IN THE MEDIA: Xinmin Weekly, China

Xinmin Weekly interviewed me about my blog: Scrap payroll taxes entirely to increase U.S. jobs.

I met a nice journalist Ms. Leyun (Lorrin) Shao from China in Finland last year. She reads my blog and interviewed me by email about my above blog. Her article appeared in Xinmin Weekly, a reputable news magazine located in Shanghai, China.

Our Christie Kam CPA, also from China, gave me a translation where I and Green & Company are mentioned.

The entire article is basically about various reactions from Obama’s job speech on September 8, 2011.

The title of the article is” JOBS – Whom is Obama trying to stimulate?”

Click here for the pdf article in Chinese.

English Translation for parts with Green:

Robert Green, CPA, founder and CEO of Green Co. provides tax consultation to investors and corporate management. During interview with (Name of Chinese Journal), he indicated that, nowadays many American businesses outsource in India and China, the so called 'tax havens', in order to avoid taxes. They think by doing that, they would not be under the ruling of American tax laws and regulations, and therefore they could save money. American local work force demand higher income, better benefit, and yet many of them aren't as highly educated, and they are less competitive. In addition, many jobs are becoming more automated by machines or computers, therefore job opportunities are scarcer.

Green said he was glad to see Obama suggesting to cut social security in half. Since we need to create jobs, we really shouldn't promote heavy taxation. Reducing tax will provide more job security to American workers, and offer more job opportunities. As to the part of tax revenue that the Government would lose, if possible, they could be collected from outsourcing business and the industry sectors where the labors have been automated greatly.

Republicans agree to cut business tax, Democrats worry the money saved will be spent on executive bonuses instead of creating more job opportunities. Green shares Democrats' worries. "Don't create loopholes for certain industries. In other words, the government should increase regulations on outsourcing industries."

As to social security system, Green commented that Republican candidate Perry describes American social security system as a Ponzi scheme. If that's true, why not completely stop withholding social security from wages. If you want to tax, you've got to increase transparency of social security system first.

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