I have yet to hear a candidate talk about the real solution to bringing jobs back to this country. We need to eliminate the foreign tax credit for corporations.
With the price of oil the way it is, even not paying for labor overseas, it cannot make sense to ship cotton from the United States to China to be made into fabric and clothing, and shipped back. The only way possible has to do with the foreign tax credit. If we eliminated that, we could afford to lower corporate taxes as well, allowing businesses to grow. Not only that, but we'd be more secure, producing more products at home. With a weakening dollar, we may even benefit from exports.
So when is someone going to ask candidates about something that will change the economy, instead of putting a small bandage on a gaping wound?
Peter Buchy, Hephzibah
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Good point Peter. Problem being, how do you punish businesses now who moved pieces of their business overseas under the current administration, after being enticed with huge tax savings. I dislike that it has happened in so many industries but then ask myself, if I was the decision maker, would I have done it? The answer is yes as people are in business to make money. I say stop offering new incentives and then create a time-table for those who already made the move to either pull back or lose those credits.