A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Hum tax break for sending work oversease - see the problem yet?

Posted: Sep 13, 2013

Instead of giving companied incentive to keep work in this country, they are now rewarded with leaving. And you wonder why we are losing our jobs. Look to the all powerful all knowing federal gvt..

what tax break are you talking about? - nm

[ In Reply To ..]

The President wanted to offer incentive to keep jobs here, but guess who voted against it... - Realist

[ In Reply To ..]
Obama claimed that â��companies that are shipping jobs overseasâ�� get tax breaks, saying that they â��can actually take a deduction for moving a plant overseas.â�� Which is allowed by law when companies incur moving expenses either in the States or outside.

Not only that, but "the tax code has long allowed U.S. corporations doing business abroad to defer paying taxes on any of their â��unrepatriated income.â�� That is to say that the revenue earned by the companyâ��s foreign subsidiary remains untaxed by the IRS until that money is brought back to the parent company in the U.S.
Sometimes politicians also refer to this as a â��tax break for shipping jobs overseas.â�� ... this part of tax law could motivate companies to move business abroad.

â��This can provide a huge incentive for locating jobs and income abroad, since many tax haven countries have tax rates that are very low, even approaching zero, and thus the money can grow abroad â��tax freeâ�� until it is repatriated,â�� she said."

something Republicans conveniently forget - or ignore nm

[ In Reply To ..]
nm

Had - this

[ In Reply To ..]
discussion with my dad the other day, in his usual hate Obama rant. He totally shut up on that subject.

I see the OP can't answer that question - sm

[ In Reply To ..]
Absent an answer from the OP, I can only conclude she is confused. I have the feeling she is talking about the tax break Obama offered to corporations to REPATRIATE their money BACK to the U.S. FROM off shore.

Since so many companies KEEP THEIR PROFITS off shore, Obama offered to give them a tax break if they brought their MONEY BACK to the U.S. Companies like Pfizer, for example.

Tax break - sending work overseas

[ In Reply To ..]
I believe this practice has been occurring since the 1990s.

Thank the Bush administration for that... - Anonymous

[ In Reply To ..]
n

wishing for the days of the McKinley Tariff!!!!!!! - need an Obama tariff lol

[ In Reply To ..]
x

Touchy aren't we, never said Obama admin - Said almighty gvt

[ In Reply To ..]
They are ALL a bunch of thieves both parties...

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