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End tax deductions for outsourcin​g

Daily newsbrief journal for January 2012, also see http://www.usdemocrats.com/brief for a global 100-page perpetual brief and follow twitter @usdemocrats


End tax deductions for outsourcin​g

Postby admin » Fri Jan 27, 2012 12:00 pm

Image

Friend --

Here's something that President Obama laid out in his State of the Union that I think deserves special attention:

Under current law, American companies can actually get a tax deduction for outsourcing jobs.

That's the opposite of how it should work. President Obama is proposing to end tax deductions for outsourcing, create a new tax credit for bringing jobs home, and lower tax rates for companies that manufacture and create jobs in the United States.

If you think this should be a priority during this campaign, it's up to you to speak out. Support the President and spread the word:

http://my.barackobama.com/Keep-Jobs-at-Home

This could be a defining issue of 2012.

One of our prospective opponents built his career in part on outsourcing jobs in the private sector -- and then continued outsourcing jobs as a governor. Is that the kind of economic experience and mindset people want in a President?

We heard a much different plan from President Obama this week -- and we need to make sure everyone knows about this contrast. In his own words, "It's time to stop rewarding businesses that ship jobs overseas, and start rewarding companies that create jobs right here in America. ... Our workers are the most productive on Earth, and if the playing field is level, I promise you -- America will always win."

Thanks,

James

James Kvaal
National Policy Director
Obama for America

P.S. -- Here's the quote from the State of the Union:

"Think about the America within our reach: A country that leads the world in educating its people. An America that attracts a new generation of high-tech manufacturing and high-paying jobs. A future where we're in control of our own energy, and our security and prosperity aren't so tied to unstable parts of the world. ...

What's happening in Detroit can happen in other industries. It can happen in Cleveland and Pittsburgh and Raleigh. We can't bring back every job that's left our shores. But right now, it's getting more expensive to do business in places like China. Meanwhile, America is more productive. A few weeks ago, the CEO of Master Lock told me that it now makes business sense for him to bring jobs back home. Today, for the first time in fifteen years, Master Lock's unionized plant in Milwaukee is running at full capacity.

So we have a huge opportunity, at this moment, to bring manufacturing back. But we have to seize it. ...

My message is simple. It's time to stop rewarding businesses that ship jobs overseas, and start rewarding companies that create jobs right here in America. Send me these tax reforms, and I'll sign them right away."
admin
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