Economics

Discussion in 'Clean Debate Zone' started by P@triot, Jul 31, 2012.

  1. P@triot
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    P@triot Gold Member

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    Some facts about the economy:

    • The U.S. actually leads the world in manufacturing. Yes, you read that correctly. We produce 21 percent of global manufactured products, while China comes after at 15 percent. According ot the National Association of Manufacturers, “manufacturing supports an estimated 17 million jobs in the U.S.—about one in six private sector jobs.”

    • Big manufacturers are building new plants here. BMW is adding 300 new jobs to its South Carolina plant this year, and Airbus recently announced it will employ 1,000 at a new plant in Alabama. (Both South Carolina and Alabama are right-to-work states, meaning that workers aren’t forced to join unions.)

    • Multinational corporations still employ more Americans. U.S.-based multinational corporations employ 22.9 million Americans—more than twice as many people as they employ in China, Mexico, and all other countries combined.

    • There is no “giant sucking sound” of jobs and money fleeing the United States. According to the U.S. Bureau of Economic Analysis, the total value of foreign investment in the United States exceeds the value of U.S. investments in other countries by more than $4 trillion. Foreign-owned multinational corporations employ 5.5 million people in the United States.

    • “Insourced” businesses are a tremendous boon for the U.S. economy. “Insourced” jobs—jobs brought to America by foreign-based companies—account for nearly 5 percent of private-sector employment. These businesses buy more than $1.8 trillion in goods and services from local suppliers and small businesses in the areas where they locate.

    • Hong Kong, ranked No. 1 in the Index, has an economy that has been growing at 7 percent. That’s astounding. In contrast, U.S. GDP growth in the first quarter of 2012 was a paltry 1.9 percent. There are several reasons why Hong Kong is No. 1 and America is No. 10. Hong Kong’s top corporate tax rate is only 16.5%, compared to the U.S. rate of 35%. Hong Kong’s trade regime is one of the world’s most competitive and efficient, with a zero tariff rate. And its regulatory environment is “highly supportive of business efficiency.”

    http://www.myheritage.org/news/the-truth-about-outsourcing-and-the-real-fix-for-our-economy/

    http://blog.heritage.org/2012/07/19/morning-bell-lets-be-honest-about-outsourcing/
     
    Last edited: Jul 31, 2012
  2. P@triot
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    P@triot Gold Member

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    "As a nation $15 trillion in debt, with historic unemployment three years after liberals supposedly “fixed” the economy with their $800 billion stimulus, voters are agreeing with conservatives that maybe government isn’t as good at solving economic problems as liberals would like us to believe."

    The results of all the runaway spending, debt and bailouts have proved Ronald Reagan correct. “Government is not the solution to our problem,” Reagan said. “Government is the problem.”

    The Government Isn’t Broken. It’s Simply Broke. | myHeritage
     
  3. Avorysuds
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    Avorysuds Gold Member

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    Sadly the Republicans elected a progressive and Obama is already a Progressive... Looks like not will change for the US for quite sometime.
     
  4. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    A stellar OP, Rottweiler, and kudos. But there are some nuances and extenuating facts that have to be included in that mix.

    For instance, there are a number of large American born but multi-national corporations that are 'in bed' so to speak with the fefderal government that pay little or no corporate taxes at any rate. Why? Because they ARE shipping their more profitable operations over seas to more business friendly environments, and keeping their least profitable opeations here where they can show a business loss and enjoy a huge tax write off.

    We need a business environment that will make it attractive to do business here in the U.S. Obviously not enough business is doing that or we wouldn't have so many millions of Americans who want work and can't find a job that pays a living wage.
     
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  5. Joe Steel
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    Joe Steel Class Warrior

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    The fact is, your facts deal mostly with the ways things are and not the difference between that and the way things were. That's where the problem lies. Republicans have devasted the economy by off-shoring so much US production that the amount we have left is nowhere near enough.

    Secondly, the jobs remaining pay less in adjusted dollars than what they used to pay.

    And the foreign manufacturers are building factories here because they regard the US as their third world. American manufactures offshore production to sweatshops in Asia because the poor deserate slugs who live there will work in abyssmal conditions for far less than they'd get if they lived in America. European and Japanese car manufacturers are doing the same thing except that they're substituting America for Asia.

    Those are the facts.
     
    Last edited: Jul 31, 2012
  6. P@triot
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    P@triot Gold Member

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    You're absolutely correct, which is why I think that last bullet point is the most crucial. We have the highest corporate tax rate in the world, which is just killing us. We nearly double the tax rate of Hong Kong, which happens to be #1 in growth.

    Unfortunately, rather than focusing on getting everyone working and taking fair taxes from everyone, the left focuses on using taxes as a tool to punish the successful. It's all tax them hard and spend, tax them hard and spend, tax them hard and spend.

    Despite these bad policies, the numbers show that outsourcing still favors us (thus Mitt Romney is not the threat the left is trying to paint him to be). Can you imagine if we lowered our corporate tax rate to the same or lower than Hong Kong? We'd rule the world! That's why we desperately need to hand Mitt Romney a conservative majority in the House and Senate in November. It's going to take a monumental effort to correct the express way to collapse that the left has placed this nation on... They are using the same policies that collapsed the U.S.S.R., Cuba, Greece, etc.
     
  7. Joe Steel
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    Presumably, you're implying the US should lower its tax rate.

    Why?

    US firms are sitting on $2T of cash they won't invest. Why should we give them more?

    Instead, we should impose a surplus capital tax. Make them spend the money or give it to the government so the government can spend it.
     
    Last edited: Jul 31, 2012
  8. P@triot
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    P@triot Gold Member

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    Who are you or anyone to "make them spend money"? It's their money, they earned it, it's their's to do with as they see fit.

    You're entire statement is pure, unadulterated Communism. If you love that so much, move to Russia or Cuba. America is never going to cave to Communism/Marxism/Socialism.

    You want to see them spend money or invest? Then stop with policies that are killing them and create policies that encourage and reward growth/spending/investment.
     
  9. P@triot
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    P@triot Gold Member

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    Do you not see the irony in what you just said? If I'm a business owner and I'm reading your posts that are demonizing me and looking to punish me, am I going to spend or am I going to sit on my money for fear that you are going to take as much of it in the future as possible? I just can't believe the left doesn't see the irony in their own philosophy. If you want business to do something for you, demonzing them and threatening them is a bad idea. Ever hear the phrase "you can catch more flies with honey than you can with vinegar"?
     
  10. P@triot
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    P@triot Gold Member

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    You're statement makes no sense. The facts show that America actually has a surplus on outsourcing (ie more jobs from other countries coming in that jobs going out to other countries). Second, we lead the world in "production".

    You're literally spouting misinformation here. Third, the GOP did not "devastate" the economy. That was done by the Democrats under Bill Clinton who singed the Community Re-investment Act and collapsed our housing market by ensuring that people who couldn't afford home loans received them.

    You're wrong on everything you just stated and the facts prove that.
     

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