Obama Warned Us – Tax Code

We’ve got a tax code that is encouraging flight of jobs and outsourcing. And that’s why we’ve specifically recommended … that Congress change our tax code so that we stop giving tax breaks to companies that are moving to Mexico and China and other places, and start putting those tax breaks into companies that are investing here in the United States.

BARACK OBAMA, debate, Oct. 12, 2004

“Technically, a bankrupt solar power firm isn’t shipping jobs overseas.”

5 Comments

hey, barry

how about we stop giving tax breaks to anyone and use the tax system for raising revenue, not handing out favors and social engineering. it would be nice to also limit the revenue raised to the things specifically outlined in the Constitution.

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” we stop giving tax breaks to companies that are moving to Mexico” We’ll wait until Mexico finishes moving here and then give them minority tax breaks.

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Report: Billions in Green Energy Stimulus Funding Given to Foreign Corporations
Daily Caller | January 18, 2013 | Michael Bastasch

A congressional report found that foreign companies have been large beneficiaries of stimulus funds and received billions of dollars funds meant to promote green energy development and create jobs in the United States. The House Energy and Commerce Committee staff examined Treasury Department data and found that nearly one-quarter of the $16 billion in Section 1603 green energy grants went to a handful of large European and Asian renewable energy companies. “Billions of dollars have filled the coffers of overseas firms while the evidence of the promised permanent jobs and economic growth here in the United States is scarce,” . . .