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Sen. Toomey off base

October 5, 2013

I am responding to an opinion piece in your paper on September 7, 2013, regarding Senator Toomey's comments at a Town Hall meeting....

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(32)

USABorn

Oct-05-13 2:00 AM

Toomey is a RINO that has brown-nosed Obama from his first day in office.

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gavinf56

Oct-05-13 5:46 AM

"The bill would have permitted the deduction for any business expenses incurred from the cost of relocating jobs back to the United States." - John A. Mussare

This is already a deduction as part of a companies operating expenses. Why do you need another piece of legislation that is absolutely useless?

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gavinf56

Oct-05-13 5:54 AM

Interesting that you have this letter along with today's headline article "Legislator, students at foundry". One sees the Government as needing to be a bigger factor, the other sees the Government as an impediment. I wonder which of the 2 are business owners.

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eriklatranyi

Oct-05-13 6:27 AM

We have learned over the last five years that Democrats know nothing about creating jobs.

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Capricorn1

Oct-05-13 6:30 AM

I have a real problem with letters such as these that attempt to judge the leadership abilities of congressional leaders by the way they vote on one certain issue. Especially sine they usually do not include both sides of the argument. They appear to be too much like campaign ads. Personally I use votesmart dot org to get an overall picture of a representative, that includes their voting records for past bills and floor speeches they may have given regarding those bills. I find that to be much more informative to base my opinion on than letters such as these that are nothing more than partisan rhetoric.

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sideliner

Oct-05-13 6:40 AM

I'm sure, Gavin, the business owner wants a smaller government, fewehr regulations, etc. In an ideal world i would agree. But so many businesses fail to be accountable and conscionable without regulation.

Case and point: Yesterday's article about new legislation to ensure gas well owners aren't cheating property owners out of due rroyalty payments. Without the goverment telling them to do the right thing, they just wouldn't.

So yes, Gavin. It is clear which side of the fence the business owner is standing.

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gavinf56

Oct-05-13 7:10 AM

That is fine sideliner, but then we need to accept the fact that our manufacturing sector is going to have a difficult time competing with imports, and no amount of legislation "to entice" our manufactures back is going to bring them back if no one is going to buy their products.

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gavinf56

Oct-05-13 8:21 AM

So wouldn't this be another form of "corporate welfare" that the left so often complains about?

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eriklatranyi

Oct-05-13 8:25 AM

Francine:

Protectionism does not work.

Look at Japan. Their economy is highly protected from imports, yet they have suffered recession and stagnation for over 25 years.

It is painful to watch good domestic companies suffer from imports.

The costs of taxes and compliance with regulations consume too much for smaller companies to remain competitive.

Larger companies can absorb the cost a bit easier.

That is why high taxes and additional regulations only benefit corporations and the wealthy over small business and the middle class.

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Capricorn1

Oct-05-13 8:28 AM

Francine, I never stated that he is wrong in his assessment of this issue. But to be fair the writer failed to mention that Toomey was an avid supporter of The Jumpstart Our Business Startups (JOBS) Act, which allowed more small businesses to expand and hire more employees. Does the Bring Jobs Home Act really address the issues of why companies choose to move offshore? Democrats blame it strictly on greed, yet fail to address the rising costs of manufacturing at home due to increase regulations and labor costs. In turn making it difficult to compete with foreign imports. I would be willing to bet that the same people that are against these companies, are the same people that take advantage of their products at a cheaper cost.

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gavinf56

Oct-05-13 8:30 AM

"Republicans were considering supporting the insourcing bill until Senate Majority Leader Harry Reid (D-Nev.) said he wouldn't include any GOP amendments." - Source: The Hill, 7/19/12

All of the bills sponsor were Democrats and they wanted no Republican input. Imagine that (sarcasm font).

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gavinf56

Oct-05-13 8:33 AM

So it's corporate welfare until it's not corporate welfare.

