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Reply to "Shipping jobs to China... Who's correct?"
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[quote=Anonymous]Thanks for the information and I did read the link too. From the little I've read about it over the past few minutes, it seems that the "tax break" though is simply a deduction for moving expenses the same as other business expenses. So this is not a special tax break for companies that send work overseas, it's a tax break that's available to all US businesses. And it's minuscule from the wsj removing that tax deduction under Obama's proposal would raise $168 Million over the next ten years (averages to $16.8 Million per year) while corporate taxes are expected to raise $237 Billion this year alone. In the grand scheme of this the amount is so paltry that perhaps time should be spent finding other ways to tax corporations if the goal is to get more money from them. I don't think either candidate gets a star for this one, in my book.[/quote]
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