President Barack Obama says Mitt Romney's proposal to free companies from taxes on their foreign holdings would result in job creation overseas, not in the United States. Obama was speaking yesterday at Music Hall in Cincinnati.
He cited a new tax analysis that concludes that such a tax policy would encourage U.S. firms to shift more of their activity to other countries and could displace American workers.
" So, I want everybody to understand Ohio. I've got a different theory. We don't need a President who plans to ship more jobs overseas or wants to give more tax breaks to companies that are shipping jobs overseas. I want to give tax breaks to companies that are investing right here in Ohio.
How to tax the foreign earnings of companies is hotly debated topic. Corporations argue that taxing those profits keeps companies from reinvesting that money in the U.S.
Obama was speaking to supporters at a campaign rally in Cincinnati.
WYSO’s Community Voices Producer Susan Byrnes was on hand with reaction
Byrnes: And what did you hear from the President's speech today that resonated with you?
Florence Simmons from Sharonville. : That he needs four more years to do the things that he's promised that he would do. So I'm out here and I'm going to work as hard and support him and so is my family so that he can get the time needed'
Greg Chapman from Maineville, Ohio: I thought the infrastructure he needs to really stress that more in his speeches and everything. He really needs to push that. Like Roosevelt. Put these people back to work.
Byrnes: What issues concern you about the upcoming election?
Colleen Fogle from Cincinnati: Health care is number one for me. I think this President will ensure that no American ever goes without health care
Byrnes: What did you hear today that resonated with you?
John Han from Cincinnati: That he's going to try and create jobs. That he's going to continue on with what his plan was when he took over the first four years and that he's going to the best he can.
Byrnes: Does anything concern you about the upcoming election?
John Han: No, I think he'll win.
Laurie Lonergan from Southeast Clermont County: I think Barack Obama is the answer to our country and I don't think any President can fully succeed in a four year term and I think we owe it to him to give him the time to finish what he started.
While President campaigned in the state, Ohio Senator Rob Portman was close-by in Lebanon, criticizing the economic policies of Obama. Portman made the speech at the Golden Lamb in Warren County, a regular stop for Republicans in southwest Ohio. Portman said he hoped that the President visited workers in the county so they could show them that people in the private sector are concerned about federal policies affecting their jobs. He says the country can’t afford what he calls the reckless spending of the Obama administration.
Portman’s stop also fueled more speculation as to whether or not he will be Mitt Romney’s pick for a running mate. Portman declined to speak on the matter but says he will support the Romney campaign strongly. Mitt Romney will visit Ohio later this week with a public appearance in Bowling Green on Wednesday.