On the campaign trail, then-candidate Obama spoke against policies that give companies tax breaks after shipping jobs overseas.
“I will stop giving tax breaks to corporations that ship jobs overseas, and I will start giving them to companies that create good jobs right here in America,” Obama said.
Now as president, there’s little doubt he will put those promises into action.
In today’s Cato Daily Podcast, Dan Griswold, director of Cato’s Center for Trade Policy Studies, explains why singling out those companies now for tax hikes can have a particularly painful negative side effect.
“When they talk about shipping jobs overseas what do they mean exactly? Well, if they mean U.S. companies investing in operations abroad then you’re indicting pretty much all of corporate America,” Griswold says.