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Are you for or against this proposal by Obama?

Posted: May 9, 2012

Obama's wish list includes a number of proposals that he has outlined previously but have failed to gain traction in Congress, including eliminating tax incentives for companies that ship jobs overseas. What say all ye MTs, yea or nay? Email your representatives in Congress.

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i'm for it... - sm

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The president wants to make it less attractive for U.S. companies to send jobs overseas. Republicans continue to vote against the proposal (brought by democrats) to discontinue tax breaks to companies that offshore. Why would they do such a thing?

so the "dislike" is in favor of offshoring? - what's to dislike?

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I thought we were all in the same boat. We want jobs to stay in America. I mean, don't we? I just don't get it.

The dislikes are probably not MTs and will dislike ANYTHING - that Obama is for. nm

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I would think citizens of all stripes would want jobs to stay in the U.S. - nm

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Complete assumption without any facts - No way to

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to know what part of post may not be liked, and your post ASSUMES you know why someone "disliked" that post without any knowledge on your part. If a poster writes a response, no matter how valid their opinion, the Obama supporters go after them like a pit bull after a steak. Just look at your response. Enjoying your steak?

then I would welcome a response from the "disliker" - I'm for it

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I agree with you about assumptions, too.

Not OP but found your post interesting - Conservative

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I would welcome any reform limiting tax breaks overseas, by either party. The migration of jobs became a stampede under Clinton, who gave massive tax cuts and incentives to companies relocating overseas, as part of his first 100-day agenda. As we all know, it has progressively gotten worse. Obviously, if there were no tax incentives, a lot of these MTSOs, I would hope, bring our jobs back. It would appear that this would actually make it better for the MTSOs since fewer people would be required to handle the same job and would probably cut way back on QA/QC for these companies. That is assuming QA/QC is still a concern, since that seems to have taken a down turn. Thanks for post; it was thought provoking in several arenas.

Do you think its the tax breaks that get MTSOs... - Zville MT

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to send work overseas or that they have to pay those workers half or less than half of what they pay in the US? I have no idea what the percentage is of tax breaks companies get and I'm all for getting rid of those breaks, but I'm not sure that would solve the problem entirely. I have a friend in India and he's excited to take an MT job for 3 cpl - that's a lot of money to him.

To Zville - Conservative

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You are right about the pay being an incentive, but I think those tax breaks and incentives go a long way. I recently was reading an article about the Indian transcriptionists kicking up a lot of dust lately over their wages. If these MTSOs have to appease OS with higher wages, and lose the tax incentives and breaks, it becomes less and less attractive to send the work OS. I have been trying to locate labor and wage information to determine where the stop/loss would CPL-wise be for the MTSOs to send the work OS. If you find anything, please let me know.

Are you kidding? The biggest MTSOs are now owned - by Indian companies. nm

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So your point? Nothing to do with OP statements - ,,,

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Okay, so the tax breaks really mean nothing to them, then. - Zville MT

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What about the ones that aren't owned by foreign countries?

Still bound by our tax laws - Local, state, etc

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Poster you are responding to I seriously doubt has a tax degree. If you operate a business in the USA, even if you are foreign born, you still have a tax obligation here. Obviously, the more income you move out of the borders of the USA, the less you pay in USA taxes. The tax obligation is switched to the "host" country of where the income was moved to, if they have a tax. Take a look at GE balance sheet, virtually no tax paid for an American company, operated by an American, that took full advantage of USA tax law and incentives to move income out of the USA. Just because an Indian buinessman buys an American company, until he moves that operation/income out of the states, he is still required to fill out tax forms and pay appropriate taxes to all legal entities (i.e., local, state, borough, municipalities). The more incentives/tax breaks he gets to move his income out of the USA, the less he pays in USA taxes. Their comment was very misleading because has nothing to do with the nationality of the owners of a company and everything to do with where the income is generated and the tax jurisdiction on that income.

Tax breaks - Conservative

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Since we are now with the highest corporate tax in the world, I would expect to see even more of these global companies, including MTSOs, moving the bulk of their operations to avoid that coporate tax structure. Also, overseas operations will not be bound by the tax mandates for their foregin employees under Obamacare, which is a major plus for them. That alone (Obamacare), if it stands, will save someone the size of MModal literally millions a year, providing even less incentive for any of these MTSOs to base the majority of their financial structure in America.

Mmodal? Nuance? Can't verify your claim - nm

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Absolutely for it! - VTMT

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