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Manuel Balce Ceneta / AP
President Barack Obama, accompanied by leaders from the private sector and the government, speaks in the East Room of the White House in Washington, Wednesday, Jan. 11,2012, to encourage companies to insource and invest in America.
President Barack Obama said Wednesday he wants to reward companies that invest in America and eliminate tax breaks for companies that don't, and he's planning new tax proposals to do it.
A day after his Republican foes competed in the New Hampshire primary, Obama sought to grab back the spotlight and underscore his focus on the economy by convening a White House forum on how to increase employment and bring back jobs that have fled overseas.
Speaking alongside a group of business executives in the East Room, Obama said that rising American productivity and increasingly competitive costs add up to "a unique moment, an inflection point" for businesses to invest in the U.S. and bring jobs back home. And he argued there's a moral case for it, too, and that business leaders have a responsibility to their country.
"So my message to business leaders today is simple: ask yourselves what you can do to bring jobs back to the country that made our success possible - and I'm going to do everything in my power to help you do it. We're going to have to seize this moment," Obama said.
"This moment is perfectly suited for our advantages, it's perfectly suited for who we are," he said. "The global marketplace is becoming more innovative, more creative, more transparent, faster, more adaptable - that's who we are, that's our strength. We've got to take advantage of it."
The White House gave the session a high profile in the wake of Mitt Romney's victory in New Hampshire, which solidified his lead over the GOP presidential field. Romney has targeted Obama as a foe of free enterprise. Obama's forum aimed in part to counter that message.
Obama highlighted big and small firms ranging from Ford to a North Carolina specialty furniture company as examples of enterprises that have invested in the U.S. rather than abroad. He called on other companies to do the same with the help of government incentives.
The White House says the president will propose $12 million in his 2013 budget to promote business investment from overseas in the United States. Obama said he'd propose tax changes in the next few weeks but he didn't provide details.
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And by "reward", the govt anyway means "punish you less with the tax code." How about "rewarding" everybody instead of trying to pick winners for a change.
Bingo. If we want to draw business back to this country, we need to encourage everybody to come back, not just pick and choose. Also, 12 million is what he wants to spend to encourage businesses to come back? What is that going to do? I guess buying a few executives dinner at some lavish resort where a muffin costs 82 bucks is how that 12 million will be spent. As soon as we stop spending half a billion on businesses we know are going to fail, and start encouraging businesses to come back home, we will get this country out of the hole it is in.
Obama, YES WE CAN bring businesses home. NO YOU DON'T know how to do it. Or at least he hasn't shown the knowledge of how to do it. On the bright side for Obama, neither has anybody else. Unfortunately, what is bright for him is dark for the American people.
Exactly Peanut.
Just more of the chrony capitalism that everyone voted against. When will america learn that this isn't the hope and change we voted for?
Ron Paul, the only one to end all corporate welfare.
Where does it say Obama's going to "pick and choose" who he helps? Tax breaks for those who employ Americans; elimination of tax breaks for those who don't. Sounds like the help is available to any company willing to step up.
brendan
President Obama intends to remove incentives for US businesses to operate in other countries rather than in the United States. How can you possibly define that as "chronic capitalism"? I think you just heard that expression during a Ron Paul rally and decided to mis-use it on Newsvine.
I know you Obama-haters will oppose anything he tries to do, but how can you possibly object to an initiative that encourages businesses to invest in our own country? You guys really are willing to sink the ship just to drown the captain. Al Qaeda is looking for people who have the same kind of patriotism as you.
How about taking away the favorable tax treatment for companies that take jobs out of the country and especially the ones that don't bring their profits back just so they can avoid paying taxes.
I think that is the plan, it will be interesting to see how it plays out. Of course, the GOP will do everything in their power to stop this too.
Jrae if you had read the story that is exactly what the President intends to do.
Great!! basically this is a set up for a new tax code that will punish (financially) companies that have outsourced by ripping away their tax breaks, and instead, give those breaks to American companies that hire Americans.
Obama / Biden 2012!!!
Que the GOP to start doing what they do best: Obstructing and complaining. The President is making a proposal that will encourage businesses to invest in the US instead of abroad. You'd think the GOP would be all for that, you know, with them priding themselves on being a "pro-business" party. But then again, this plan does have Obama's name attached to it, and that alone gives them enough reason to demonize it and likely label it a "job-killer" like they do with every other idea that doesn't come from their so-called "brains".
