OUTSOURCING AMERICAN JOBS - ROMNEY V. OBAMA

Obama says a Romney presidency would create 800,000 jobs–abroad

By Olivier Knox, Yahoo! News | The Ticket – 6 hrs ago  16 July 2012

President Barack Obama blasted Mitt Romney's economic plan during a stop in the pivotal swing state of Ohio on Monday, saying the blueprint would create 800,000 jobs—just not in America.

"Today, we found out, there's a new study out by a nonpartisan economist that says Gov. Romney's economic plan would in fact create 800,000 jobs," Obama said at a town hall-style event in Cincinnati. "There's only one problem. The jobs wouldn't be in America."

"They would not be in America. They'd be in other countries. By eliminating taxes on corporations' foreign income, Gov. Romney's plan would actually encourage companies to shift more of their operations to foreign tax havens, creating 800,000 jobs in those other countries," the president added.

"This shouldn't be a surprise because Gov. Romney's experience has been investing in what were called pioneers of the business of outsourcing," Obama said, reprising one of his core arguments against the Republican standard-bearer. The president has been assailing Romney over allegedly encouraging businesses to ship jobs overseas.

Obama was referring to a study of Romney's proposals in the Tax Notes newsletter by Reed College economist Kimberly Clausing. But conservatives quickly pointed reporters to data showing that Clausing has given $492 to Obama's re-election effort. And ABC News reported that:

Romney is far from alone in endorsing a territorial tax system, which would allow the profits made by an American corporation in another country to escape U.S. taxation. In fact, a number of advisers to the president support the idea as well — including members of the President's Export Council, the commission the president set up to recommend ways to reduce the deficit, and members of his Council on Jobs and Competitiveness.

Hugh Murray's comment:

What a joke!  Just a few weeks ago Obama granted his version of amnesty to what he says will be 800,000 illegal aliens in the US.  Pew Hispanic research estimated the number will be 1.4 million illegals.  At least a million of those will be Hispanic.  So with Obama's amnesty, these illegals move not only to the front of the immigration line, in front of legal applicants, they move to the front of the employment line because they will receive affirmative action preferences above American citizens.  OBAMA IS OUTSOURCING A MILLION AMERICAN JOBS TO ILLEGAL ALIENS!  That is a million reasons to vote against Obama and his hate-the-American-citizens administration.