Let's talk Romney's published "financial plan"

[Riot]

One opinion on Romney's stated goal to stop taxing offshore profits via implementation of a "territorial tax system".

How Romney would ship jobs overseas

Forget About Romney’s Taxes. Focus instead on how he would reward companies to ship jobs overseas and dodge U.S. taxes.

There has been precious little discussion in the media on one of the most dangerous and devastating features of the Romney-Ryan tax plan: the complete elimination of taxes on the overseas operations of U.S. corporations.

The Romney home page calls for the nation to “switch to a territorial tax system,” which translates into an end to taxation of the profits piled up offshore by American-based corporations. This radical step would create huge incentives to ship U.S. jobs overseas, where they would never face U.S. taxes, and to manipulate corporate earnings reports to claim that profits generated in the U.S. were actually produced offshore.

Continued

http://www.progressive.org/romney-wo...-jobs-overseas