Some facts about the economy:
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/
- 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/
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