September 21, 2004
Analysis of John Kerry's Outsourcing Plan
U.S. Senator John Kerry plans to end tax breaks for companies that outsource jobs offshore. Some argue over how effective this plan would be in keeping jobs in the U.S.
From Computerworld:
The Kerry plan, outlined online (download PDF), doesn't spell out many details, but Kerry advocates eliminating "special tax breaks" for U.S. companies with overseas subsidiaries. Under current U.S. tax law, U.S. companies with overseas operations can defer paying taxes on income at those operations until they bring the profits back into the U.S.
The Kerry campaign has criticized President George Bush for "encouraging" offshore outsourcing. Bush's advisers have suggested that limiting offshore outsourcing may hurt the U.S. economy in the long term.
Read more: Kerry's plan on outsourcing faces mixed reviews
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