Protecting American Jobs: Rhetoric vs. Reality
Yesterday's Wall Street Journal editorial, "The Send Jobs Overseas Act," revealed a common problem with recent Democratic policies: legislation intended to protect or create jobs has the opposite effect. President Obama wants to change the way overseas income from American companies is taxed. While he says this is to protect American manufacturing, this would actually disadvantage American companies and potentially lead to more foriegn acquisitions of domestic manufacturing firms. The best way to make America more competitive is to reduce a corporate income tax that is the second highest in the developed world. Even liberal economists and Charlie Rangel (D-NY) have conceded that this tax is hurting American companies.
Posted by Pitts Press Office (09-28-2010, 08:49 AM) filed under Economy