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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (124988)	10/24/2012 6:25:36 PM
From: Sr K	Respond to of 149317

When lobbying last time (during the Bush Administration), companies said it would lead to jobs growth. Instead they used it for stock buybacks. Congress (the Senate) was deceived. So it is a tough sell. Google wants it. Apple wants it. Yahoo, too. Even Dell. But it is a tug of war, whether to do it for a 5% tax (like last time), a 10% tax or at what rate. If Romney said just let them repatriate, he's a jerk as a federal official and was speaking like a lobbyist. It might depend on what hat he was wearing and when he said it. Romney: If you want to bring your money home, please bring it home. It will be done at a rate at least 5%, probably higher, and be tied to higher U.S. employment or investment. IMO. It will have strings attached. 5% is at least $50 billion (there is more than $1 trillion). Chambers and others have already said they would repatriate a lot if they could do it for 5%. They're not asking for it to be free. If companies paid 18% on those earnings, repatriating them might cost them 7% if the new forward rate is dropped to 25%. It should be coordinated with tax policy, and the corporate tax rate reductions. If the rate stays at 35%, companies will still find better investments outside the U.S. What do you mean, "Why should other countries benefit from the enormous profits of American companies"? This is cash and marketable securities. What Google earns about 1% on and Apple earns about .30% on. To a small degree, companies make acquisitions by using their non-US cash. Non-US cash and near-cash.

To: RetiredNow who wrote (124988)	10/24/2012 7:10:00 PM
From: ChinuSFO	1 Recommendation Read Replies (2) \| Respond to of 149317

Talk about repatriation of profit from overseas is all baloney. When US companies make profit overseas, they want to keep those funds overseas so that they can keep creating jobs there. I worked for a large biotech company with extensive manufacturing operations overseas, Philipines, China, Singapore and very soon India. The VP very blatantly told us that they had no intention of bringing the profits back here. Instead thay wanted to acquire more manufacturing outfits overseas with that money and build there. Now they are moving into India. So that talk to me is all baloney. Just today, during the a.m., I met some hiring managers in a major Biotech company here in the SF Bay area (hint Don Rumsfeld was their CEO before he left and joined the W Administration.) The meeting was to hire me as a consultant. They have 8 open positions for permanent hire for the past year and they are unable to find qualified folks to fill those positions. They thought that they could sponsor foreign personnel but the Labor department is not giving them the clearance to do so. So now go figure why Obama has in his job creation plan all those higher education funding. And these are high paying jobs, well into 6 figures for someone with 7 to 10 experience. MM, you may have noticed that I don't read blog sites and allow myself to get carried away. I keep my ears to the ground and then form my opinions. That is why I support Obama's jobs plan that he put out yesterday. What we see happening in the job market is a "managed bankruptcy" scenario that Romney said should happen with the auto industry, But instead of the auto industry, it is happening with the American economy which is very different than the auto industry. It is all about obsolecense of the American workforce. Tell me how many of our graduating folks from the high tech and biotech are unemployed. We do not have any place for lathe operators. But we surely have opening for lathes that are numerically controlled through automation, the one that Obama calls Advanced manufacturing. Obama has his heads on his shoulders. He has a very clear of America ten years down the line. That is why he could come back so fast with his "horses and bayonet" retort to Romney's old fashioned ideas of strength. Can't believe that Romney's ideas of buildup of t he US military is even worse that Donald Rumsfeld. I can understand Cheney not knowing the difference between silicon chips and potato chips. But Romney thinking that way!!!