So…Mitt Romney wants to outsource jobs huh?
Well…That’s the battle cry from liberal/socialists right now. Obama is saying it. Debbie What’s-her-name Schultz is saying it. Jay Carney…liberals in Congress, liberal pundits…They’re ALL saying it.
They even have an ad airing that says it.
Mitt Romney is the great OUTSOURCER…..RUN…RUN FOR YOUR LIVES!!!
Hang on…Hold everything…
Maybe we should pay a visit to Realityville.
Did Mitt Romney, while at Bain Capital, outsource jobs?
Yes. Yes he did.
Did he outsource EVERY job he came across?
Nope. No, he didn’t.
People should know what outsourcing is. When you have an answering service picking up calls when your office is closed…That’s outsourcing.
Obama and his merry band of parrots don’t know the difference between outsourcing and off shoring, and they’re hoping you don’t know the difference either.
Off shoring is when you sent what were once American jobs to another country.
Yes, there is a BIG difference.
Sooooo…Why, one wonders, would Mitt Romney or Bain Capital “outsource” (or off shore)…ANY…jobs at all?
Well…Bain and, therefore, Mitt Romney, were in the business of making money. There’s a term for that.
Okay…Bain CAPITALISM…In business to make money…Take a look at existing businesses, many of which are in trouble and…They try to find a way to restructure those companies or, if the situation is so bad there’s no coming back, they close them.
Now then, sometimes, it simply makes a lot more sense to outsource rather than keep certain portions of a business in house. Many companies outsource back-office operations, accounting, shipping, etc., because it frees up the IN house end to focus on the business of being productive.
When does it make sense to off shore?
Well, before we get into THAT…it seems appropriate to again provide some definition to what’s happening.
Let’s say, for instance, Coca Cola opens a bottling plant in China. Is that off shoring?
That’s expansion into a new market. It makes sense to open such a plant where you’re selling the product, doesn’t it? It’s certainly less expensive than shipping billions of full bottles of Coke from the U.S. to China and the money comes BACK to the U.S. doesn’t it?
So…Off shoring is when a company, once based in the U.S. packs up and moves, lock, stock and barrel, to another country, shutting down their operations, lock, stock and barrel IN the U.S.
Has any of THAT gone on a Bain Capital?
Yes…Some. But there are a couple of very important questions to be answered regarding this. First…Why?
In most cases of off shoring, the reason is simple. It’s a combination of Taxes and profits and MOST of it is taxes. As a company grows, the corporate taxes make it prohibitive to continue operations in the U.S. when corporate tax rates elsewhere are much lower or simply nonexistent.
When the cost of DOING business nears or exceeds the profit FROM the busines,s some companies have a couple of choices…Either go OUT of business or…Move the business to a geographic location where the cost of doing business is acceptable.
The other question, regarding Bain Capital(ism) and off shoring is…WHEN?
The vast bulk of such decisions at Bain if not ALL of them took place after 1999. Why is THAT important? Well, because while Mitt Romney FOUNDED Bain Capital, he LEFT the management end of that company IN 1999 to focus on saving the Salt Lake Olympics and, after that, to delve into politics.
Nearly all, if NOT all of the off shoring done by Bain Capital(ism) was done WITHOUT Romney at the helm.
Okay…Given all of this, where exactly does Mitt Romney stand on the very thing which drives businesses to off shore?
The U.S. economy’s 35 percent corporate tax rate is among the highest in the industrial world, reducing the ability of our nation’s businesses to compete in the global economy and to invest and create jobs at home. By limiting investment and growth, the high rate of corporate tax also hurts U.S. wages.
- Cut the corporate rate to 25 percent
- Strengthen and make permanent the R&D tax credit
- Switch to a territorial tax system
- Repeal the corporate Alternative Minimum Tax (AMT)
So…What is Obama’s plan in regard to Corporate Taxes?
Obama unleashed HIS plan back in 2009. Under the Obama plan…Companies that EXPAND…such as in our example, Coca Cola, in overseas markets, would pay the tax collected by the country into which the American company expanded…PLUS…the difference between that tax and OUR 35% corporate tax!!!
THAT is a system which makes it silly to be BASED in the U.S. but far more attractive to…pick up everything, lock, stock and barrel and MOVE to another country altogether.
After Obama failed to get the necessary votes in the senate for THAT measure, he outlined a NEW plan in March of 2012.
Under the “new” plan, companies with overseas operations would also face a minimum tax on their foreign earnings, while taxes on oil and gas companies would have THEIR taxes go up while losing deductions.
Combined with Obama’s proposed hikes in capital gains taxes and hikes on taxes for the wealthy (i.s. those who actually create jobs) the Obama plan is STILL a punishment for success.
So…In Realityville…The very guy Obama and his parrots are claiming is the “outsourcer” when what they mean is “Off shorer” is actually proposing a plan by which OUR corporate tax system would be LOWERED thus making it more attractive for companies to stay ON shore rather than move OFF shore keeping more jobs IN the United States than moving them to other countries.
Now, I’ve always said, if you want to know what liberals are up to…Just pay attention to what they accuse conservatives of doing. To illustrate that point, consider the following.
Obama is MUCH more the “OUTSOURCER” or “OFF SHORER” that is Mitt Romney.
Obama made Jeff Immelt his “Jobs Creation Advisor and Immelt then closed, lock stock and barrel, GE’s X-Ray division and…Moved it to China.
THAT is OFF SHORING what was once American jobs to another country…and a COMMUNIST country at that…By Obama’s JOBS CREATION ADVISER.
Later this month…Obama, by a stroke of his pen, may just OFF SHORE your 2nd Amendment rights to the United Nations.
Obama has OUT SOURCED our military to NATO and the United Nations.
Obama has also OUT SOURCED our national interests in the Israeli/Egypt Peace Accord to the Muslim Brotherhood.
Finally, consider this: If Bain Capital(ism) had, under Romney or after Romney left, packed up an entire company and sent it to Mexico, Obama’s current attacks would label it “Outsourcing” and use it against Romney HOWEVER…Just weeks ago, it was Obama who, by Imperial order…IMPORTED between 800,000 and 1 million ILLEGAL Mexican workers INTO the United States job market.
Now then…WHO exactly is the “OUTSOURCER???”