This Isn't Protectionism Act [FAIL'D]

[Bacon King]

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Sponsor: Senator Bacon King
Bill Slot: Seven (PPT's discretion)

[Bacon King]

The original title was, "This isn't what protectionism is you idiots act"; I took the liberty of modifying it to something less undignified when sponsoring it for Marokai.

[Bacon King]

For the record, though, I don't think I can support this bill in its present form. It seems far too extreme. Tax breaks of all types are ingrained in the American/Atlasian tax code to the extent that pretty much any company pays a significantly lower share than they "should". Removing tax exemptions, of course, means that they'll be paying higher taxes. And while I agree that we should limit incentives for outsourcing, this bill is just crazy.

Say the New York Times wants to moves a reporter from their main office to their office in London: BOOM! Higher taxes for the whole company forever.

Or what if a manager at Toyota's Huntsville, Alabama plant gets promoted to the Corporate Offices in Tokyo? BOOM! Higher taxes for the whole company forever.

Or how about if a San Diego security firm gets a job to do major upgrades to the surveillance systems of an office building in Tijuana, and do to the length of the job rents an apartment in the area for its employees? BOOM! Higher taxes for the whole company forever.

Those are just a few examples that demonstrate how excessive the bill is.

Also, I don't think there's any points in getting rid of tax breaks for companies that move their businesses overseas. If the company isn't going to be located in the US anymore, they won't be paying US taxes anyway! What's the point in that?

[Bacon King]

If anyone wants to try to amend this into something sensible, go for it, otherwise I'm pretty sure this bill is dead in the water.

[Bacon King]

Afleitch suggested in his paper to reverse the bill, instead of punishing for sending jobs overseas, reward them for staying or moving back here. I'm fine with changing the approach, but I can only imagine this will get a tidal wave of opposition as well.

I like the idea, I'd just like to see implementable text for it. I think you're overestimating opposition here.

[Bacon King]

It's a good start.

I question section one though- wouldn't it put Atlasian companies at a comparative disadvantage internationally? Say, an Atlasian company is operating in Ireland. An Irish company would be taxed once: by Irish taxes. The Atlasian company, however, would get taxed twice: the standard taxation from the Irish government, and this taxation from the Atlasian government on their investments in Ireland.

Section two is good, in principle; it only needs to be fleshed out a little more. Maybe adapt Franzl's idea.

It would also be a good idea to directly and specifically repeal whatever "tax cuts" currently exist for Atlasian companies to go overseas- NCYankee, you referenced it, do you know the details?

[Bacon King]

Well, was that amendment going to get actually offered/worked out, or not?

[Bacon King]

Lol, well, I guess let's have a final vote here! Senators, vote aye, nay, or abstain.

[Bacon King]

nay

[Bacon King]

Three nays, two abstentions so far.

Two more votes to fail...

[Bacon King]

1 aye, 3 nays, 2 abstentions, 4 left to vote...

The voting time expires in just over three hours, by the way.

[Bacon King]

Can't you extend it?

A Senator can, but I don't see the point here. And since none did so anyway, this bill has now failed.