Say NO to the Party of No in November!
Remind me why Obama didn't have this great (sarc) idea when he first got into office - or two years ago - or 6 months ago... Oh! It's 2012 - silly me...
Remind me why the GOP didn't have a jobs plan when they were first sworn in. Or two years ago. Or six months ago. Oh! It's 2012, silly me!
Oh wait...the GOP still doesn't have a jobs plan...well it's 2012 so I'm sure they'll think of one soon. In the meantime, lets kill that Commie Health Care Law!
GOP had a jobs plan, and passed 14 bills, King Harry in the Senate quashed every single one without a vote. Nice try, but lying accomplishes nothing except to make you look stupid. You might disagree with their plan, but your Democrat leaders are the party of NO, and as the minority party the Republicans can only do so much.
As for this idea of Obama's - its not new, and in theory it is a good idea. Any company bringing back or creating jobs should be rewarded.
As to how to accomplish this, time will tell if he gets it, or is just grandstanding.
The real question is this - why is he doing it now? He could have done this 3 years ago.
It appears this is 100% political, suddenly turning a tad conservative, in order to get elected. And this is both pathetic and evil. Two traits appropriate for this fraud.
Oh for God's sake, Practical, your name is an oxymoron. Those 14 bills were nothing but partisan deregulatory bills that would create few jobs and could harm our nation. Besides, how come the GOP didn't at least give Obama's Jobs Plan again?? Would have created 2 million jobs, saved tens of thousands of needed ones (policemen, teachers, etc), and WAS PAID FOR. Oh no, the Tea Party hates taxing the upper crust of this nation, so they said no. And yet they balked at passing a payroll tax cut FOR THE MIDDLE CLASS. And even people making over $100,000 are middle class. Tell the GOP to compromise and then we can talk about those bills.
And yes, I think Obama should have done this years ago, but then again Bush could have done the Medicare Replacement Plan a few years later than he did. He also could have invaded Iraq in 2005 rather than 2003, or could have done away with the plans altogether. And one major factor of how he will get it is if the GOP passes it. I hope that they will, but either way it is a win-win situation for the DNC. If the GOP say yes, maybe the economy can grow more. If they deny it, than we can use it against them. But it will be a shame if it is a Pyrrhic victory won on the backs of millions of Americans...
Obama Biden 2012
Down with the Tea Party/GOP 2012
Democratic Congress 2012
America 2012
I am so sure that Mr. Obama's Jobs Czar (CEO GE) was NOT IN ATTENDANCE.
How many times have we heard Mr. Obama talk about JOBS and NOTHING has worked ? Yet, here he is... getting towards the next Presidental election with JOBS as his #1 priority AGAIN.
ANYONE but Obama in 2012.
Down with the Liberals, the Progressives, the sheepies.
The 1st Bill Obama passed was the Lilly Ledbetter Fair Pay Act. He did that for his mother, wife, daughter, & all American women. He's achievements during his 1st 2 yrs were unbelievable and that it was done in a hostile environment was even more noteworthy. Jobs have always been in his cards. Living in Detroit, I can attest to the fact that bailing out the auto industry was WELL WORTH it!! We still have high unemployment; but, it's getting better and we are more optimistic. We are not sheepies. We got our degrees, had management jobs, raised our children, and made investments in 401k's - the whole thing. Bush and croney greed, deregulation, redistricting, corporations turned into people....wars that were totally initiated by a personal grudge with Bin Laden....and then, the depression, banks, mortgages mess...Our jobs went to Mexico, China, anywhere the corporation could at CHEAP labor, taxes, etc.. Global sourcing STANK!! As a purchasing agent for automotive, I can tell you that we did it to increase profit margin...sometimes by 2000%! Whole towns where abandoned when Int'l Harvester pulled out to Mexico Oh, everyone knows what's going on and I can't believe that anyone in their right mind isn't ready to Go Democratic. You may not like his policies; but, you know not for what you do!
Poor silly Bozobama. For three years he's done nothing while the nation loses millions of jobs, and now, in an election year, when HIS job's on the line, all of a sudden he's investing to create jobs? What a sad joke this fool is; let's hope all of the US sees him for what a fool and an ieffective goof he is.
