So what incentives are their for moving "Youngstown jobs" to Mexico, Singapore or anywhere else? President Obama attempted to paint Governor Romney as the man who likes to ship jobs overseas. So what are the facts?
If you move your plant from Austintown to Sharon, you can write off the costs of that move just as you can any other legitimate business expense.
Governor Romney said I have been in business for 25 years and I would love to know what those incentives for moving jobs overseas are? President Obama in trying to show Romney as the job exporter must have been referring to the same costs that can be expensed for any business move.
In fairness congress, has tried to eliminate this write off to no avail. The Joint Committee on Taxation estimated getting rid of this "write off" would save 168 million over the next decade. Hardly enough money to dissuade a company hell bent on moving out of the U. S.
Bottom line, if you heard president Obama talk about incentives to move jobs overseas you likely thought our country has a rule that encourages moving your company out of the United States. I think he was misleading the public and Romney called him on it, and I am glad I have had a chance to confirm Romney was telling the truth. Just the Facts.
Write me: DanRivers@ClearChannel,com