Senate debates tax increases on companies that move jobs overseas

[denverbill]

Source: Washington Post

...
But instead of extending President Bush's individual income tax cuts, the legislation senators will consider would impose tax increases on corporations that shift operations overseas, costing U.S. jobs.
...
The Democratic corporate tax bill includes three provisions. One would end tax deductions that companies may take for expenses incurred when they shutter a U.S. operation and shift the work abroad. The second would impose an income tax on products once made in the U.S. but now manufactured by foreign workers. The third measure would provide a payroll tax incentive for companies to create American jobs by shifting overseas operations back to the U.S.
...

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/09/24/AR2010092403293.html

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Some good news for a change.

[xchrom]

1. You'd think there wouldn't be much of a debate. Nt

[sadbear]

3. Technically no, but...

the republican tea party has a Pavlovian reaction to the word taxes, and besides, it's important to get them on record (and hopefully on tape) defending tax breaks to those who outsource.

[unblock]

5. yeah, why tax poor corporations trying to save money by cutting costs?

:sarcasm:

[Blue_Tires]

8. Exactly...In reality there should be some large taxes already in place...

But with an election around the corner, nobody wants the label of "anti-business" which the usual suspects on Wall Street will slap on everyone who even discusses this...

[denverbill]

10. If Congress was 535 average Americans, there would not be.n/t

[xchrom]

11. Now maybe it's because I'm gay or it's because I'm politically active since

The viet nam war - but I find no particular
Wisdom in the 'average' American.

[Iowa]

15. Yep... It's "average Americans" who have allowed this country to sink to the level it has...

I have zero faith in the vast majority of "average Americans". Never in the history of this country has there been a more dumbed-down, uneducated, docile, unprincipled bunch of dolts as we have in this country today. If today's Americans had been alive in the 1770s, there would be no USA today.

[xchrom]

17. Well it's certainly true that the 'average american' found no wisdom

In the revolutionary movement for self determination.

And even the elites of the time couldn't extend notions
Of self determination to every one.

I'm glad we could agree.

[defendandprotect]

2. Aaah..... maybe they'll follow the light this time ... ???

[comtec]

4. debate and doing are two different things

the healthcare debate was a joke.
it was only meant to make us accept this less than half assed, pathetic excuse for a bill.
YES it has and will help many people. But without at least a public option, it's worthless, and only serves the insurance companies.

Lord knows why im looking to return to the US. Here I have 25 days of vacation - mandated by laws, 32 hour weeks, and 100e or so for full insurance because of the tight regulation on the insurance industry... and that's considered kind of weak by most euro standards.

And I seriously doubt that congress will do anything like ACTUALLY come down hard on these horrible off-shoring companies.

I'm done with hope.
i'm all hoped out.
IF they do anything it'll be amazing.
but im done hoping they'll actually do the right thing.

[denverbill]

9. I can certainly sympathize.

I should probably be less hopeful myself, given recent history.

[Cirque du So-What]

6. I made a similar suggestion back when NAFTA was first enacted

Wish it hadn't taken so long to get around to talking about providing a disincentive to taking jobs out of our country.

[MessiahRp]

7. Man I hope they're serious...

I'd weight it with a floor/ceiling.

If 75% of your workforce is based in American cities, you get a lower overall tax rate, if it's less than 25% you get a much higher rate. Also built with penalties/bonuses. If you are are above 75% and increase your employment in America by X% you get an additional tax break that kicks in. If you move X% of your existing workforce overseas at any point you get a X% tax raise.

There are ways to create a formula that will reward companies loyal to American workers and penalize those who continue to avoid American wages by purposely outsourcing all their work. In essence it's a tax instead of a tariff but something needs to be done to provide a tourniquet to stop these jobs from leaving the country en masse.

Rp

[Iowa]

16. It will never happen...

"Man I hope they're serious..."

They aren't. There's no point getting your hopes up with this crew. This proposal makes far too much sense to be enacted. It will never happen. It's nothing but theater. Sensible proposals like this will need to await a Democratic Administration and Congress (and by Democratic, I mean genuine Democrats - not this masquerading bunch of lightweights).

[rustyd55]

12. tax on corps

the republicans will find a way to kill that a few dems will join them the greed never stops with them big corp controls this country they buy elections and they own all the elected officials anyone who apposes them wont be reelected

[ibegurpard]

13. I would forgive the spinelessness of the tax cuts punt

if they were to pass this.

[BadGimp]

14. Drop the penalties and Focus on the Incentives

That is a strategy the GOP will not dare oppose openly.

That. Is a positive and affirming strategy. Right now that is what the sheeple will respond best to IMO.

But using taxes like penalties only works after a mid term or during a strong second term.