What is pushing America's manufacturing jobs overseas?
(1) Corporate Tax: 35% corporate tax (which regardless of popular misconception many companies pay) + State corporate tax. Put those togther they are the largest in the world. These taxes DRIVE up the price of goods big time
(2) Payroll Tax:The payroll tax, both the employer and employee pay it. It's a small business killer. It increases prices 10 fold and is a HUGE incentive to move overseas. These taxes drive up the price of goods big time.
(3) Over-regulation: Under-regulation isn't the answer. Rather smart regulation is the best answer. No more 1000-2000 page laws that no one understands, have parts that contradict each, have parts that don't have anything to do with the main point of the law, ones Congressman can't read before signing and ones that are so over-board it great meaningless regulations. Legislation used to be 10-20 pages. GO BACK TO THAT! If it legislation needs to be greater than 20 pages there must be a damn good reason or should be in two separate bills! Over-regulation drives up the cost of good big time.
(4) Unions (Esp. the Public Sector ones): Union corruption and billigerence. Unions don't protect the worker anymore, nor do they create jobs. Rather they are a prime source for lining their pockets, killing jobs and driving industries over seas. Curtail them bigtime.
(5) Bill Clinton Tearing Down Trade Barriers with China and Propelling China into the WTO: Clinton sold us out to China. They have trade barriers against us, but we have none against them. They manipulate their currency and have slave wages for a country that is suppose to be developing and emerging as a world power. We need to take them on and hit them back. They are truly at our mercy. The trade imbalance with them is the largest between two country in world history. A trade war hurts them 10 fold more than it hurts us. You say they hold our debt. True, but it wouldn't be the first time in history a debt total the creditor, we will pay you on our terms! Heck that is what Cinco De Mayo is all about!
(6) Domestic Energy: We are at the mercy of foreigner's for our oil. Many who don't like us. If we decided to drill in CO, ANWR, overshore and Deepsea, we could be off Saudi, Nigeria, Brazil and Venezuela oil in a few years. Getting 75% of our oil domestically and getting the other 25% from our best friends north of the border. In 8 years we could be an oil exporter. Open up natural gas and nuclear! We could be a natural gas user and export!
I know Herman Cain is done, but his 9-9-9 plan, his SMART regulation (and I would support a economic genius and superstar businessman constructing our regulations over a community organizer), short readable regulation stance, his drill baby drill stance and his plan to fight the trade war with China is what would revitalize the American Economy. Removing just the payroll and lowering the Corporate and income tax would create an economic boom. The 9-9-9 pay and SMART regulation, would give an advantage against the 3rd world's slave wage advantage.
Too bad the Cain is done, but that is the sad fact!
(1) Corporate Tax: 35% corporate tax (which regardless of popular misconception many companies pay) + State corporate tax. Put those togther they are the largest in the world. These taxes DRIVE up the price of goods big time
(2) Payroll Tax:The payroll tax, both the employer and employee pay it. It's a small business killer. It increases prices 10 fold and is a HUGE incentive to move overseas. These taxes drive up the price of goods big time.
(3) Over-regulation: Under-regulation isn't the answer. Rather smart regulation is the best answer. No more 1000-2000 page laws that no one understands, have parts that contradict each, have parts that don't have anything to do with the main point of the law, ones Congressman can't read before signing and ones that are so over-board it great meaningless regulations. Legislation used to be 10-20 pages. GO BACK TO THAT! If it legislation needs to be greater than 20 pages there must be a damn good reason or should be in two separate bills! Over-regulation drives up the cost of good big time.
(4) Unions (Esp. the Public Sector ones): Union corruption and billigerence. Unions don't protect the worker anymore, nor do they create jobs. Rather they are a prime source for lining their pockets, killing jobs and driving industries over seas. Curtail them bigtime.
