posted on Aug, 19 2012 @ 09:42 AM
so has anyone that even remotely understands how business works, or has ever taken any economics classes actually read the bill? It does nothing but
create a talking point for the upcoming election cycle.
It provides up to a 20% tax credit only for the costs related to a relocation for that taxable year. The federal and state taxes are the same rates,
and it does not apply to any employee related expenses such as pensions, benefits or wages.
So, you tell a multi national business that you want them to bring jobs back and they need to expand or build a new plant to do it and you will give
them 20% off of taxes on the costs of that expansion or new plant. So, yeah, who in their right mind would do it? The billions of dollars just
sitting stagnant in overseas accounts are still sitting there, they are not going to bring it back, why would they? Would you bring back your 10
billion dollars to give the federal government 5 billion of it and then another billion or so to the state you are in? Sounds pretty stupid and anti
business to me.
Jobs are overseas because the federal government makes it too cost prohibitive to manufacture anything here. When you have the corporate income tax,
property tax, licensing , compliance with the staggering amount of regulations on everything, and I mean everything. You do realize that every action
conducted at your work place has some form a regulation put on it by some federal agency don't you? OSHA telling you that the toilet paper holder
has to be a certain height etc. These regulations cost the company in fees and licensing. Then the EPA gets involved with more regulations. Then the
health department and the state dept of labor, and on and on. Then the county and city tax commisioners . everywhere you turn the governement is
draining more and more money from all businesses. Manufacturing in America is just plain old fashioned too expensive to do, so why do it?? You really
think spending billions of dollars in expanding an existing plant or building a new plant and receiving a 20% tax credit is going to entice them to
it? If they did do it, they were either planning on doing it prior to this legislation or they were complete morons one or the other.