Clinton actually tries to walk back her “businesses don’t create jobs” statement
Hilarity from Hillary. Really? Really? Hillary Clinton’s statement at the Elizabeth Warren event was clear as day. It was clear and concise, and now liberal news outlets are claiming she fumbled the line?
No, she didn’t.
Now, she “clarifies” her statement and websites like Buzzfeed help her along.
Clinton said in her speech that corporations that outsource jobs or move profits overseas should not be granted tax breaks. The clarification made clear that the remark was a botched line — not new messaging from Clinton, who has honed a new stump speech during a series of rallies ahead the election next month.
Fine. Let’s assumed she flubbed the line. Now she is saying corporation who outsource jobs or move profits oversees should not be granted tax breaks. From Dan Calabrese over at Best of Cain.
The only reason businesses “stash their profits overseas” is that the United States foolishly maintains a tax on repatriated profits. Companies who operate abroad and make money abroad can hang on to the money they earn there only if they keep it there. If they try to bring it back, they have to pay a tax on it. Solution: Repeal the tax on repatriated profits and watch as capital floods into the U.S. economy.
The entire “hiding cash and profits in offshore accounts” is a total crap argument. If they make money in the US, they pay taxes in the US. If they make money overseas, they pay appropriate taxes overseas. Companies are following the rules and regulations forced upon them by the government.
The task of a U.S. corporation is to limit its costs while maximizing the value and marketability of what it produces. If overseas providers of labor, goods or services prove to be a better option, then that is the right option to choose.
And it’s not just moving operations overseas, it also applies to moving to different counties within the same state or moving to different states.
Democrats like Gov. D.P. Malloy (D-Conn.) promote his own First Five “jobs creation initiative” with short-term bribes to get businesses to come to Connecticut, yet when other states or countries offer lower taxes and a better business climate to attract business investment, fellow Democrats like Clinton go nuts. Remember when the National Labor Relations Board threatened Boeing because they wanted to make jets in South Carolina?
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