| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Obama’s Assertion That Companies Get Tax Breaks To Ship Jobs Overseas Is A Political Ploy He Never Does Anything About
Saturday, October 6, 2012 13:13
% of readers think this story is Fact. Add your two cents.
THE CLAIM: Today, Obama Presented As Fact
The Notion That There Are “Tax Breaks To Corporations That Move
Jobs And Profits Overseas.” OBAMA: “He says there’s no way that he
would close the loophole to give — that gives oil companies billions each year
in corporate welfare. Any tax breaks to corporations that move jobs and profits
overseas, he had never heard of such a thing. Who knew? Who knew?” (President
Barack Obama, Presidential Debate, Denver, CO, 10/5/12)
THE FACTS: “ Under
Present Law, There Are No Tax Credits Or Disallowance Of Deductions Specific To
Locating Jobs In The United States Or Transferring Jobs Overseas.”
“Under present law, there are no tax credits or disallowance of
deductions specific tolocating jobs in the United States or transferring jobs
overseas. However, Congress has providedvarious credits to encourage certain
activities or behavior and has disallowed deductions to curtail behavior deemed
inappropriate or to discourage certain economic choices.” (“Descriptions Of
Revenue Provisions Contained In The President’s Fiscal Year 2013 Budget
Proposal,” Joint
Committee On Taxation, p.73, 6/12)
Present Law, There Are No Tax Credits Or Disallowance Of Deductions Specific To
Locating Jobs In The United States Or Transferring Jobs Overseas.”
“Under present law, there are no tax credits or disallowance of
deductions specific tolocating jobs in the United States or transferring jobs
overseas. However, Congress has providedvarious credits to encourage certain
activities or behavior and has disallowed deductions to curtail behavior deemed
inappropriate or to discourage certain economic choices.” (“Descriptions Of
Revenue Provisions Contained In The President’s Fiscal Year 2013 Budget
Proposal,” Joint
Committee On Taxation, p.73, 6/12)
- The Actual Tax
Provision Obama References Would Raise Only $17 Million A Year, Or What You’d
“Call A Rounding Error” With Obama’s $1 Trillion Annual Budget Deficits.
“Moreover, it is pretty small potatoes given the attention Democrats
pay to it. The JCT estimated that ending the deduction for moving operations
overseas would raise just $168 million over a decade. In the federal government
with an annual budget deficit of more than $1 trillion, that’s what you call a
rounding error.” (Glenn Kessler, “Factchecking The First Presidential Debate Of
2012,” The
Washington Post ‘s The Fact Checker , 10/4/12)
OBAMA HAS RECYCLED THIS PROMISE FOR YEARS
2004: Obama Said He Wanted To Ensure That
“We Close Tax Loopholes To Companies Moving Jobs Overseas, And Making Them
Invest Right Here In The United States.” (State Sen. Barack Obama, Remarks
In Illinois Senate Debate, Chicago, IL, 10/21/04)
“We Close Tax Loopholes To Companies Moving Jobs Overseas, And Making Them
Invest Right Here In The United States.” (State Sen. Barack Obama, Remarks
In Illinois Senate Debate, Chicago, IL, 10/21/04)
2007: Obama Said “ That’s
Why We’ve Got To Stop Giving Tax Breaks To Companies That Send Jobs Overseas.” (Sen. Barack Obama, Remarks
At Campaign Event, Columbus, OH, 10/26/07)
Why We’ve Got To Stop Giving Tax Breaks To Companies That Send Jobs Overseas.” (Sen. Barack Obama, Remarks
At Campaign Event, Columbus, OH, 10/26/07)
2008: Candidate Obama Again Presented His
Economic Plan As One That Ends “Tax Breaks For Companies That Ship Our Jobs
Overseas And Give Them To Companies That Create Jobs Here In America.” (Obama For America Ad, “Barack
Obama: Defining Moment,” 10/24/08)
Economic Plan As One That Ends “Tax Breaks For Companies That Ship Our Jobs
Overseas And Give Them To Companies That Create Jobs Here In America.” (Obama For America Ad, “Barack
Obama: Defining Moment,” 10/24/08)
EVEN AS PRESIDENT, OBAMA USED THE SAME TALKING
POINT
POINT
2009: Obama Said “ We
Need To Stop Giving Tax Breaks To Companies That Stash Profits Or Ship Jobs
Overseas…” (President Barack Obama, Remarks
On Taxes, Washington, D.C., 4/15/09)
Need To Stop Giving Tax Breaks To Companies That Stash Profits Or Ship Jobs
Overseas…” (President Barack Obama, Remarks
On Taxes, Washington, D.C., 4/15/09)
2010: Obama Said “That’s
Why We Want To End Tax Breaks Going To Companies That Are Shipping Jobs
Overseas… Remarks
By The President At Finance Reception For Congressman Sestak , Washington,
D.C., 9/20/10)
2011: Obama Said
That Voters Have A Choice To “ Go Back To The Ideas We
Tried In The Last Decade — Where Corporations Got To Write Their Own Rules And
The Most Fortunate Among Us Got All Of Our Tax Breaks, And Jobs Got Shipped
Overseas… (President Barack
Obama, Remarks
By The President And The First Lady At A DNC Event , New York, NY, 9/20/11)
Why We Want To End Tax Breaks Going To Companies That Are Shipping Jobs
Overseas… Remarks
By The President At Finance Reception For Congressman Sestak , Washington,
D.C., 9/20/10)
2011: Obama Said
That Voters Have A Choice To “ Go Back To The Ideas We
Tried In The Last Decade — Where Corporations Got To Write Their Own Rules And
The Most Fortunate Among Us Got All Of Our Tax Breaks, And Jobs Got Shipped
Overseas… (President Barack
Obama, Remarks
By The President And The First Lady At A DNC Event , New York, NY, 9/20/11)
OBAMA’S RHETORIC ON INSOURCING TAX BREAKS ARE A
“FANTASY”
“FANTASY”
TRUTH:
FactCheck.org: “Obama’s ‘Jobs Overseas’ Fantasy, Again” (Brooks
Jackson, Lori Robertson, Joe Miller and Viveca Novak “Closing Arguments: Obama,”
FactCheck.org,
11/3/08)
FactCheck.org: “Obama’s ‘Jobs Overseas’ Fantasy, Again” (Brooks
Jackson, Lori Robertson, Joe Miller and Viveca Novak “Closing Arguments: Obama,”
FactCheck.org,
11/3/08)
FactCheck.org:
The Tax Breaks That Obama Is Referring To Have Nothing To Do With Why Companies
Ship Jobs Overseas. (Justin
Bank, “Obama’s Trade Trickery,” FactCheck.org,
9/26/08)
The Tax Breaks That Obama Is Referring To Have Nothing To Do With Why Companies
Ship Jobs Overseas. (Justin
Bank, “Obama’s Trade Trickery,” FactCheck.org,
9/26/08)
- Factcheck.Org:
“Eliminating This Incentive Would Have Very Little Effect On U.S.
Employment .” (Brooks Jackson, “A
False Tax Attack,” FactCheck.org,
4/9/10) - Factcheck.Org: “As
We’ve Been Saying For More Than Four Years Now… Eliminating Them Won’t Do Much
To Keep Jobs In The U.S.” ” (Brooks Jackson,
Lori Robertson, Joe Miller and Viveca Novak “Closing Arguments: Obama,” FactCheck.org,
11/3/08)
2012-10-06 13:06:50
Source: http://www.americanfreedombybarbara.com/2012/10/obamas-assertion-that-companies-get-tax.html
Source:
