The Outsource Corporate Headquarters Act of 2009

[WhiskeyGirl]

Killing America, one company and thousands of jobs, at a time...  What grade does Obama get?

A staple of President Obama's stump speech during the 2008 Presidential campaign was a promise to end tax breaks for corporations that ship jobs overseas. On May 4, the Obama administration rolled out its proposal to do just that. While Obama is correct that US tax policy discriminates against corporations that produce in the United States, his proposed solution should be called "The Outsource Corporate Headquarters Act of 2009."

But in the effort to solve one problem, Obama's proposal creates a greater one. In order to slow the outsourcing of American jobs, it would encourage the exodus of US corporations.  The US government can only tax overseas profits of US-based corporations. If Ireland has its own locally owned widget producers, they will be able to undersell the US-owned Widget Corporation because their after-tax profit margin of $7 exceeds that of the Widget Corporation. The only way for the Widget Corporation to survive would be to move its headquarters to Ireland so that it too would be exempt from US taxes.

 

read more here about other taxing solutions...
http://www.americanthinker.com/2009/05/the_outsource_corporate_headqu.html

 

Why not apply a carbon and disposal tax on all imports?  Level the playing field?

Why not apply an export tax on all RAW materials?

Grade = A+

jmho

[nonesuche]

WG if you review the ranks of those Obama chose for his 'economic committee' it was very apparent he was blowing smoke about taxing offshore profits. The fact the media didn't call him out on it is what I find so disturbing. It's almost as if they don't want to examine a single reality of this administration.