From Reuters – Obama: End tax breaks for firms that offshore jobs
By Bill ~ February 24th, 2009 @ 8:57 pm
WASHINGTON (Reuters) – U.S. President Barack Obama on Tuesday pledged to end tax breaks for corporations that send U.S. jobs overseas.
“We will restore a sense of fairness and balance to our tax code by finally ending the tax breaks for corporations that ship our jobs overseas,” Obama said in advance excerpts from an address to a joint session of Congress.
Finally an Obama Policy that I can agree with.
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2 Responses to From Reuters – Obama: End tax breaks for firms that offshore jobs
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About the Author: Bill is a 51 year old IT Professional who enjoys political blogging in his spare time after work and after the daily grind at the gym.
February 25th, 2009 at 12:26 pm
I do agree with this policy as well but will this help stop companies from shipping jobs overseas? I sure hope so.
February 25th, 2009 at 8:39 pm
Will it help? That depends on whether the tax breaks more than make up the salary differences between Americans and overseas workers. It is all about the bottom line and if the bottom line is better keeping the tax breaks and losing the savings from cheap labor then it will help. If not, then it won’t.