Tuesday, May 05, 2009

How to destroy American jobs

Obama spent his first hundred days demonizing bankers and brokers, and generally stirring up a populist firestorm in favor of clawing back their obscene earnings. It appears that the target for the next hundred days is any American company with an overseas operation--which is to say, the very corporations upon which America's economic dominance depends. Guess what right-wing publication had this complaint about the president's new campaign?

In practice, applying the matching principle to overseas operations could put American companies at a competitive disadvantage to foreign companies that do not face United States tax laws. It could even impede job creation in the United States--exactly the opposite of what the Obama administration intends.
Kudos if you knew it was the editorial page of the New York Times. Blue skies! -- Dan Ford


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