Tax breaks for exporting jobs?

[jaysouth]

I keep hearing obama and others in his party say "we've got to eliminate the tax breaks that businesses get for exporting jobs".

 

Does anyone know exactly what these tax breaks are?  I am not in the tax compliance business, but am 'conversant' with tax laws that pertain to the businesses that I am around, and cannot find a single exemption, deduction or credit for "exporting jobs".

 

What is he talking about?

[sigmtnman]

Just some thoughts, but...

 

The workers in the foreign country do not pay income tax and the company does not have to pay FICA or FUTA.

 

More than likely though, they are talking about it being a tax break because they want to tax companies who export jobs and since they currently are unable to, it is in essence a "tax break" to them.?.?

Edited January 29, 2014 by sigmtnman

[jaysouth]

A 'tax break' is something you can declare on your income tax returns.

 

 

Foreign workers are just that "foreign", meaning another country.  Our workers, working for an American subsidiary of Bosch, Siemens, etc, do not pay any taxes to Germany, although they work for a nominal German company.

 

How would you tax a company that exported a job?  Per head, per unit of revenue earned in another country?

[A.J. Holst]

I think you are on to something, the tax break  maybe the inability for guv'mint to collect payroll taxes on foreign workers in addition to all the other "fees" levied on business for the privilige of having employees.

 

Since the business is not paying for those folks, it is obviously a tax break, just like repealing the Bush tax cuts - they expired and it was rightfully guv'mint money long before that no good Bush took it out of the coffers and re-distributed it to the folks who paid it in.

 

It's like slamming GE for a "zero" tax burden on zillions of earning; resulting from the manufacturing and selling high efficiency appliances. I am all for efficiency to perserve resources, but who exactly pushed this initiative? Who exactly told business we will give you tax credits for following the initiative? Why is it GE's fault that everyone went out, embraced this initiative  and got new energy efficient appliances? Finally, who offered tax credits to tax payers for buying high efficient appliances, autos, hvac, etc?

Edited January 29, 2014 by Gotthegoods

[sigmtnman]

A 'tax break' is something you can declare on your income tax returns.

 

 

Foreign workers are just that "foreign", meaning another country.  Our workers, working for an American subsidiary of Bosch, Siemens, etc, do not pay any taxes to Germany, although they work for a nominal German company.

 

How would you tax a company that exported a job?  Per head, per unit of revenue earned in another country?

 

Most folks understand what a "tax break" is, but words don't have real meaning when coming out of the mouths of liars politicians.

Edited January 29, 2014 by sigmtnman