According to the study, Romney supports "a territorial tax system," which would allow overseas profits made by U.S. companies to avoid federal taxation. Romney, on the other hand didn't watch silently and instead accused Obama of cronyism against the president in awarding federal contracts to supporters.
According to RTT NEWS, Romney even disputed the Obama camp's charge that his tenure at Bain Capital, a venture capital company led to US jobs going overseas. Blasting Obama for his record on economy, he said on Fox News that all 'Obama can do is attack me on Bain and other subjects rather than taking useful steps to improve the economy'. Pertinent to mention is that president Obama has called Bain as a 'pioneer in outsourcing'.
Jobs are the main issue on which both the candidates are asking their support from the US voters. Though Obama has managed to create some jobs and brought down unemployment, still there are many critics that don't stop short of castigating the democrat President for the lack of a clear policy to contain joblessness.
What's often lost in the outsourcing debate is the outsourcing is a double-edged sword. The opportunity to outsource encourages entrepreneurs and companies to start and expand ventures while at the same time denying employment within the country - employement that could lead to savings, consumption and growth in domestic economy. Unfortunately, niether candidate is discussing a more measured approach to outsourcing and offshoring.
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