OK, 'splain this to me: A company with a plant in the United States decides that it benefits their bottom line to close it and move production overseas to somewhere with cheaper labor and operating costs. So they hand out pink slips, ship all their equipment to the new overseas site (or sell it off as scrap), turn out the lights, and take a one-time tax write-off for shutting down that factory.
Here's where I get lost....Why are the American taxpayers subsidizing them (through the tax write-off) to ship American jobs overseas? If they want to offshore their operations, that's their business, but why are we taxpayers subsidizing it? The very people who are getting laid off are paying to get laid off!
Am I understanding this right?
Why can't Congress just re-write the tax code to disallow this subsidy? If you close a US plant, you don't get a write-off. If you open a US facility, you get a subsidy. You reward creating US jobs, not sending them away.
Oh, wait....the businesses that are benefiting from the offshoring write-offs are the same ones who are contributing BIG $$$$$ to Congress to say "thanks" for their....umm...."understanding" in these tough times. *atta boy, Congress....way to represent your constituents*
Now that I think about it, I guess I do understand.
Nevermind.
S
