State of the Union Reflection Paper
On January 24, 2012 the President of the United States of America gave his State of the Union address. The speech was titled “An America Built to Last”, I wanted to hear how he plans on fixing our financial crisis that has left over 10% of Americans out of work. Obama addressed many topics but one that really caught my attention was his plan to bring manufacturing jobs back to the United States.
President Obama wants to bring manufacturing jobs back to U.S. and he wants to start by giving companies tax breaks for staying and hiring here. “In the six months before I took office, we lost nearly 4 million jobs. And we lost another 4 million before our policies were in full effect. Those are the facts. But so are these: In the last 22 months, businesses have created more than 3 million jobs.” Obama said. Considering the bad term oil our country is in it could be looking up or it could be looking down for us as a country.
“Ask yourselves what you can do to bring jobs back to your country, and your country will do everything we can to help you succeed.” Obama said. Obama also talked about how we could start attracting jobs back to the United States, he said “We should start with our tax code. Right now, companies get tax breaks for moving jobs and profits overseas. Meanwhile, companies that choose to stay in America get hit with one of the highest tax rates in the world. It makes no sense, and everyone knows it. So let's change it.”
“First, if you're a business that wants to outsource jobs, you shouldn't get a tax deduction for doing it. That money should be used to cover moving expenses for companies like Master Lock that decide to bring jobs home. Second, no American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas. From now on, every multinational company should have to pay a basic minimum tax, and every penny should go towards lowering taxes for...