Ido, your ignorance is surpassed only by your arrogance. Obama WILL win in 2012, and he WILL help our nation. He will also have a DEMOCRATIC Congress to help him, and it will be the GOP who will hear their death knell. Go to hell, GOP. And give my regards to your old friend So Damn Insane.
The shift of jobs back to America is happening for a reason. Why don't we just let it happen, rather than spend (borrow) more money to try and facilitate what is happening on it own? Does Obama just have this incredible itch to spend money on everything?
He did a lot the first two years - until the T-Party took over the house and repubs got a strong enough minority in the senate to filibuster everything - (even bills they sponsored) that Obama supported.
It's laughable when the republicans try to blame the deficit on Obama, when they refuse to end the Bush tax cuts for the rich. We were obviously functioning far better with no deficit in the Clinton years before they were put in place.
How many provisions of his jobs bill did the republicans pass?
And what have the republicans done to produce any jobs - besides proposing to remove regulations, when, btw, it was the lack of regulations that sent the economy spiraling down at the end of Bush's tragic terms to begin with. Real smart.
He did... many times, in fact... and it was blocked by the GOP every damned time. Here is a sampling of a few of those times:
http://purpleslinky.com/trivia/history/obama-pledges-no-tax-incentives-for-companies-that-outsource-does-that-include-ibm/
http://www.theoutsourceblog.com/2010/10/obama%e2%80%99s-anti-outsourcing-bill-blocked-at-us-senate/
http://abcnews.go.com/blogs/politics/2009/05/obama-targets-b/
http://www.drudge.com/archive/137574/obama-end-outsourcing-tax-breaks
Now... I don't expect you to respond with "I stand corrected" or anything logical like that. I am certain that people who want to hate Obama will find reasons to do so. However, now everyone ELSE knows that what you are trying to insinuate is a lie ... and will likely be the same weak weapon used by the GOP to discredit a proposal that they cannot afford to openly oppose - because it is 2012.
Hope his incentives actually do provide an avenue for more work in our country instead of overseas. Our unemployed and young folks definitely are looking for a new hope for the future & that would definitely shut up the Teapubers! OBAMA 2013!!
Why has it taken Obungler this long to come up with this strategy, is he afraid?
The answer to your question.
Bassai is correct. This is part of their election strategy.
That being said, the Republican majority in Congress would never have passed it. Furthermore, the Republicans in the Senate would have philbustered the legislation to keep it from coming to a vote.
The idea is a good one. It's too bad both sides are too busy playing politics to do what's good for the country.
People if you look at the 2011 Budget proposal that Obama submitted and was rejected by DEMs and GOP you will see that Obama proposed this in Spring of 2010. The proposed budget is provided on the GPO website. Congressmen on both sides didnt want to make their lobbyist masters on K street angry.
That's a bit harsh, times are tough for everyone. Why just last week Exxon had to lay off 25 congressmen.
Funny!
Teapubers? Obungler? How old are you guys?
Just in time for the election, eh Barack?
And the Republicans candidates aren't doing the very same thing at the moment? I hear a lot of promises coming from the candidates "just in time for the election" as well.
Republicans have done their best to limit the accomplishments of the President over the past two years. It's all part of their efforts to win re-election by creating the right conditions for them to win.
When are people going to get it through their heads that the whole point of being a politician is to get re-elected - not do what's best for the country. It doesn't matter which party they belong to - they're all useless.
Lake look at what I wrote above. One thing in judging on the political process you need to be well read and turn off cable TV and talk radio.
Pamela,
While what you say is true, it doesn't really matter much with a President that in the habit of going around congress and the constitution to get done what ever he thinks needs to be done.
If this was that important to him he would've found a way to do w/o Congress. After all, isn't that what he's been doing over the past months the closer we get to elections?
AlexM,
When you have a congress that has announced that their one goal is to keep you from accomplishing anything at all, it might take going around them (as other Presidents have done in the past) once in a while. Should he just sit back and wring his hands and let the GOTea continue to drive this country off the cliff? Oh, wait... that's exactly what you wish he would do.
Laker Steve
Laker Steve, your obvious bias is showing. President Obama and the Democrats have in the past three years proposed many bills aimed at giving small businesses incentives to hire workers in this country. Every one of those measures have been opposed by the Republicans in Congress. Have you any doubt that they will also oppose this idea?
