Let's talk Romney's published "financial plan"

[Riot]

One opinion on Romney's stated goal to stop taxing offshore profits via implementation of a "territorial tax system".

How Romney would ship jobs overseas

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.

Continued

http://www.progressive.org/romney-wo...-jobs-overseas

[geeker2]

Obama’s own Commission on Fiscal Responsibility and Reform, aka, the Simpson-Bowles Commission came out in favor of a "territorial tax system".

Erskine Bowles:

“..…If we stay on a worldwide system and you almost force companies to leave those dollars overseas, then naturally if they’re going to have to pay a big tax on those dollars to bring them back, I think the likelihood is more probable that they’re going to create the jobs somewhere else rather than here. That’s one of the principal reasons I support a territorial system in addition to the fact that everybody else in the world has gone to it with the exception of us.”

Who is Roger Bybee?

[Riot]

Originally Posted by geeker2

Obama’s own Commission on Fiscal Responsibility and Reform, aka, the Simpson-Bowles Commission came out in favor of a "territorial tax system".

Erskine Bowles:

“..…If we stay on a worldwide system and you almost force companies to leave those dollars overseas, then naturally if they’re going to have to pay a big tax on those dollars to bring them back, I think the likelihood is more probable that they’re going to create the jobs somewhere else rather than here. That’s one of the principal reasons I support a territorial system in addition to the fact that everybody else in the world has gone to it with the exception of us.”

Who is Roger Bybee?

Are you in favor of a "territorial tax system?" Whether you are, or are not, will color who you vote for this fall, because it's a pretty damn big thing regarding the future of this economy. So you probably need to make up your mind rather quickly.

I'm not. Romney is. Obama isn't.