Toro
Diamond Member
There is no offshoring tax break. The tax code taxes profits, not revenues. Expenses reduce profits and thus reduce taxes. Liberals are arguing that expenses are tax breaks. That's silly. A tax break is a specific targeted provision in the tax code. There is no tax break for offshoring, unless liberals want to argue that paying wages or expensing depreciation or buying inputs are also tax breaks. But then, they'd reinforce that they are clueless on business and the economy.
There IS a tax break for moving expenses...and you get it if you move your business to another country. The bill put forth by the Democrats would have given the break ONLY if you moved your business within or back to the United States and would have eliminated it ONLY for those companies wishing to move to another country.
What is the opposition to that?
Expenses are only a "tax break" if you don't understand that profits are taxed. Tax breaks are specific targeted items in the tax code. They aren't expenses. There is no tax break for offshoring.