Your comment suggests that you would like to make others believe that President Obama suddenly decided to try to fix the economy and bring down the unemployment rate because this is an election year. What do you think his reason was last year? ...... the previous year?
Just in time for the election.... It seems that a little history lesson is in order. Here is just a sampling of the many times Obama has tried to fo the same thing.. against the same old GOP obstructionism:
http://purpleslinky.com/trivia/history/obama-pledges-no-tax-incentives-for-companies-that-outsource-does-that-include-ibm/
http://www.theoutsourceblog.com/2010/10/obama%e2%80%99s-anti-outsourcing-bill-blocked-at-us-senate/
http://abcnews.go.com/blogs/politics/2009/05/obama-targets-b/
http://www.drudge.com/archive/137574/obama-end-outsourcing-tax-breaks
Now... I don't expect you to respond with "I stand corrected" or anything logical like that. I am certain that people who want to hate Obama will find reasons to do so. However, now everyone ELSE knows that what you are trying to insinuate is a lie ... and will likely be the same weak weapon used by the GOP to discredit a proposal that they cannot afford to openly oppose - because it is 2012.
It will just give rich ceo's more impetus to stuff more cash in their pockets while expecting their employees to do the work of 4 people apiece at half their former salaries
How about taxing those who import products from overseas, and rewarding those that buy US made products to the same degree? That way, it would be self supporting. I think that too many businesses are buying from overseas to save money and increase their profits. Tax them and their CEO's.
Dan,
What you are calling for is what is known as import tariffs. [That is also what that business genius Donald Trump advocated.] The problem with those is that, just like sales taxes, they are actually paid by the buyer, not by the company that makes or sells them. If the same product is available at a competitive price from an American company, a shift in purchasing may occur. If it isn't, the prices will just go up and the consumer will get screwed. Quick, how many TV's, or computers, or cameras, or cell phones (or most consumer goods) are still manufactured here? Are you still sure you want to push for that?
So, Barry, what are you going to do about companies like GE who invest in foreign countries?
Oh, wait, silly me. That's your Buddies company. My bad, @!$%#.
Try reading the article. The plan is to eliminate tax breaks for companies that more jobs overseas.
This is a good initiative. Sure, you'll see large companies take advantage of it. On the other hand, this might help small and medium business owners expand operations rather than move offshore in order to remain competitive.
In terms of output, the United States is still the world's largest manufacturer. This initiative might help keep some of those operations in America.
Lets compare this to the GOPs plan to try to increase jobs in America?
What plan ? They have no plan...
Not true, they have Mitts plan, cut, slash, cut, slash.....
The GOP jobs plan: Repeal health care. Oppress Muslims. Oppress the gays. Oppress science. What's that got to do with jobs? I'm still trying to figure that out myself...
As one of my MBA friends cynically pointed out to me, the GOP/Tea Party's job-creation plan is to eliminate all public sector jobs ...except for their own, so they can stay in power over all of us.
Gee, could he have thought about something constructive rather than punitive toward businesses about 3 years ago?
Just a bit late to the party.
Yes, let's try reasoning. We can start by listing the punitive measures the Obama adminstration has inflicted on business. It should be easy since all the right wingers keep telling us about them. They certainly have had an effect. The Dow Jones has doubled since he took office and corporate profits are at historic levels. And, let's not forget that the corporate tax colllections are also at historic lows. He sure is punishing business...
How about this you manufacture here or you don't do business here.
The concept of creating a business environment that supports the expansion of business in the U.S. is one that I have been advocating for a long time.
It's unfortunate that for President Obama, this is simply political showmanship.
And this, of course, is a joke. The Obama Administration regulatory strangles make this a drop in the ocean.
He'll have a hard time getting any help from the right wingers, because they still are out to defeat him in any possible no matter how much it hurts the country, but that is their public agenda, and they can't deny it. I think it is a great idea and a very positive move for the country, but then, I am hoping that the United States makes a full recovery from the years of Bush devastation, and they don't want to do anything but assign blame to his successor.
The corporate tax code needs to be tossed and re-written from scratch.
