This is for all the GOP deniers of Bush's Outsourcing policies (AMERICAN JOB HOLOCAUST DENIERS) and the tax code that enabled the destruction of America's manufacturing Industry. It's not surprising that GOP supporters want to forget the failed Bush policies that brought destruction to our economy and more importantly our job base. During the 2004 Bush-Kerry campaign, Outsourcing was one of the hot topics before we all became distracted by Swift Boats, Flip Flops, and shiny objects. My aren't we shallow! Maybe we should have listened to Kerry? During the 04 election campaign Bush had already embraced giving tax incentives to companies who sent jobs over seas and it created such a problem that at that point the US Census Bureau reports about 3 million jobs were lost in JUST manufacturing. The Bush Tax Code not only gave tax breaks to companies who sent jobs over seas, but during the campaign Bush's economic team and the Republican Congress were mulling over the idea of raising taxes on US companies who export goods so that they could increase incentives for those companies who exported jobs.

How does it work? In part the tax incentives basically allowed US companies to not pay taxes until that money came back to the US. Well, guess what? They kept the money out of the country and only paid taxes in the country where they set up shop. This is called a Tax Haven. This not only robbed Americans of jobs, income, and health care benefits, but it kept money from the US tax system. Not only because American workers weren't paying in, but rather withdrawing in the form of unemployment benefits AND more importantly these large companies were contributing to the tax systems of OTHER COUNTRIES instead of their home country, HERE IN AMERICA! I know the Tea Baggers hate taxes, but taxes are the income for the nation. This is not a wealthy country when the pockets are empty. We all benefit from taxes and when an administration doesn't bring in enough revenue to cover it's lavish spending habits you end up with the classic trillion dollar dine and dash that Reagan and both Bushes have made into a normal GOP departure surprise. Being short causes us to borrow more and that's not good for our economy.

There are many, many articles on the internet concerning this subject and those written around the 2004 campaign time frame are very consistent in saying that the Bush Tax Code provided tax breaks for outsourcing, including right-winger biased articles. Here are some things said by the Conservatives around that time:

Conservative economist Kevin Hassett of the American Enterprise Institute: "The U.S. tax code definitely provides a strong incentive for sending jobs overseas." (WSJ, 3/12/2004)

Congressional Research Service: "Economic theory is relatively clear on the basic incentive impact of the system: it encourages U.S. firms to invest more capital than they otherwise would in overseas locations where local taxes are low Accordingly, deferral poses an incentive for U.S. firms to invest abroad in countries with low tax rates over investment in the United States." ("Tax Exemption for Repatriated Foreign Earnings," 10/22/2003)

Martin Sullivan, Tax Analyst. "The U.S. tax system is set up, unfortunately, in a manner that it is far more profitable to set up an operation in Ireland or in Singapore than it is in Des Moines, Iowa." (Kudlow & Kramer Transcript, 3/12/2004)

Steve Liesman, Senior Economics Reporter for CNBC. "Turns out there really are provisions in the tax code that seem to encourage sending jobs offshore One of the most important is through the ability to defer and often never pay taxes on foreign-earned profits. The result: foreign profits of U.S. companies end up taxed at a lower rate than their U.S. income, creating an incentive to invest overseas in factories. The jobs are where the factories are." ("U.S. Tax Code Provisions Encourage Offshore Jobs," Wall Street Journal, 3/12/04)

Bush Economic Adviser Harvey Rosen: "Profits earned by a foreign subsidiary are taxed only if returned (repatriated). Thus, for as long as a subsidiary exists, earnings retained abroad can be kept out of reach of the US tax system to the extent that a foreign country taxes corporate income less heavily than it does the United States, deferral makes the country attractive to US firms as a 'tax haven.'" (Public Finance, McGraw-Hill/Irwin)

Department of the Treasury: "Among all of the options considered, ending deferral would also be likely to have the most positive long-term effect on economic efficiency and welfare because it would do the most to eliminate tax considerations from decisions regarding the location of investment." ("The Deferral of Income Earned Through U.S. Controlled Foreign Corporations," 12/2000)

EVERY SINGLE ONE OF YOU GOP SUPPORTERS ON THIS SITE HAVE BEEN DENYING THE INVOLVEMENT OR MAGNITUDE OF BUSH'S OUTSOURCING POLICES. MILLIONS OF AMERICANS LOSING JOBS CONTRIBUTED GREATLY TO THE FORECLOSURE PROBLEM. THE INCENTIVES TO KEEP JOBS AND MONEY OUT OF THE COUNTRY HAS ENRICHED A FEW INDIVIDUALS AND FOREIGN GOVERNMENTS WHILE LEAVING AMERICA SHORT. HOW PATRIOTIC OF THEM! MAYBE THESE COMPANY OWNERS DON'T WANT TO BE AMERICANS ANYMORE? MAYBE THEY SHOULD MOVE PERMANENTLY AND REVOKE THEIR CITIZENSHIP? WHY SHOULD WE LET THEM BENEFIT FROM LIVING IN THIS GREAT NATION IF THEY SEND JOBS AND INCOME TO OTHER GOVERNMENTS. WHY SHOULD THEY BENEFIT FROM US WHEN WE CAN'T BENEFIT FROM THEM? KEEP THE FANTASY ALIVE TEA BAGGERS!