The Democrats offered $3 in spending cuts for every $1 of tax increases. The GOP turned it down.After the recovery AND AFTER WE ADDRESS THE SPENDING I would agree. Spending at +/-25% of GDP is unsustainable.
What SPECIFIC tax breaks do they get for going overseas? The section 199 reference I gave you earlier promotes DOMESTIC activities.
9/21/2010--Introduced.Creating American Jobs and Ending Offshoring Act - Amends the Internal Revenue Code to:
(1) exempt from employment taxes for a 24-month period employers who hire a employee who replaces another employee who is not a citizen or permanent resident of the United States and who performs similar duties overseas;
(2) deny any tax deduction, deduction for loss, or tax credit for the cost of an American jobs offshoring transaction (defined as any transaction in which a taxpayer reduces or eliminates the operation of a trade or business in connection with the start-up or expansion of such trade or business outside the United States); and
(3) eliminate the deferral of tax on income of a controlled foreign corporation attributable to property imported into the United States by such corporation or a related person, except for property exported before substantial use in the United States and for agricultural commodities not grown in the United States in commercially marketable quantities."
S.3816: Creating American Jobs and Ending Offshoring Act - U.S. Congress - OpenCongress