Obama: Stop Republican Outsourcing of American Jobs
October 16, 2010
(ChattahBox Political News)—President Obama hit it out of the park with this weekend’s address, by calling out Republicans for their un-American policies that reward companies for shipping American jobs overseas. Republican support of the outsourcing of our jobs has come to the public forefront with the revelation that the U.S. Chamber of Commerce, a right-wing partisan organization that supports multinational and foreign companies that outsource American jobs, is spending $75 million in secret money to sway this year’s elections by funding mostly Republican candidates. Obama points out that “Over the last four years alone, Republicans in the House voted 11 times to continue rewarding corporations that create jobs and profits overseas – a policy that costs taxpayers billions of dollars every year. The President is proposing a comprehensive policy agenda that would close the tax loopholes rewarding corporations for sending jobs overseas.
President Obama touted the recently passed jobs bill that finally made it through the Senate after it was continually blocked by Republicans. He points out that his new policies to encourage American ingenuity and entrepreneurship would ensure that companies keep jobs here at home.
“But government still has an important responsibility. And that’s to create an environment in which someone can raise capital to start a new company; where a business can get a loan to expand; where ingenuity is prized and folks are rewarded for their hard work. That’s why I fought so hard to pass a jobs bill to cut taxes and make more loans available for entrepreneurs. It eliminated the capital gains taxes for key investments in small businesses.” [...]
“But for years, our tax code has actually given billions of dollars in tax breaks that encourage companies to create jobs and profits in other countries.”
Obama proposes the closing of outsourcing tax loopholes, while encouraging new research and development and green technology in America.
“I want to close these tax loopholes. Instead, I want to give every business in America a tax break so they can write off the cost of all new equipment they buy next year. That’s going to make it easier for folks to expand and hire new people. I want to make the research and experimentation tax credit permanent. Because promoting new ideas and technologies is how we’ll create jobs and retain our edge as the world’s engine of discovery and innovation. And I want to provide a tax cut for clean energy manufacturing right here in America. Because that’s how we’ll lead the world in this growing industry.”
Sounds great, right? Republicans don’t think so. The GOP continues to support big business against the interests of middle class Americans.
“These are commonsense ideas. When more things are made in America, more families make it in America; more jobs are created in America; more businesses thrive in America. But Republicans in Washington have consistently fought to keep these corporate loopholes open. Over the last four years alone, Republicans in the House voted 11 times to continue rewarding corporations that create jobs and profits overseas – a policy that costs taxpayers billions of dollars every year.”
Republicans love to talk about job creation, while at the same time they support policies that ship our jobs to India, China and elsewhere. Giving the wealthiest Americans unfunded tax cuts will not magically create jobs.
“We should give tax breaks to American small businesses and manufacturers. We should reward the people who are helping us lead in the industries of the future, like clean energy. That’s how we’ll ensure that American innovation and ingenuity are what drive the next century. That’s how we’ll put our people back to work and lead the global economy. And that’s what I’ll be fighting for in the coming months.”
Now, that’s a presidential Saturday address that’s worthy of applause. President Obama just provided us with a road map to prosperity. But will the sure to be in November, more right-wing leaning Congress listen? After shelling out $75 million to get Republicans elected, the U.S. Chamber of Commerce will expect something in return from these new tea party lawmakers.
Photo Source: White House Flickr