Start taxing all companies, regardless of whether they are foreign or domestic, on all revenue derived from the American marketplace, not just profits. Then give companies a full deduction for every dollar they invest hiring American workers (with a salary/benefit cap of 250k for each worker so that we aren't subsidizing executive bonuses and golden parachutes) or buying American-made goods, supplies, parts, and materials.
As a result, small domestic companies will end up paying a lower rate on their profits, major exporters will get a big tax break, and major importers will end up paying more in exchange for having access to American consumers. And no company will be able to dodge taxes by just setting up a mailbox in Switzerland.
Jackpot. I should use that for my plan...
Mark my words, in a day or two, Republicans will cry "No".
Election year pandering? NAAHHHH!!!! Couldn't be... By the way, does that mean he is admitting that his policies of the last three years have been injurious to American business? Just asking....
Somehow conservatives will hate this.
I believe you are correct. The Wall Street investment club will not like anything that gives American business an even playing field.
James -
FYI - The 'Wall Street investment club' consists primarily of Obama backers if you look at their donations in 2008.
Or didn't you realize that Wall Street backs democrats by and large?
Hopefully by taking away the tax break companies and coporation were getting by out sourcing jobs to India and China and giving them a simialr tax break for bringing those jobs back to the USA and keeping them here will create millions of jobs. But I'll believe it when I see it!
You want companies to return to the USA?
A simple solution: impose a tax on all foreign-made imported goods that would make the price what it would be if those imported goods were made in the USA at a pay rate of $10.00 per hour.
You don't pay the tax, you don't sell your goods, and you are not allowed to pass that tax on to american consumers.
Do this, and watch every company that wants to sell sh1t in the USA clamour to start manufacturing here.
Protectionism?
You bet - it's what made American industry and manufacturing the powerhouses that they were.
Chaos......Great idea.....except......How does one go about passing any sort of tax with the flat lines that we have in congress?? Recall their pledge(s) to good ole Grover Norquist....a laughable allegiance, when we should be looking at all options, not just those that suit one party or another
l
So he makes another lofty speech on January 11, 2012? 10 months before election day? Of course he does, it's all puff and fluff as usual. Many, many business sectors have totally lost confidence in America being a great place to set up shop. I think it's incredibly condescending of him to declare it a "moral" duty for businesses leaders to do business here. He really does need to look at himself and moral absence he has shown. Once again he needs to stop pointing fingers. We will begin to come out of the trough shortly after Obama is removed from office. Once the climate changes and the tone shifts under a new President and his administration, things will get better.
We may even begin to start feeling a little more upbeat, optimistic, hopeful and excited about life in America very shortly. As we realize he and his destructively ill timed policies may soon be a thing of the past, the air will feel less heavy and we may start to feel that invigorating feeling of light heartedness again.
lololol The Dow is up and private sector job growth is up again for the second straight year. And last year it was the highest in a long time. There is a lot of Obama haters but he is doing a better job then the last president or what Mccain would have done. We are out of one war and the others has a dead line. Go president Obama!!
I think we'll be out of this at the beginning of his second term.
M- His speeches are lofty, uplifting and what the country needs to hear. Nothing wrong with that. Nobody can beat this president's personal appeal, and that is what is going to get him re-elected.
ATTENTION ALL COMMENTATORS. THERE IS NOW A WAY TO GUIDE OUR NATION FORWARD!!!!!!!! IT HAS BEEN RIGHT IN FRONT OF US THE WHOLE TIME (below).
Here is a plan that should probably cut the deficit and the debt by $9 trillion over 12 years, allowing us to hopefully get a surplus by at least FY 2013.
1. Deficit Reduction Package over 12 years:
2. Economic Plan (paid for by a 4% surtax on people who make over $1 million).
3. Reform Government.
I know it's a bit long but that is it. Please comment on it and send your suggestions.
it will never work, makes to much sense. To many big words for republicans and tea baggers to understand.
Freshiee -
One problem - What you propose violates the Constitution of the United States as the military is actually mandated as a function of our federal government - entitlements are not, but you don't seem to want to cut that, do you?
Another flaw in your 'logic' is that the entire defense budget is less than the amount you think it is and includes agencies like Homeland Security (which I will admit needs to be done away with), CIA, FBI, and the like as well.
As for your other ideas, there are problems with them as well as they will end up driving the rest of the decent jobs out of the country as well.
