Obama to end tax benefits to firms that ship jobs overseas

[OhioChick]

Source: Press Trust of India

Washington, Aug 31 (PTI) Democratic Party's US presidential candidate Barack Obama has underlined his commitment to halt outsourcing of jobs overseas by ending tax breaks to companies that ship works to other countries, a policy that could adversely affect India.

In one of his first major campaign events in the aftermath of the Democratic Convention in Denver, Colorado, last week, Senator Obama stressed that he and his running mate Senator Joseph Biden is going to put an end to tax breaks to companies that ship jobs overseas.

Making a strong anti-outsourcing pitch, Senator Obama said "Joe Biden and I are going to change this tax code".

"We're going to take away tax breaks to companies that ship jobs overseas. We are giving (will give) them to companies that invest right here," Obama said in Dublin, Ohio.

Playing to the gallery on the hot button issue of outsourcing, Obama kept up with the rhetoric on the subject that has been a staple during his campaign for the party's ticket.

"You are working harder and harder just to get by. Tens of thousands, hundreds of thousands of manufacturing jobs have left. People have lost not just their job, but their healthcare, their pensions," Senator Obama pointed out.

The Democratic Party's leaders took broad swipe at the soon to be official Republican nominee Senator John McCain for being nothing but a shadow of what has transpired over the Bush era at the White House.

Flaying the Republican-led administration, he said, "John McCain and George Bush share the basic idea...That says you're on your own".

"They call it the ownership society, but it really means you're on your own. Your job gets shipped overseas, tough luck, you're on your own," Senator Obama noted.


Read more: http://www.ptinews.com/pti%5Cptisite.nsf/0/A4956F54BF43D8B4652574B6004DF668?OpenDocument

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:thumbsup:

[yourout]

1. And its about fucking time. A free market is one thing....tax breaks to send jobs overseas is.....

horseshit.

[AzDar]

4. Treason, really.

[OhioChick]

5. Sure is. n/t

[onehandle]

2. Thank you, President Obama. Drive these anti-American corporations into the sea. nt

[RantinRavin]

3. He better hope we get a 60 seat majority in the Senate

For he can't change shit if it's fillibustered.

[Indenturedebtor]

10. Let the pukes fillibuster such a bill

The blowback would be absolutely epic!

[ChromeFoundry]

13. You would think...

...that there should have been a lot of blowback already! People have forgotten how to protest the government's actions. I really hope that a CHANGE is a few months away. I was really disappointed that Pelosi didn't follow true with all her promises. The next four years are this country's final hope for turning things around. This ship is just about sunk.

[Indenturedebtor]

17. True true. Unfortunately the press doesn't cover protestors anymore

If they were like this in the past, I'm afraid that "We shall overcome" would be a completely unknown phrase.

[endthewar]

28. Agreed. They would be hated even more.

Those up for reelection in 2010 will be scared to fillibuster that kind of bill.

[beac]

25. I worry that the GOP is going to stop putting $$$ into McMansion's

flailing campaign and sink ALL their money into regaining the Senate. :scared:

[ogneopasno]

6. Shout out to Wellstone!

Can I get a HELL YEAH!

[kestrel91316]

7. McSame, not to be outdone, vows to give major tax breaks to

companies that ship jobs overseas. As a reward for their profitmindedness.

[qwlauren35]

22. Please say you're joking!!!

That's disgusting. I'd like to believe that he wouldn't be so dumb as to admit it, even if is going to do it... or allow it to continue.

[kestrel91316]

23. You don't know me very well. 99% of my posts are cutting-edge sarcasm.

Had ya there for a minute though, huh? LOL

[Zhade]

8. Excellent. A step toward fixing the abomination that is NAFTA.

Thanks, bill.

GOBAMA!

[Booster]

9. I hope he also includes no government contracts to companies

who have their headquarters overseas to avoid paying taxes. That one really bites my butt.

[OhioChick]

11. ....

Obama promises jobs for America and no tax sops for companies that outsource work out of the country – Indian oligarchs and their political agents do not like that

Harish Baliga
Aug. 29, 2008

George Bush is like by the ignorance of the ‘quick rich’ schemes of Indian oligarchs. He allowed export of American jobs to India. Bush’s oligarch friends, the rich owners of American corporations made handsome profits by hiring cheap educated work force in India and firing qualified, efficient and hard working American workers in America. Obama promises to change that. The Bush oligarchy is coming to an end unless McCain oligarchy takes it over!

Interestingly the self centered money mongering Indians especially the oligarchs and their political agents and employees cannot take it.

According to media reports from India, So when India woke up on Friday and caught on to the Democratic Presidential candidate's power speech, there were nervous exchanges of what Obama's anti-sourcing pitch could have meant or not meant.

Infosys quarters started ringing with the reaction on how in a globalised world outsourcing is realty. HR Director of Infosys, Mohandas Pai said his company would wait and watch.

