Sunday, May 11, 2008

McCain Campaign Chair Schools Dems on Economics

Obama has been telling everyone he talks to that he will end tax breaks for companies that ship jobs overseas. But Former HP CEO and now McCain backer Carly Fiorina explains to George Stephanopolous that there are no such tax breaks. Companies choose to keep profits they earned overseas in those countries instead of bringing them home. Why? Do you really have to ask?

McCain on the other hand intends to lower corporate tax rates at home ... an incentive for companies to keep operations here. BTW Fiorina is generally credited with turning HP around and into a powerhouse in personal computers at a time when most folks considered the market lost to Japan.