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View Diary: Romney's Denial That There Is A Tax Break for Shipping Jobs Overseas: True or False? (31 comments)

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  •  Huh?? (1+ / 0-)
    Recommended by:
    hungrycoyote

    Can you or can you not take a deduction for the business expenses entailed in moving a plant overseas?

    The answer is yes, you can.  And for all the desire to re-write what he said into something else so that it can be declared false, that's all President Obama said.  He didn't say anything about a "special" deduction.  He didn't say anything about the same deduction not applying to other business expenses.  It's disingenuous in the extreme to call his statement false on the basis that some may choose to understand him to have said something entirely different from what he actually said.

    “What’s the use of having developed a science well enough to make predictions if, in the end, all we’re willing to do is stand around and wait for them to come true?” - Sherwood Rowland

    by jrooth on Thu Oct 04, 2012 at 02:27:27 PM PDT

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    •  Under that logic (3+ / 0-)
      Recommended by:
      hungrycoyote, johnny wurster, VClib

      I also get a deduction for painting the walls of a business purple, or for buying green carpet.  I can come up with a zillion things that are deductible as a business expense, but I wouldn't call it a "deduction for painting your walls purple" or a "deduction for buying green carpet."  That would be misleading, as if the law treated purple walls or green carpet in some special way.  I'd call it a deduction for a business expense.  

    •  And what the President said today is (3+ / 0-)
      Recommended by:
      VClib, hungrycoyote, nextstep

      that there are "such laws that encourage outsourcing."  (I just saw the tape and was struck by that.)

      To call the deduction for business expenses, allowing you to deduct physical moving expenses (a very very small number) "laws that encourage outsourcing" as if people decided to move facilities just so they could get the deduction for moving expenses really IS misleading.  

      •  President's "stretch" (to put it kindly) is found (3+ / 0-)
        Recommended by:
        VClib, hungrycoyote, nextstep

        http://abcnews.go.com/... at that link

        "The Mitt Romney we all know," he said, had invested in companies that sent jobs overseas. "The guy onstage last night, he said that he doesn't even know that there are such laws that encourage outsourcing."
        If he's talking about the fact that you can deduct moving expenses as a business expense, it really is a stretch (to put it kindly) to talk about that as a "law that encourages outsourcing."  
        •  Obama didn't say "tax laws", he said "laws". And (1+ / 0-)
          Recommended by:
          hungrycoyote

          he only said "encourage", a word that's one of the more ambiguous in our language.

          Romney, Obama, and yourself are all doing massive amounts of "stretching", but the other two are politicians, so thay at least have an excuse.

          There can be no protection locally if we're content to ignore the fact that there are no controls globally.

          by oldpotsmuggler on Thu Oct 04, 2012 at 07:21:22 PM PDT

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