(5) Bill Clinton Tearing Down Trade Barriers with China and Propelling China into the WTO: Clinton sold us out to China. They have trade barriers against us, but we have none against them. They manipulate their currency and have slave wages for a country that is suppose to be developing and emerging as a world power. We need to take them on and hit them back. They are truly at our mercy. The trade imbalance with them is the largest between two country in world history. A trade war hurts them 10 fold more than it hurts us. You say they hold our debt. True, but it wouldn't be the first time in history a debt total the creditor, we will pay you on our terms! Heck that is what Cinco De Mayo is all about!
(6) Domestic Energy: We are at the mercy of foreigner's for our oil. Many who don't like us. If we decided to drill in CO, ANWR, overshore and Deepsea, we could be off Saudi, Nigeria, Brazil and Venezuela oil in a few years. Getting 75% of our oil domestically and getting the other 25% from our best friends north of the border. In 8 years we could be an oil exporter. Open up natural gas and nuclear! We could be a natural gas user and export!
I know Herman Cain is done, but his 9-9-9 plan, his SMART regulation (and I would support a economic genius and superstar businessman constructing our regulations over a community organizer), short readable regulation stance, his drill baby drill stance and his plan to fight the trade war with China is what would revitalize the American Economy. Removing just the payroll and lowering the Corporate and income tax would create an economic boom. The 9-9-9 pay and SMART regulation, would give an advantage against the 3rd world's slave wage advantage.
Too bad the Cain is done, but that is the sad fact!
Is America Falling into Post-Industrialism? | Economy In Crisis
The following are 19 facts about the deindustrialization of America. These facts will blow your mind....
#1 The United States has lost approximately 42,400 factories since 2001. About 75 percent of those factories employed over 500 people when they were still in operation.
#2 Dell Inc., one of Americas largest computer manufacturers, has announced plans to dramatically expand its operations in China with an investment of over $100 billion over the next decade.
#3 Dell has announced that it will be closing its last large U.S. manufacturing facility in Winston-Salem, North Carolina, in November. Approximately 900 jobs will be lost.
#4 In 2008, 1.2 billion cellphones were sold worldwide. So how many of them were manufactured inside the United States? Zero.
#5 According to a new study conducted by the Economic Policy Institute, if the U.S. trade deficit with China continues to increase at its current rate, the U.S. economy will lose over half a million jobs this year alone.
#6 As of the end of July, the U.S. trade deficit with China had risen 18 percent compared to the same time period a year ago.
#7 The United States has lost a total of about 5.5 million manufacturing jobs since October 2000.
#8 According to Tax Notes, between 1999 and 2008 employment at the foreign affiliates of U.S. parent companies increased an astounding 30 percent to 10.1 million. During that exact same time period, U.S. employment at American multinational corporations declined 8 percent to 21.1 million.
#9 In 1959, manufacturing represented 28 percent of U.S. economic output. In 2008, it represented 11.5 percent.
#10 Ford Motor Company recently announced the closure of a factory that produces the Ford Ranger in St. Paul, Minnesota. Approximately 750 good paying middle class jobs are going to be lost because making Ford Rangers in Minnesota does not fit in with Ford's new "global" manufacturing strategy.
#11 As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time less than 12 million Americans were employed in manufacturing was in 1941.
#12 In the United States today, consumption accounts for 70 percent of GDP. Of this 70 percent, over half is spent on services.
#13 The United States has lost a whopping 32 percent of its manufacturing jobs since the year 2000.
#14 In 2001, the United States ranked fourth in the world in per capita broadband Internet use. Today it ranks 15th.
#15 Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.
#16 Printed circuit boards are used in tens of thousands of different products. Asia now produces 84 percent of them worldwide.
#17 The United States spends approximately $3.90 on Chinese goods for every $1 that the Chinese spend on goods from the United States.
#18 One prominent economist is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040.
#19 The U.S. Census Bureau says that 43.6 million Americans are now living in poverty and according to them that is the highest number of poor Americans in the 51 years that records have been kept.