According to the nation's premier IT lobbying association NASSCOM, "Obama probably meant manufacturing and not software. US companies themselves will back outsourcing. NASSCOM President Som Mittal said US companies would find the right balance, but having worked with us in the past, most companies increase their competitiveness when they work with India.

Earlier on August 26, Hillary Clinton's Speech at the Democratic National Convention had similar overtones. "We need to elect Barack Obama because we need a President who understands that America can''t compete in a global economy by padding the pockets of energy speculators, while ignoring the workers whose jobs have been shipped overseas.

http://www.indiadaily.com/editorial/19986.asp

[Tandalayo_Scheisskopf]

14. Interesting.

This article is in an Indian paper. Whassup wid' dat?

Oh, and memo to NASSCOM: It EXACTLY impacts IT outsourcing. IT workers, in the US, are workers too, and besides, Indian work product in the IT realm is widely known to suck dead donkeys.

[OhioChick]

19. Most, if not all

of the outsourcing/offshoring articles that I come across are from Indian news sources....never U.S. Guess the U.S. media doesn't want us to know what's going on.....

[mzmolly]

12. K and R

:kick:

[Omaha Steve]

15. K&R

Posted by one of my closest friends on the DU.

[shanti]

16. AWESOME!!

it's good to see that outsourcing is important to obama. but is it too late....? :shrug:

[RufusTFirefly]

18. He said almost the same thing in Thursday's speech

"Unlike John McCain, I will stop giving tax breaks to corporations that ship jobs overseas, and I will start giving them to companies that create good jobs right here in America." -- Barack Obama, Mile High Stadium, August 28, 2008

[Stardust]

40. I know...right?

[MannyGoldstein]

20. Please Explain This To Me: Why Didn't It Work?

We eliminated tariffs on goods produced by $2-a-day workers in other countries.

Then our government gave incentives to send jobs to those countries.

I'd expect that this would spur more jobs in the US. I was totally surprised that millions of jobs went overseas, blue-collar wages plummeted, and the Predator Class made a mint. What went wrong?

Very truly yours,

The DLC

[pampango]

32. I thought that the North (developed countries) agreed to eliminate (or at least reduce)

tariffs on goods imported from the South (the Third World). I thought that was one of the major concessions that the poor countries were able to get from the rich countries. How does building (or maintaining) tariff walls against the Third World help poor people over all (unless some poor people matter more than others)?

Of course, tax breaks for outsourcing jobs is totally indefensible.

[NJCher]

39. splat!

What went wrong?

DU-zy material!



Cher

[trthnd4jstc]

21. G-d Bless the Whole World, and yet an US Government needs to serve the US first.

I do not wish for Indians, nor Chinese to lose their jobs, but let us get real. There needs to be more decent livable wage jobs here in the US.

[whistle]

24. YESsssss and how about charging the companies an export tax

...until they bring the jobs they outsourced back

[ejbr]

26. Can we file this under fucking DUH?

Why these shit-for-brains (people who voted for Bush) didn't believe Kerry when he talked about this boggles the mind!

[ryanmuegge]

27. And increase the number of imported (relatively) low-wage, white-collar labor.

Hey, it's still more than the Republicans would do at least.

[Cronopio]

29. That's the kind of thing we need to hear from him. Bravo Obama! nt

[superconnected]

30. Bravo Obama, and don't go anywhere without security, we need You!

I don't trust the corporations with this news.

[Name removed]

31. Deleted message

Message removed by moderator. Click here to review the message board rules.

[denverbill]

33. This should be the #1 priority and talking point of the Democratic Party and Obama.

If we hammer McBush and his little helper on this, NAFTA, and free trade generally, we will wipe the floor with them in November.

[Vidar]

34. He'd have my vote for that alone.

[OhioChick]

42. Same here. n/t

[October]

35. Link doesn't work

Where is pti news?

Thanks.

[OhioChick]

41. Link works for me....

PTI News= Press Trust of India

[ihavenobias]

36. Big K & R

[krabigirl]

37. Wonderful!!

[susanna]

38. Fantastic news! I'll be sure to pass it along to the fence-sitters I know. :-)

[and-justice-for-all]

43. well yeah...thats the way it should be....nt

[Hannah Bell]

44. good, if he means it. us automakers were investing in china as

far back as the 80s. us (& european) taxpayers financed the destruction of their own taxbases & jobs, & the build-up of china as "manufacturer to the world".

[Odin2005]

45. We also need to raise tarriffs in order to protect American jobs.

If the WTO whines about it they can go to Hell.

[VoodooGuru]

46. Good start.

Now if we can use the mechanisms and organizations of global trade to pressure other countries into protecting the right of workers to organize... not to mention put some teeth back in our own laws that are supposed to protect labor ... we'd really be going the right way, which is of course the left way. ;)