Senate Republicans blocked a bill that would end tax breaks for companies that send jobs overseas.

Senate Republicans block bill to end tax breaks for outsourcing

Read more: http://thehill.com/blogs/floor-action/senate/213780-republicans-block-bi...
On Wednesday, the Senate voted 54-42 to end debate on S. 2569, the Bring Jobs Home Act — 60 votes were needed to advance the measure.

Sens. John Walsh (D-Mont.) and Debbie Stabenow (D-Mich.) introduced the bill, which would give companies incentives to bring jobs back to the United States, including a tax write-off for the relocating costs and an additional 20 percent credit.

Currently, U.S. companies can deduct from their corporate taxes some expenses of moving facilities overseas. Democrats said 2.4 million jobs have been outsourced in the past 10 years.

“It is wrong that American workers subsidize a corporate decision to pack up American jobs and ship them overseas,” Walsh said Wednesday. “That’s bologna.”

Senate Vote 240 - S.2569: On the Cloture Motion How they voted.
http://politics.nytimes.com/congress/votes/113/senate/2/240

No votes yet

When you bother to look at the issue, it's just one assumption or stupidity after another. But that doesn't fit Mr Not-So-Independent's agenda.

Generally, businesses are allowed to deduct certain expenses from their incomes. That means something like relocation can be deducted. Hey America, you like having a complicated tax system! That's just the way it is. So companies can deduct the expenses of sending their facilities overseas.

This bill offered ANOTHER tax break, for re-relocating those facilities to the USA.

So in the Conservative handbook, of course this would be voted down. We reward companies for relocating overseas, then reward them for coming back. It's insane.

Time to whip out those crying towels again, Liberals! You'll never admit what's really wrong with our tax system, since too many of you try to capitalize on Byzantine rules anyway. So I guess you'll just have to whine about these sort of events.

My proposal is to end all of these sort of deductions. If you relocate your company, big biz or small, that's your decision, buddy. You shouldn't be allowed to deduct relocation cost from your business income.

And capital gains should be taxed just the same as income.

I agree, naturally. Wages, capital gains, inheritances, interest income, dividends... all of these things should be taxed at the same rate.

You shouldn't expect any thread started by Paul to have any thought to it. He just posts what his masters tell him to. It's sad really, someone not being able to think for themselves.

MikeyA


Michael Arthur AKA MikeyA the troll

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

According to AC, putting someone's name in the subject line is trolling behavior.

So using that logic, it's you who is the troll.

I shall patiently wait AC's open complain to Chris on your post.

MikeyA

I didn't know you had a couple tall glasses of Toledo water to kill your brain cells, Mikey. You couldn't possibly be trolling by pretending to be so stupid as to recognize the difference between mentioning someone ALREADY IN THE DISCUSSION and CALLING OUT SOMEONE WHO HASN'T SAID A WORD ON THE STORY BEING DISCUSSED.

You're better than that sort of dickheaded behavior, ACT like it.

How am I calling you out? I didn't put your name in the subject line.

Paul did though.

MikeyA

All you did was discount the person who posted the information.
GZ aka Mr. Empty Glass, had some interesting points, with which I mostly agree. (When he isn't being all "the sky is falling" negative, Mr. Empty Glass has some interesting analyses.)

It was Ronald Reagan who called for capital gains income to be taxed at the same rate as earned income, if the effective income tax rate would be lowered, as it was during his Presidency. Mr. Empty Glass throws inheritance taxes into the mix as well. Good for him! As I stated to one of my Republican friends, who owns a truly "small" business, "Why should you pay a higher tax rate for running your successful business, than investors do for investing successfully in a giant corporation?" Close the loopholes! Simplify the tax forms! The current federal income tax system amounts to a full-employment bill for accountants and tax attorneys.
"Momma, don't let your sons [or daughters] grow up to be cowboys [or cowgirls]." Have them become CPAs instead!

Oh no Dale. You're putting people's usernames in the subject line. AC is going to complain for trolling behavior.

Any minute now....

Still waiting....

He is really passionate about this...

MikeyA

All Comrade Apparatchik DOES is drop names. Almost like the way a regular parasite looks for a perfect host to attach itself to.

I guess you think of him as a RINO, G-MAN.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.