During the town hall presidential debate, one native of New York posed an important question to Mitt Romney: “What plan do you have to put back and keep jobs in the United States?” When it comes to outsourcing, the difference between the candidates could not be more stark: President Obama is the only candidate with a plan to bring jobs back home.
But rather than telling voter the truth, Romney offered the complete opposite assessment of what his policies would do:
“We have made it less attractive to stay here than to go offshore from time to time. What I will do as president is make sure its more attractive to come to America again. This is the way we’re going to create jobs in this country.”
Here’s the problem: Romney’s policies would not accomplish what he promises. Romney is proposing tax reforms that would eliminate U.S. taxes on foreign profits companies earn overseas, which critics say “would prompt U.S. to shift offshore even more income than they already do.” According to one economic analysis, this could result in 800,000 jobs created offshore instead of here at home. And by slashing investments in education, innovation, clean energy, and infrastructure, Romney would make the United States a less attractive place for companies to invest and to hire.
And these policies reflect a pattern. Just take a look at his professional record:
Governor: Vetoed a bill that would’ve prevented Massachusetts from sending state jobs overseas, and signed a contract that included a call center in India.
Corporate buyout specialist: Invested in companies “that were pioneers in the practice of shipping work from the United States to overseas call centers and factories” in countries including China and India.
President Obama has a clear plan to encourage companies to insource jobs. He supports closing corporate loopholes and tax breaks that encourage outsourcing, and creating a tax credit that rewards companies that bring jobs back to the United States. He’s also signed multiple tax credits to help growing U.S. industries create more jobs and remain globally competitive. These steps have already resulted in more companies looking to bring jobs back to the United States—and the President’s policies would build on that progress.
Find out more about where the candidates really stand on on job creation here, then share the facts with your friends.