The only thing the bill tried to do was eliminate standard business deductions for moving jobs offshore, while providing an additional 20% business credit for moving them back. It did absolutely nothing to help an American based manufacturer to compete in the market.

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gavinf56

Oct-05-13 8:49 AM

Business expenses and income derived offshore and not brought back to the US isn't taxable, so you cannot "tax" that offshore labor if the company keeps that money offshore anyway.

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gavinf56

Oct-05-13 8:49 AM

Have a good day at work Francine.

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CMReeder

Oct-05-13 8:50 AM

"Toomey is a RINO that has brown-nosed Obama from his first day in office."

LOL

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CMReeder

Oct-05-13 8:51 AM

Republicans don't create jobs ever. They cut them.

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Capricorn1

Oct-05-13 8:56 AM

Republicans don't create jobs ever. They cut them. -Reeder

Chuck you're lucky Shaman is a liberal or he would be calling you a tea bagger with your "absolutes".

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gavinf56

Oct-05-13 8:58 AM

"Republicans don't create jobs ever." - CMReeder

Koch Brothers (the left's heads start exploding).

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Ritty77

Oct-05-13 9:11 AM

"The Bring Jobs Home Act would have created an 'insourcing expense credit' equal to one-fifth of expenses related to shutting down a business overseas and re-establishing it in the United States.

If enacted, this measure would have joined the pantheon of awful, politically motivated tax credits.

Good tax policy targets easily measurable actions. But it's hard to tell when a business unit is being relocated and when, instead, some old operation is being dismantled and replaced by a substantially different operation. Corporations constantly move in and out of different lines of business in places around the world.

The tax credit would have meant that taxpayers could pay for 20 percent of the costs of dismantling failed foreign units and setting up new but only vaguely related units in the United States...

continued>

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JohnZook

Oct-05-13 9:14 AM

Sounds like a "clean" Democratic bill. No Republican amendments but how much went to the unions? Another "Democrat only" bill passed on to the President?

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Ritty77

Oct-05-13 9:14 AM

"The credit would have created bizarre corporate incentives. Imagine a company that's deciding between establishing a factory costing $1 million in Honduras and establishing a $10 million factory in Massachusetts. The greater productivity here might well offset the higher costs.

But under the Bring Jobs Home Act, a smart company would open first in Honduras, then shut down and then relocate to the Bay State. The firm would get $2 million in tax credits, which would more than offset the cost of the Honduran operation. The tax code would encourage businesses to start a foreign operation first -- by subsidizing the cost of later switching to the United States.

The act would provide a credit even for fully automated factories. But why should we provide tax credits for units that employ nobody?...

continued>

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Ritty77

Oct-05-13 9:14 AM

"At first glance, the other half of the Bring Jobs Home Act might seem more sensible. Under current law, companies get a tax deduction for moving expenses; the proposed act would eliminate that deduction when a company moves a U.S. operation overseas.

In practice, though, this proposal is another invitation for corporate obfuscation, since it is easy to present plant relocations as the closing and opening of two different operations."

—Edward L. Glaeser, a professor of economics at Harvard University

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underwood

Oct-05-13 9:59 AM

Governments shouldn’t be in the business of coercing or enticing companies; they should be in the business of assuring a proper environment for businesses to operate in. Things like the rule of law, taxes and regulations applied without favoring some supporters or special interests over others would go a long way in accomplishing that. There’s nothing wrong with levying an import tax as a cost of doing business in our marketplace.

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eriklatranyi

Oct-05-13 1:17 PM

This tax credit would only benefit large corporations who could fill out the required paperwork and hire attorneys to file that paperwork with the government.

Small companies would not benefit.

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eriklatranyi

Oct-05-13 1:19 PM

Mr. Reeder:

Republican jobs.....just look at the average unemployment rates in red states versus blue states.

Red states drill for oil and gas, promote economic activity and keep taxes & regulations low.

That is proof enough. But you will never accept what is clearly obvious to everyone else.

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