Reply #27: Here you go [View All]

Barack Obama on Corporations
Democratic Jr Senator (IL); previously State Senator


Tax incentives for corporate responsibility

1. Obama's "REAL USA" Corporations Plan (Responsible, Accountable, Loyal USA Corporations) will reward companies that create quality jobs in America with tax incentives. Companies will be required to: locate in the United States 90% of its production and employment for the sales of goods and services that are consumed here;
2. invest at least 50% of its R&D budget here in the U.S;
3. make sure their workers have access to affordable health care by providing a standardized and portable health insurance plan and pay at least 70% of the cost;
4. make sure their workers have retirement security by contributing at least 5% of payroll to a portable, multi-employer pension fund and operating a profit-sharing plan for all full time employees; and
5. limit management compensation to 50 times the lowest-paid full-time worker.

Source: Campaign website, ObamaForIllinois.com Jun 25, 2004

Close tax loopholes for US companies relocating abroad
Obama will change the tax code by closing loopholes that give companies incentives to move jobs abroad, including denying tax benefits to former American companies that reincorporate offshore to avoid paying taxes.
Source: Campaign website, ObamaForIllinois.com Jun 25, 2004

REAL USA Plan: Reward companies that create domestic jobs
Obama's "REAL USA" Corporations Plan (Responsible, Accountable, Loyal USA Corporations) will reward companies that create quality jobs in America with tax incentives. Companies will be required to:

1. locate in the United States 90% of its production and employment for the sales of goods and services that are consumed here;
2. invest at least 50% of its R&D budget here in the U.S;
3. make sure their workers have access to affordable health care by providing a standardized and portable health insurance plan and pay at least 70% of the cost;
4. make sure their workers have retirement security by contributing at least 5% of payroll to a portable, multi-employer pension fund and operating a profit-sharing plan for all full time employees; and
5. limit management compensation to 50 times the lowest-paid full-time worker.

Source: Press Release, "Creating Jobs in America" Jun 21, 2004

Voted YES on repealing tax subsidy for companies which move US jobs offshore.
Amendment to repeal the tax subsidy for certain domestic companies which move manufacturing operations and American jobs offshore.
Reference: Tax Subsidy for Domestic Companies Amendment; Bill S AMDT 210 to S Con Res 18 ; vote number 2005-63 on Mar 17, 2005