Pete Gallego saved a boy choking on a chicken nugget, while the Senate voted 54-42 to block a bill limiting tax breaks for US corporations that move operations overseas to escape paying taxes. The boy will be fine. The US economy, not so much.
Does giving tax breaks to companies leaving sound good for America? That’s because it isn’t, unless you are a marrow-deep libertarian.
“Today in the United States, any time an American company closes a factory or plant in America and moves operations to another country, the American taxpayers pick up part of that moving bill. Frankly, a vote against this bill is a vote against American jobs.” – Harry Reid
Is this big business swinging its mighty lobby around? Oppositional behavior to anything the Democrats want? Perhaps some of both.
The race to the tax bottom has consequences. You move from California to Texas, and Rick Perry crows that his state is business -friendly. You move to Costa Rica and suddenly things got a little friendlier. Suddenly you’re in China, shipping American products back home, where everyone is out of a job and can’t buy anything.
This is not how you recover from a deep recession. You enact laws that make sense for the US, not for everyone else. And, be careful about leaving China. They may not throw you a going away party.