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McCain Favors Offshoring of US Jobs, Fiorina Can't Explain Why

This news is about a month old, but it bears repeating.

Carly Fiorina championed the offshoring of jobs before being fired from her post as CEO of Hewlett Packard... so you'd think she'd be open about the subject... but watch her dishonesty bloom live on national television as she bobs and weaves as she's questioned about John McCain's imperative that company profits are protected by the offshoring of American jobs, which encourages the loss of American jobs in favor of higher corporate profits.

Watch McCain spoksperson Carly Fiorina dodge the question:

STEPHANOPOULOS: And senator McCain has come out for cutting the corporate tax rate, yet he still wants to preserve this tax break for keeping profits overseas. Why is that right?

FIORINA: Well, I think first of all, senator McCain understands that you must focus on why jobs are going overseas. There are really two issues. One as I said, the tax rate that we have in place today. The other is education and worker retraining, another area, for example, where John McCain differs from President Bush. He said a year ago, let's take our unemployment insurance programs, let's reform them. Let's make sure that when workers lose their jobs because of globalization, for example that we just don't leave them behind. That we don't just pay them while they're unemployed, that we prepare them.

STEPHANOPOULOS: I understand that he's called for that, but why is he for preserving the tax break for keeping profits overseas?

FIORINA: Well describe for me the tax break that Obama feels is being maintained for companies who leave profits overseas. There is not an incentive today--I can tell you as a CEO, you don't get a tax break for leaving profit overseas. What you get--

STEPHANOPOULOS: You get to defer the taxes on those profits as long as they stay overseas. That's what he wants to take away--

FIORINA: That's exactly the point. If the tax rate were lowered on businesses in this country, businesses would bring money back. The reason they cannot bring money back is because the tax rate is so onerous -

STEPHANOPOULOS: Not if they can pay no taxes for leaving them overseas; [Fiorina stutters] which is the way the law is right now.

Fiorina avoids the question right up the end, never addressing the question as to why McCain favors preserving a tax cut for companies that offshore US jobs and then avoid taxes by keeping those profits overseas.


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Publisher: Kevin Aylward

Editors: Lee Ward, Larkin, Paul S Hooson, and Steve Crickmore

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