House Republicans Block "Bring Jobs Home Act"

So, as it reads, is it in fact a tax "increase" on corporations that are already outsourcing? If the goal is to eliminate a tax break, is it not going to cost the corporations more money to do business overseas? (I am trying to understand the implications here) And if it does read as a tax increase, is that why they did not want it to pass?

reply to post by SJE98

I read the bill, in addition I also watched Sen. Debbie Stabenow ,D-mich. present this bill and explain the bill on the Senate floor yesterday on Cspan.

What you left out op , is that Sen. Debbie Stabenow specifically stated that the tax benefits are for "cretin companies" operating in china and abroad

Great...let's see the text of the bill that says it is specifically for "certain companies".

I read the bill...I don't think you are going to be able to find it.

But that isn't going to stop people in this thread from blindly using your comment as an excuse though...because they have already been doing this based on other Right Wing commentators saying the same thing....all with no proof or source at all.

reply to post by LoonyConservative

Outsourcing is not new outkast.. but what is new is a president who attacks the private sector almost on a daily basis.. but after a while of reading your posts, I've come to the determination that your a leftist shill

Please show me one piece of legislation Obama has passed or presented that attacks the private sector.

After reading your post...I've come to the determination that you are an ignorant fool...and I don't care what your opinion is.

We've had twenty plus years of rewarding companies with tax breaks for shipping their jobs to China and Mexico. Ever since the Reagan years, the big money influence in Washington has been using it's power to write it's own favorable tax codes. That's why it's true, today just as it was 20+ years ago under Reagan, companies are given a financial incentive to close up manufacturing plants in America and re-open them in China using Chinese labor. It's been the single greatest drain on the American economy.

This bill is as simple as it gets. Close that tax incentive for rewarding companies to ship jobs overseas, and instead, give them a tax break for bringing them home.

It doesn't surprise me that the current version of the Republican party hates this idea. They'll use any sort of convoluted logic they can come up to defeat it, and they'll use their mouthpieces in "conservative" media to spin it.

Originally posted by OutKast Searcher
reply to post by SJE98

 

I read the bill, in addition I also watched Sen. Debbie Stabenow ,D-mich. present this bill and explain the bill on the Senate floor yesterday on Cspan.

What you left out op , is that Sen. Debbie Stabenow specifically stated that the tax benefits are for "cretin companies" operating in china and abroad

Great...let's see the text of the bill that says it is specifically for "certain companies".

I read the bill...I don't think you are going to be able to find it.

But that isn't going to stop people in this thread from blindly using your comment as an excuse though...because they have already been doing this based on other Right Wing commentators saying the same thing....all with no proof or source at all.

I already called this as a pointless bill because while it incentive for companies to come home, that 20% tax cut is nullified by Obamacare as it stands... in essence this bill would allow Obama to look " private sector friendly" and nothing more.

Democrats and Republicans are too busy fighting each other for the sake of the parties they are affiliated with to do what is right for America. It is time to get rid of the lot of them. The are all PROFESSIONAL POLITICIANS whose party affiliation means more to them than being American. It is time to elect politicians who love America more than they love power and money. Political parties should be outlawed. Lobbyists should be shot on public television for perverting the democratic process and denying us the right to Constitutional representation.

reply to post by LoonyConservative

they can reject it because A.) yes it gives a tax incentive to bring jobs back. B.) but that incentive is nullified by Obamacare.

Please explain how Obamacare will "nullify" the tax credits from this bill.

This should be entertaining.

Originally posted by OutKast Searcher
reply to post by LoonyConservative

 

Outsourcing is not new outkast.. but what is new is a president who attacks the private sector almost on a daily basis.. but after a while of reading your posts, I've come to the determination that your a leftist shill

Please show me one piece of legislation Obama has passed or presented that attacks the private sector.

After reading your post...I've come to the determination that you are an ignorant fool...and I don't care what your opinion is.

I shouldn't have to show you 3 years after the man got elected.. its all here, on ATS. you just refuse to see it because Obama seems to be your man.

Such patriots those Tea Party house members are.
They want you to hate Unions, when union members are
your actual neighbors. (firefighters and teachers)

And the GOP want you to back billionaires, CEO's & China.
They repaid your brilliant votes by giving your jobs to China Russia and India.
All three countries donated to the republican party (and only the GOP)
through the Chamber of Commerce to insure
your jobs grew overseas.

Not a billionaire?
Don't vote like one.

reply to post by LoonyConservative

I already called this as a pointless bill because while it incentive for companies to come home, that 20% tax cut is nullified by Obamacare as it stands... in essence this bill would allow Obama to look " private sector friendly" and nothing more.

Explain how it nullifies the tax credit...PLEASE.

I'm in the mood for some crazy right wing logic...so let's here it.

reply to post by LoonyConservative

I shouldn't have to show you 3 years after the man got elected.. its all here, on ATS. you just refuse to see it because Obama seems to be your man.

You made the claim skippy...so you show the proof.

By your response, it is clear you just repeat any crap propaganda you hear from right wing talk shows and you really have no freaking idea what the hell you are talking about.

reply to post by artnut


No it is not a tax increase on companies that are already outsourcing. Those tax breaks they received were a one-time break to move their company's jobs overseas. It is not an ongoing tax break. This bill would, however, stop rewarding companies with tax breaks for closing down a job center (shop, facility, etc.) and re-opening it in another country and employing their citizens instead of our own. This bill would have no impact on a company that is expanding overseas either. Example, Ford Motor Co. opens a new manufacturing facility in Europe to produce cars that are sold in Europe. That is not outsourcing. Outsourcing is closing a facility or job center in America and transferring those American jobs to another country. Now if Ford were to close a parts plant in Alabama and then reopen that same parts plant in Mexico, employing Mexican labor, and then shipping those parts back to the US, that is outsourcing, and that is the sort of thing this bill would stop rewarding with our tax dollars.

