, they'd write a bill ending all business taxes.

 

[ViperJock]

If the dems want it it's probably not good for working people just as the affordable care act does not make care affordable. Their MO is to propose some total BS give it a pretty name and then get upset when the republicans won't sign off on it. Before you criticize we should find out what the bill really does and what irrelevant and damSging things the left tacked onto it.

 

[jgreiner]

I'd like to know what all was ACTUALLY in that bill before I condemn anyone for blocking it.

Maybe they were supposed to pass it to find out what was in it? happened before.

 

[jgreiner]

If the repubs were serious about returning jobs to the US, they'd write a bill ending all business taxes.

And let a ll the dollars sitting overseas to be repatriated.

 

[Hohn]

If the repubs were serious about returning jobs to the US, they'd write a bill ending all business taxes.

True, but you think they are attacked as the party of Big Business now? You ain't seen nuthin if they got that through.

 

[sepe]

As a political independent, the REAL answer is to create an economic environment that makes staying in the USA a good choice for American companies, and also lures foreign companies to want to come here too.

The answer isn't as simple as this news story tries to make it.

Exactly how do you start that process? Even at minimum wage, cost of labor would be too high, manufacturing in a somewhat environmentally friendly manner is too expensive, and the labor laws would kill production. That wasn't even starting to take the taxes and other government BS into account.