
Obama Says Tax Breaks Shouldn't Reward Companies for Creating Jobs Abroad - jacquesm
http://www.bloomberg.com/news/2010-10-16/obama-says-tax-breaks-shouldn-t-reward-companies-for-creating-jobs-abroad.html
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tptacek
What's the surprising, counterintuitive notion that reveals this point as a
miconception? The point of extending the tax breaks is to juice the US
economy; we, as a society, are agreeing (via our government) to spend money to
attempt to create US jobs.

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hga
Errr, I believe these "tax breaks" he's referring to are not taxing money
earned overseas until it's repatriated (I know there has been a big push about
this from Team Obama and it's the only "tax break" I know of that they've
talked about that would fit what he's saying now).

If US multinationals suddenly have to pay US taxes on all they do overseas,
even when it, say, never touches the US (e.g. mineral extraction, processing
and sales, almost entirely with foreign staff) ... well, I suppose it's
consistent with our unique policy of taxing all of our expats (the lucky ones
are in countries with which we've signed a tax treaty).

Our corporate tax rates are quite high by world standards. I don't know anyone
I respect who thinks its going to help the US economy. For instance, how many
of these companies will follow all those oil service companies who've already
moved to Switzerland by doing the like (maybe not to the Cantons of Helvetica
... but it's a generally good choice).

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hga
Here's an article confirming that what Obama's pushing includes the above:
[http://www.americanthinker.com/2010/10/the_move_your_corpora...](http://www.americanthinker.com/2010/10/the_move_your_corporate_headqu.html)

