Bottomline
Government is shipping defense jobs overseas
Individuals buying foreign goods
Shipping jobs overseas by not doing for ourselves: Energy is huge, maximize
Getting costs and tax incentives into favoring doing it here
Eliminate huge trade deficit with China
Stop the complaining and do persuasion and action
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MALIGNING OTHERS FOR SENDING JOBS OVERSEAS - AND THEN DOING IT ONESELF?
In the political make-wrong arena, people and corporations are maligned for sending jobs overseas, as if it is a sin or illegal. And those same accusers are buying from other countries because the goods are cheaper, even buying foreign cars when they in fact aren't cheaper - seemingly with no concern or maybe no consciousness of how they are taking away from American jobs.
The current administration is sending jobs oversears too.
Our defense department has awarded a $1 billion defense contract to Embraer, a Brazilian owned and opeate aircraft manufacturing company (which is also currently under investigation by the Department of Justice and the SEC for corruption and bribery).. See: saveUSdefensejobs.com
MAXIMIZING WHAT WE CAN DO FOR MYSELF
Every dollar of oil we do not produce here and/or delay contributes to not having jobs for Americans. The refusal to approve the Keystone Pipeline, for what even Democrats acknowledge as for political reasons, is an example.
We've got to streamline the approval of permits, as Romney did in Massachusetts (cutting the time by
, so that there aren't such huge delays. We need to have a business friendly environment. This would include doing what it takes to get nuclear energy up to speed (and few people realize how incredibly safe it is now with current technology compared to the '70's.
COMPETITIVE COSTS AND TAXES
Why are companies outsourcing work to other countries? Simply put, the current economic structure strongly encourages companies to move their jobs overseas. Using cheap overseas labor to make products and deep American pockets to buy them, companies can increase their profits on both sides of the production equation.
Add in the fact that several countries, like Ireland and the Netherlands, offer attractive tax rates, and in many cases, it doesn't even make sense for companies to bring their profits back to American banks. The U.S. corporate tax rate is among the world's highest, with a federal rate of 35% and state rates that can tack on up to 12% more. By comparison, China charges 25% and Korea's starts at 13%.
The problem is compounded by America's tax policy, which allows companies to hold off on paying American taxes until they bring those funds into the U.S. Not surprisingly, many companies park their profits in foreign banks: General Electric, for example, has $62 billion in profits sitting in offshore bank accounts.
General Electric announced it's moving its 115-year-old X-ray business from Waukesha, Wisconsin to Beijing, China.just part of a broader plan by GE to invest $2 billion in China.
Eliminate huge trade deficit with China
A good businessman prioritizes based on "where's the money?" Given the benefit of controlling and stopping China at the highest level (which will still be imperfect of course), we could spend billions of employing top people and setting up monitoring and stopping of unfair trade practices and criminality.
