
Author: Stonewashed Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1947660  
Subject: Re: Romney might have won the debate. Date: 10/4/2012 6:15 PM
Recommendations: 1
If Chicago is awake at all Flip may be rocked with some counterpunches. Now no one can know what his policy positions are today, but there's tape out there showing he wants a 20% income tax cut and elimination of a couple other taxes. Barring appearance of Dope's revenue fairy that can't be revenue neutral;the arithmetic won't work. He's flipped again.

Then there was his response to the president opposing repeal of tax breaks for offshoring: "I have no idea what you're talking about".

Lying on video is risky. I've assumed that Chicago has a fault full of ads showing Mitt flipping. Those plus videos of him lying in debate can leave him looking unappealing to people who want to know what they're voting for when they go to the polls. Flip's vulnerable

Except he didn't lie. They don't get a tax break for moving overseas. They get a tax write off when closing a plant down, as the cost of doing business. No different thatn if they moved from NY to some other state. Once there they don't have to pay taxes on the money until it enters back into the US.

The bigger issue underlying the debate is how the federal government taxes the overseas income of companies headquartered in the U.S. Under current law, U.S. companies are taxed on the income they earn around the world. They get tax credits for payments to foreign governments and don’t have to pay the U.S. tax until they bring the money home. Obama has proposed limits on that deferral, arguing that it provides an incentive to invest overseas rather than in the U.S.

Obama sometimes uses the “shipping jobs overseas” language to mean both the narrow and bigger change.

The Facts: Obama exaggerates by making a tax deduction for regular business expenses and a central feature of the U.S. international tax system sound like special breaks for shipping jobs overseas.


Moreover no different than what saunafool does.

If Obama would have been on his toes he could have challenged Romney on a few things. But he wasn't on his toes. He was working from crip sheets with canned replies about things he really has no understanding about.
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