Romney 2012?

The Obama Truth Team is part of the Obama Biden web site. Any of those can be looked up and verified.

How Romney's Plan Would Reward Foreign Outsourcing

During his tenure as president, Obama took a lot of criticism for his lack of private-sector business experience. To counter those attacks, he created two economic panels — the Council on Jobs and Competitiveness, and the National Commission on Fiscal Responsibility and Reform (known as Simpson-Bowles). The president appointed business executives to the CJC specifically to demonstrate that his policies were based on the expertise of the private sector.

What do they have to say about Romney's tax proposal? ABC's Jake Tapper reported that both of these two presidential advisory boards recommended exactly what Romney proposed. So did a third economic panel, the Export Council. Boeing CEO Jim McInerny wrote for the private-sector members of the Export Council in December 2010, urging Obama to adopt a "competitive territorial tax system for the United States" that ""should broadly follow the practice of our trading partners and should not be designed to raise new revenue." In the same month, the Simpson-Bowles commission wrote that the current U.S. tax system put American businesses at a disadvantage abroad, thanks to the foreign-tax issue.

And what about President Obama's own Council on Jobs and Competitiveness, formed to enhance common perception about Obama's economic policies? The panel not only supports the territorial tax plan proposed by Romney, it made the same argument at the end of last year that the lack of such reform kept badly-needed capital overseas — capital that could fuel job creation in the U.S., and protect American firms from foreign takeovers:

"[The territorial-tax reform] would eliminate the so-called lock-out effect in the current worldwide system of taxation that discourages repatriation and investment of the foreign earnings of U.S. companies in the United States. The current worldwide system makes investing these earnings in the United States more expensive from a tax point of view than reinvesting them abroad where they are not subject to additional corporate tax. These members believe that a territorial system would enhance the ability of U.S. companies to acquire foreign companies and would eliminate tax incentives of U.S. multinationals to merge with or sell their foreign operations to foreign companies. This would also reduce the vulnerability of domestic firms to takeover bids by foreign firms operating with lower tax rates. According to this view, a lower corporate tax rate and the adoption of a territorial system would increase the competitiveness of U.S. companies relative to their foreign counterparts in the United States and elsewhere, adding to the U.S. jobs that are needed to grow and support global growth."

Instead of making the case that Romney will increase off-shoring, Obama's refusal to adopt the territorial tax system that Obama's own advisers have repeatedly proposed makes the case that Obama can't grasp the problem at all. Furthermore, if Obama attacks Romney as an "outsourcer" and extremist in economics on this basis, the existence of these proposals within his own administration will deepen the impression that Obama's ethics make him just another politician willing to say anything to get re-elected, and incompetent on economics to boot. For a candidate whose main campaign promise was to change that very impulse in Washington, and whose economy has gone into serious retreat, that will all but eliminate any argument Obama has for a second term.

Lets look in on the experts and what they have to say...

Corporate Tax Reform andTerritoriality

The 2011 Simpson-Bowles report and the report of the
President’s Export Council recommended that the United
States move to a territorial tax system. We recognize that
corporate tax reform, however, won’t happen without some
fundamental issues being resolved.
Many members of the Council agreed that the United
States should move to a territorial system of taxing corporate
income akin to the practices of the other developed
economies. Territoriality would eliminate the so-called
lock-out effect in the current worldwide system of taxation
that discourages repatriation and investment of the foreign
earnings of U.S. companies in the United States. The current
worldwide system makes investing these earnings in the United States more expensive from a tax point of view
than reinvesting them abroad where they are not subject to
additional corporate tax.
These members believe that a territorial system would
enhance the ability of U.S. companies to acquire foreign
companies and would eliminate tax incentives of U.S. multinationals
to merge with or sell their foreign operations to
foreign companies. This would also reduce the vulnerability
of domestic firms to takeover bids by foreign firms operating
with lower tax rates. According to this view, a lower
corporate tax rate and the adoption of a territorial system
would increase the competitiveness of U.S. companies relative
to their foreign counterparts in the United States and
elsewhere, adding to the U.S. jobs that are needed to grow
and support global growth.

The 2011 Simpson-Bowles report

Whatever. None so blind as those that will not see.

Why bother replying? You don't seem interested in having a discussion about this stuff. No rebuttal to the propaganda being spread, refusing to read the evidence disputing it when presented, just scoffing it off.

Your post deserved an eyeroll, so that's what it got.

Quote:

The 2011 Simpson-Bowles report

That's as far as I needed to read to know that I was looking at some bullshit. Simpson-Bowles was a complete failure; there WAS NO REPORT issued by that commission. Only a piece put out by the two who ran it after the commission failed in its task.

It's just the same warmed-over GOP message, repeated as a panacea for all problems, no matter what they look like: lower taxes, everything will be great!

What more, that same article relies on Rasmussen opinion polling without ever acknowledging that they are essentially a GOP polling organization. Every one of their polls is designed to produce a more conservative response than any of the other major polling outfits out there. It's hard to take stuff like this seriously - sure isn't an unbiased viewpoint.

Cycloptichorn

the chairman of his Export Council, Boeing CEO Jim McNerney, writing on behalf of the private-sector appointed members of the Council, called for a “competitive territorial tax system for the United States,” one that “should broadly follow the practice of our trading partners and should not be designed to raise new revenue, or to destabilize the U.S. corporate tax base, but rather to make the US tax system more competitive with its major trading partners.”

You mean this report? Looks like a report to me. Read it.

A report was released on December 1, 2010,[3] but failed a vote on December 3 with 11 of 18 votes in favor, with a supermajority of 14 votes needed to formally endorse the blueprint.[4]

Ignoring the rest because it includes a report from Rasmussen? Lame.

the chairman of his Export Council, Boeing CEO Jim McNerney, writing on behalf of the private-sector appointed members of the Council

I know, I know, more GOP BS... I understand your unwillingness to read it.

This attack will just be another rung in Romney becoming the next President. Obama's campaign is falling apart and the people will recognize the desperation.