Tuesday, July 24, 2012

Outsourcing American Jobs

Did you know that the U.S. tax code rewards companies for outsourcing American jobs overseas? Well it does. It does it by allowing the cost of moving the jobs overseas to be deducted as a business expense.

If you think this sounds idiotic then you agree with senate Democrats and four senate Republicans, Scott P. Brown of Massachusetts, Susan Collins and Olympia J. Snowe of Maine, and Dean Heller of Nevada, that the senate should vote on bill S. 3364, sponsored by Senator Debbie Stabenow, D-Mich., which would end that tax break while continuing to allow a deduction for jobs returned to this country or moved within the United States.

Unfortunately, Senate Republicans have filibustered that bill and an attempt at closure, which requires 60 votes, failed 56-42 with every single Republican senator, other than the four noted above, voting against cloture.

The hypocrisy of the Republican Party, crying about Obama not doing enough about jobs while the stinking 3% reduction in the marginal tax rate, which they claim is going to trickle down jobs any day now, continues to do nothing but provide the 1% with money to invest overseas, and supporting a tax break through filibuster for moving jobs out the country is simply staggering.

But what is more staggering is the total obliviousness of the American electorate as to WTF is going on. If you’re making less than $250,000 a year, then you’re are being screwed by the Republicans on a daily basis and are really going to get taken to the cleaners if we’re idiotic enough to elect Mitt Romney.

I continue to be amazed at the stupidity of the Republican base which gets all up in a lather about the nickels and dimes from their paychecks being spent on welfare or food stamps but ignores the fact that Republican policies are preventing $10s and $20s from ever getting into their paychecks.

Where I come from we call that nickel wise and dollar foolish.

No comments: