Corporations pushing for job-creation tax breaks shield U.S.-vs.-abroad hiring data

[alp227]

Source: The Washington Post

Some of the country’s best-known multinationals closely guard a number they don’t want anyone to know: the breakdown between their jobs here and abroad.

So secretive are these companies that they hand the figure over to government statisticians on the condition that officials will release only an aggregate number. The latest data show that multinationals cut 2.9 million jobs in the United States and added 2.4 million overseas between 2000 and 2009.

Some of the same companies that do not report their jobs breakdown, including Apple and Pfizer, are pushing lawmakers to cut their tax bills in the name of job creation in the United States.

But experts say that without details on which companies are contributing to job growth and which are not, policymakers risk flying blind as they try to jump-start the hiring of American workers.

Read more: http://www.washingtonpost.com/business/economy/corporations-pushing-for-job-creation-tax-breaks-shield-us-vs-abroad-hiring-data/2011/08/12/gIQAZwhqUJ_singlePage.html

[OhioChick]

1. Greedy fucks n/t

[McCamy Taylor]

2. Supply side economic says "Give us tax breaks to create jobs abroad and folks will buy our stuff

with their unemployment checks." Might work if your company produces beans and salt. Even the poorest of the poor have to buy beans and salt. Not so good for the other sectors of the economy.

[Skittles]

3. my company created thousands of jobs this year

I don't believe ANY of them were in America

[julian09]

4. I was asking for monthly breakdown

of jobs lost and quarterly earnings as a result of cutbacks in workforce. It's not just for profitability but excessive profits. Four hundred US workers equal one CEO,how many foreign workers equal one US ceo. How many very profitable companies who do not pay US taxes are laying off US workers to hire foreign workers. Rachel had a list on her show a while back. Hewlett Packard, GE, AND OTHERS.

They should have a special category for americans to see, who is worthy of boycott and new tax policy.

[Plucketeer]

5. The picture of corporate Amerika

is now perfuctly clear - and it's the ugliest F'ing thing I've ever laid eyes on. :puke: Of course.... when you live strictly to please shareholders. :grr:

[Tipring]

6. Off shore where it really counts

I wonder what a good CFO would work for serving a US Company if he were from Inda? A CEO? Just name an upper exectuive position...now there we can save some bucks.

[cstanleytech]

7. I say let them claim the tax break

but only if certain conditions are achieved and maintained and those would be that they must add on a x% net increase of full time employees within the US and maintain that number within the US and that only US citizens may be used to qualify and they cannot claim anyone else including people here using US B1 and B2 visas as new hires nor as part of their existing employees numbers.
Furthermore the jobs all have to be full time and they cannot transfer any full time jobs overseas nor fire (except for cause such a theft or some other crime which the person accused employee must then be convicted for in a court of law) or layoff any full time US citizen inside the US.
They also may not cut the salary, benefits nor hours of full time US citizens below 40 hours a week without cause such as natural disaster, global thermal nuclear war or a zombie invasion.
If they agree to that then fine let them have their tax break but if they violate the rules they have to pay the government escalating mandatory fines for each offense, say 10% of the employees wages for a year for the first offense to a maximum fine of 10x the companies profits for a 10 year period if more than 20 major violations within a 6 month period (the slate is wiped clean for the company on violations if they dont have any new violations for a year though).
Anyway thats just my rough draft on what I would demand if they want a tax break.

Oh I forgot to add, all the other tax loopholes like GE used and any other tax loopholes have to also be closed first :)

[w0nderer]

8. give a set number per job per year

x dollar tax rebate per head per year

with a
y dollar extra taxation on jobs moved outside of the US
since it supposedly is more 'profitable' for the corporation

[Corruption Winz]

9. Or... and this is a thought...

Create enough jobs here FIRST and then with all the jobs you create, you'll DESERVE tax breaks and until then, you'll just pay more in taxes.

Simple.. so I doubt this would work with American law-makers.

[fascisthunter]

10. this is what the right wing

anti-cahavez folks want to see but never dare claim to be supportive of things like this.

[ChromeFoundry]

11. Nice.... n/t

[OhioChick]

12. Keeping the number of U.S. jobs a mystery

----Pfizer, the world's biggest drug company, hasn't reported the breakdown of its workforce between the United States and overseas since 2000.

----Procter & Gamble
Tide is a brand of Procter & Gamble, the world's largest consumer products company. You won’t find P&G’s U.S. head count in its filings, either. When initially asked for the number, company spokesman Paul Fox said: “We do not track nor report U.S.-specific jobs numbers vs. jobs overseas.” After it was pointed out that P&G’s chief executive, Bob McDonald, had cited such figures in an op-ed piece, Fox acknowledged that company did track that data. The number of U.S. employees is 35,000 out of 127,000 total, or 28 percent.

----IBM
IBM stopped disclosing its U.S. head count in 2009. Dave Finegold, dean of the Rutgers School of Management and Labor Relations, estimates that 2009 marked the first time the company had more employees in India than the United States. IBM chief executive Sam Palmisano has also met a number of times with the president for discussions on the economy.


----Hewlett-Packard
A Best Buy employee walks by a Hewlett-Packard computer at a store in San Francisco. HP is among the multinational companies that do not disclose the breakdown of their job numbers.

----Apple
Apple chief executive Steve Jobs holds up the new MacBook Air at the MacWorld Conference in 2008 in San Francisco. Apple also does not reveal how many of its employees are based in the United States. Apple and Pfizer are part of a coalition of companies pushing for Congress to give them a tax break on money they have parked overseas, saying that any money brought back to this country would spur hiring.

----AT&T
A customer enters an AT&T store in Santa Monica, Calif. The phone and digital giant does not include its employee breakdown in its Securities and Exchange Commission filings.

http://www.washingtonpost.com/business/economy/keeping-the-number-of-us-jobs-a-mystery/2011/08/08/gIQAFBA8UJ_gallery.html#photo=1

This is SO fucked up.

[Blue_Tires]

13. very fucked up...

[cyberpj]

15. I posted here just to note that some of the large corp. facts are shown in post #12, above. nt

[cyberpj]

14. One of the worst parts of this article is being reminded that Obama chose Jeff Immelt at all!

In my opinion, Immelt is one of the first and larger exporters of U.S. jobs in the first place!
He started in the 1980's, didn't he?

snip-
The head of Obama’s jobs council, General Electric chief executive Jeff Immelt, said during a tour of a company plant in Greensboro, S.C., that firms should be ready to answer questions from the public.

“If you want to be an admired company, you better know, you better have accountability, and you better think through where the jobs are,” he said.

GE breaks out its employment numbers in company filings to the Securities and Exchange Commission. In 2010, about 46 percent of GE’s 287,000 employees worked in the United States, compared with 54 percent in 2000.

[cyberpj]

16. kickin' it up. n/t