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   How Romney Would Ship Jobs Overseas

NEWS INFORMATION

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Parent

News Date

9/22/2012 8:00 am

Author

Roger Bybee

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Analysis

Database Record

Entered 9/25/2012, Updated 9/25/2012

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Forget About Romney’s Taxes. Focus instead on how he would reward companies to ship jobs overseas and dodge U.S. taxes. There has been precious little discussion in the media on one of the most dangerous and devastating features of the Romney-Ryan tax plan: the complete elimination of taxes on the overseas operations of U.S. corporations. The Romney home page calls for the nation to “switch to a territorial tax system,” which translates into an end to taxation of the profits piled up offshore by American-based corporations. This radical step would create huge incentives to ship U.S. jobs overseas, where they would never face U.S. taxes, and to manipulate corporate earnings reports to claim that profits generated in the U.S. were actually produced offshore.


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