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Stop Outsourcing: Obama
Bangalore: In his annual State of the Union address, President Barack Obama pledged to make millionaires pay higher taxes and said, “My message is simple. It’s time to stop rewarding businesses that ship jobs overseas, and start rewarding companies that create jobs right here in America. Send me these tax reforms, and I’ll sign them right away.”
“Right now, companies get tax breaks for moving jobs and profits overseas. Meanwhile, companies that choose to stay in America get hit with one of the highest tax rates in the world. It makes no sense, and everyone knows it. So let's change it.” He made his plan simple and straight - “if you’re a business that wants to outsource jobs, you shouldn’t get a tax deduction for doing it. That money should be used to cover moving expenses for companies that decide to bring jobs home. No American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas. Every multinational company should have to pay a basic minimum tax and every penny should go towards lowering taxes for companies that choose to stay here and hire here.” Obama said.