Guys, look up a page or two from here - it's a tax increase all around, that's all it is. That's why it was shot down by the republicans.

"Is a rose by another name still not a rose?"

Tax increases take many forms, especially in election years.

-- If you bring jobs back here, you get a one time credit towards the cost of bringing them to the US. Either way you still have to spend that money to bring them here though.

-- Once those jobs are here, there is no break or waiver from paying the increased income, social security, and medicaid taxes.

-- If you don't bring the jobs here, the currently deductible amounts of your overseas operating costs will become NON-deductible and you'll be taxed higher because of it.


THIS BILL WAS NOT TO BRING JOBS HOME. THIS BILL WAS TO RAISE TAXES ON MULTINATIONAL CORPORATIONS.

Originally posted by OutKast Searcher
reply to post by LoonyConservative

 

they can reject it because A.) yes it gives a tax incentive to bring jobs back. B.) but that incentive is nullified by Obamacare.

Please explain how Obamacare will "nullify" the tax credits from this bill.

This should be entertaining.

Its interesting that you cant see it. Businesses are already afraid of the extra costs Obamacare will burden them with. The CBO has come out and said the initial costs estimates of OC were wrong that will will actually cost 1 trillion plus. who will have to cover these costs? the middle and upper class, small and large business's. this is how a mere 20% will be nullified.

reply to post by gncnew

Guys, look up a page or two from here - it's a tax increase all around, that's all it is. That's why it was shot down by the republicans.

First time I ever heard of a 20% tax break called a tax increase. But then again I don't employ reich-wing logic in "how to undermine your own country by giving financial incentive to those who take jobs away from it", either.

Originally posted by Blackmarketeer
reply to post by artnut

 

No it is not a tax increase on companies that are already outsourcing. Those tax breaks they received were a one-time break to move their company's jobs overseas. It is not an ongoing tax break. This bill would, however, stop rewarding companies with tax breaks for closing down a job center (shop, facility, etc.) and re-opening it in another country and employing their citizens instead of our own. This bill would have no impact on a company that is expanding overseas either. Example, Ford Motor Co. opens a new manufacturing facility in Europe to produce cars that are sold in Europe. That is not outsourcing. Outsourcing is closing a facility or job center in America and transferring those American jobs to another country. Now if Ford were to close a parts plant in Alabama and then reopen that same parts plant in Mexico, employing Mexican labor, and then shipping those parts back to the US, that is outsourcing, and that is the sort of thing this bill would stop rewarding with our tax dollars.

The real rewards for moving jobs overseas are as follows:

1. Lower wages (slight reward)
   
2. No matching income taxes to pay (big reward)
   
3. No matching Social Security to pay (Massive reward)
   
4. No FICA to pay (Insane reward)
   
5. No mandatory insurance policies that you have to split costs for (biggest reward of all)
   

Originally posted by OutKast Searcher
reply to post by LoonyConservative

 

I shouldn't have to show you 3 years after the man got elected.. its all here, on ATS. you just refuse to see it because Obama seems to be your man.

You made the claim skippy...so you show the proof.

By your response, it is clear you just repeat any crap propaganda you hear from right wing talk shows and you really have no freaking idea what the hell you are talking about.

lol keep searching for w/e makes sense man.. no wonder you hold the moniker of outkast

Originally posted by Blackmarketeer
reply to post by gncnew

 

Guys, look up a page or two from here - it's a tax increase all around, that's all it is. That's why it was shot down by the republicans.

First time I ever heard of a 20% tax break called a tax increase. But then again I don't employ reich-wing logic in "how to undermine your own country by giving financial incentive to those who take jobs away from it", either.

Math time:
I will spend $700 million to move my company's operations back to the US. The IRS grants me a $140 million credit towards next years taxes... YAY!

Uh-oh! It's next year, now I get no credit... and I have to pay matching income taxes, FICA, Social Security, and Medical Insurance... but that dang IRS isn't giving me any more Tax "Breaks" ... Booo!

Think for a second beyond the front of your nose.

The whole thing is a net GAIN for the Federal Government in tax revenue. It's like me paying you $100 to start paying me back $50 a year for the rest of your life... sounds like a pretty good deal eh?

Originally posted by Blackmarketeer
reply to post by gncnew

 

Guys, look up a page or two from here - it's a tax increase all around, that's all it is. That's why it was shot down by the republicans.

First time I ever heard of a 20% tax break called a tax increase. But then again I don't employ reich-wing logic in "how to undermine your own country by giving financial incentive to those who take jobs away from it", either.

Dude... this law gives a one time break of 20% for companies to being back jobs to the us right? ok.. what that legislation does not say, is that those companies that come back will NOT be subject to Obamacare. its all in the wording.. this thing looks good at first but read between the lines.

and besides all we have to do to penalize outsourced companies to to tax their imports.

reply to post by LoonyConservative


So that is your evidence backing your claim that Obamacare will nullify the tax breaks proposed in this bill?
Sound stuff man.

CJ