By the way, you do realize, don't you, that every time minimum wage goes up the cost of living goes up? There is a direct correlation. So what you are saying when you want wages indexed to inflation rather than performance is that you want to see out-of-control inflation taking place.
And to think, you complain now about the wealthy getting wealthier? It would only get worse under your 'plan'.
Have you ever taken an economics class at all?
No, I have not taken an economics class. And I admit, maybe raising the minimum wage should wait a few years. But as for the question of entitlements, doesn't the federal government have the right to improve the welfare of all Americans?? And don't entitlements work to decrease poverty among seniors (which has actually worked)?? I know that we need to reform entitlements. However, I am completely against privatizing them, because then poverty among the elderly will soar. And I know that the defense budget is about $1 trillion including military, intelligence, and what not. I just want to cut $800 billion over 12 years from it. And how would my plan send jobs out of the nation?? The reason why people outsourced jobs is because of cheaper prices in foreign nations and a lack of incentives over here. Why don't we just offer incentives here and make it easier for our companies to compete?? And how does my plan incur an increase in income disparity??? All I want to do is redistribute wealth (call me a Communist, but the government has the right to redistribute wealth in the most dire of situations) by raising taxes on those who can afford to pay them and reform education to allow the middle class to grow again and retake some ownership of wealth in America. As for the wage indexed, I just want pay RAISES to be indexed for inflation so that people won't have to accept a lower standard of living. I want performance based raises, but I think that it would be fair to index them for yearly inflation so that the people receiving them can actually get a REAL pay raise instead of one that goes negative when indexed against inflation.
Where in the world did you ever get the idea that the government has such a right. It certainly isn't in the constitution. I don't think you will find any laws that were passed. In fact, one of the major themes of the constitution is to keep the Federal government from doing just that sort of thing. We are a nation of property owners. It is our property and a government "of the people" - the government does not get to just come in and start taking away property from individuals.
He also rewarded Jeff Immelt, the CEO of GE and his Economic Recovery Adivorsy board czar, last year with allowing GE to pay 0 in taxes, even though they sold NBC for hundreds of millions of dollars, and letting GE invest over $2 billion in China to build an aircraft factory and employ Chinese people at the factory. When will the American people wake up and see his hipocracy and corrupt ways? Politician: Chicagoian for corrupt person
Oh, sure he gave GE a get out of jail tax free card. Of course, their tax avoidance was not based on laws that were passed long before Obama became president. And, of course, every president has the authority to direct how every US company spends its money. He could have at least insisted that they only hire American workers to staff that factory in China, the one that will assemble jet engines from American-made parts for the Boeing jetliners the Chinese airlines are buying. Incidentally, you do flatter yourself adopting the surnames of two legitimate intellectuals as your nom de plume.
We're waking up to the mistatement of fact and lies of the conservative right.
But you're supposed to give tax cuts to rich companies, that is how you create jobs.
Obama is not just a joke..., he's a bad joke...
You people complain if he does and complain if he doesn't. I think a lot of you should have taken office in 2008 instead and shown us how to do it correctly.
Cuz he's the worst of both worlds. He generates regulatory uncertainty so businesses freeze up then hands out easy money so they businesses dont HAVE to act like businesses. His socialist mindset has managed to create businesses that are as unproductive as union members who respond the same way to the same mindset.
lololol Wow the wingnuts are in force. I guess the Dow back up to 12000 is killing the economy right ? or Maybe another month of private sector Job growth is destroying America? Iraq Over! Afghanistan is starting to draw down to an END!. What socialist about that? And by the way you might want to pick up a history book instead of watching Fox all day because the Unions built America. I know , I know Fox said they are destroying us. But yes they are wrong.
I've realized that free trade CAN work, but only if nations are fair. They don't manipulate prices or currencies, don't offer unfair incentives, and cooperate with one another. But that is contrary to human nature. I used to hate free trade because of the lack of tariffs. Then I liked it. Then, I became espoused with fair trade, and I still am. FAIR TRADE FOR AMERICA.
Hey Buckwheat, most of the bussiness's have already left, thanks to you.
Please explain this comment with some facts. I am interested to hear more about how most of the businesses have left in the past three years due to Obama.
dobi....I'd like to hear why you believe that. The United States is still the largest manufacturer in the world. Manufacturing that's gone offshore for the most part involves low cost/high volume items. The reality is that there are still a lot of things being made in the United States. The type of legistation will help keep it here.
