A Quote by Barack Obama
Having a tax code that rewards companies that are shipping jobs overseas instead of companies that are investing here in the United States, that will not make us more competitive.
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The tax code rewards corporations for outsourcing jobs, and their profits overseas, instead of investing here in the United States.
We've got a tax code that is encouraging flight of jobs and outsourcing. And that's why we've specifically recommended in this campaign 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.
In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States. Many American investors properly made use of this deferral in the conduct of their foreign investment.
We really believe that we can bring about changes in the tax code that will make America more attractive for investment and job creation and business. But the president has also made it very clear that he wants to put - he wants to put new elements in the tax code that are going to have companies pay a price if they decide to take jobs out of the country and then sell their goods back into the United States.
Now you have a choice: we can give more tax breaks to corporations that ship jobs overseas, or we can start rewarding companies that open new plants and train new workers and create new jobs here, in the United States of America.
Mitt Romney is familiar with jobs being shipped overseas because he invested in companies that were shipping jobs overseas.
Instead of creating new jobs, Republicans gave tax cuts to companies that send jobs overseas.
The other thing that's really important in tax reform is making sure that we don't tax American businesses at much higher tax rates than our foreign competitors tax theirs. It is costing us jobs. It's one of the reasons all these American companies are moving overseas.
The potential of Mexico, Canada and the United States is enormous. We have a combined population of half a billion people; peaceful trade-friendly borders that are the envy of the world; the prospect of energy independence is within reach and will change the geopolitical situation of United States; we do a trillion dollars in trade among the three countries; more than 18,000 American companies are involved in foreign direct investment in Mexico and Canada; an increasing number of Mexican companies are creating jobs in the United States.
I believe we need a balanced, bipartisan approach to debt reduction that includes a combination of spending cuts, investments in economic growth, and simplification of the tax code that closes corporate loopholes that incentivize companies to ship jobs overseas.
The law, right now, permits companies that close down American factories and offices and move those jobs overseas to take a tax deduction for the costs associated with moving the jobs to China or India or wherever.
In my job I meet many outstanding, world class, British based companies. But we need more companies and more jobs in the companies we have.
The foundation of Ontario's economy is our skilled workers and innovative companies. Our government will continue its proactive approach to partnering with business and industry, investing strategically to help companies grow and create jobs in this period of economic uncertainty.
Presidents must be willing to fight for American jobs and should set a central goal of federal policy of creating an environment that rewards companies for investing here and discourages them from moving abroad.
I'm tired of seeing American jobs, manufacturing, and headquarters forced overseas due to a tax code that works against us.
Companies should not have a singular view of profitability. There needs to be a balance between commerce and social responsibility... The companies that are authentic about it will wind up as the companies that make more money.
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