Admetum is right, of course. We still make and sell more durable goods, e.g., aircraft, construction equipment, autos, etc., than any other country. What we're missing, however, are the industries that make those low cost, high volume items you speak of that used to provide a lot of blue collar jobs. True, they did not pay as much per hour as Boeing or Caterpillar or Ford, but they did pay a decent wage and provided an avenue to self improvement. You could support your family by working in a textile plant, for example.
I've never seen a statistic showing this, but I'd bet that the percentage of the cost to build an airliner due to labor alone is a whole lot less that it was to produce a yard of fabric or a Wilson baseball glove. And that, I think, is why we still make and export a lot of stuff, dollar-wise, yet have an official unemployment rate of at least 8.5%. You have relatively few people making high dollar goods.
Say what you want about the need for a better educated work force (and I agree with that) but the fact is that you'll always have a lot of people who are not "cut out" to be engineers, computer nerds or CEO's. They need to work, too.
Give me a list of companies that left, dobi. If your are smart and bold enough to make such a claim, than show your evidence. In a court of law, your statement could be considered libel, or at least false due to lack of evidence. Show your evidence. Play the man, dobi. We shall this day light such a candle that, by God's grace, in America, as I trust shall never be put out. Follow the words of Hugh Latimer. Play the man. Be the man. Until then, you are just another one of those right-wing BS-faucets that have been brainwashed by the BS from Uncle Rush and Daddy Beck.
OBAMA BIDEN 2012
AMERICA 2012
After Obama took office, he had a meeting with CEO's of large Corps like IBM etc, asked them to help and stratagize on how to keep American jobs here, they paid him the usual lip service, and said yes how much they care about American jobs and workers, and then like in the case of IBM, continued to lay off thousands and outsource to India, Brazil etc. But guess what people, that is Capitalism and the free enterprise system, the President can't force them to do the right thing! No matter what the President does, you haters are going to say he is pandering for votes, NO he is doing his job!
This is true. However, the government can creat incentives.
Hummbird - You're right, the President can't FORCE business not to outsource. But he can certainly make it less attractive to do so. Removing tax incentives for outsourcing is a great start, but how about outright taxing businesses that move jobs overseas? THAT would be a good way to increase revenues, create jobs at home, AND discourage outsourcing.
Here's a novel idea, how about government get out of the way and stop taxing the corporations. Shows that the Dem and Libs think corporations pay those taxes. No, they embed them into the product and we as consumers pay them. Companies can not compete here because they must charge a higher price for the product. Companies based in other countries that aren't charged corporate taxes can sell the product at a cheaper price.
Technically, that would help, but then the government would lose a major source of income and that would be unethical. The most reasonable thing we should do in regard to taxes is to lower the corporate rate to perhaps 15-20%, but take out corporate welfare and clean up the tax code. As for regulations, we should start prioritizing which ones cost too much and whether they are doing any good. As for your comment DAF that you pay taxes for the corporations, that is true. That implies that the corporations don't have any money; the money they make is actually the consumer's money. But then again, that means that the consumer's money isn't his money, as it is out of his wages, paid by funds from another consumer. Don't try to think that corporations don't have money, because that in turn makes the notion that your money is not your money; rather the funds of the consumers who pay your wages. And name me one place without a corporate tax rate and tell me how good they are doing.
I have an idea, why don't we just stop taxing anyone or any corporations, do away with a federal government, then the military, and bring everything down to individual states that fund their own regional security, if they want to. that should save trillions and i'm sure we won't be the laughing stock of the world right away, it would take a few months.
The corporate rate in the US is 35%...on paper. With tax breaks and incentives, that increase as the company size increases, it has lowered the actual US corporate tax rate to about 12% to 14%. Think, if it's 35% here and 16.5% in Canada, why aren't all the companies running to Canada? Because when they say 16.5%, the mean 16.5%, no incentives, no breaks. 35% here is less than 16.5% there.
They keep the "company" here but send the expense of labor over to India or manufacturing to china. China has the infrastructure that we NEED here. who cares about a HUGE military, what will they guard when we collapse?
They SELL here just fine. They just don't create here... because they are greedy and don't want to pay taxes or a living wage.