Great corporations exist only because they are created and safeguarded by our institutions; and it is therefore our right and our duty to see that they work in harmony with these institutions.
The noise from the election machine is at 120 decibels. If you don't wear ear plugs you'll damage your hearing. Campaigns and their surrogates are misquoting statistics, rewriting history and are carpet bombing Ohio with ads and armies of campaign workers knocking at the door.
CBS 60 Minutes profiled one town near Purgatory mountain, Asheboro, North Carolina to show what's really wrong with the U.S. economy. It's not taxes, small government or big government, or even the deficit. The real problem are jobs going offshore, companies treating workers as disposable and the never ending race to the bottom on wages, global labor arbitrage.
The Senate Subcommittee on Investigations held a hearing, Offshore Profit Shifting and the U.S. Tax Code. Did you know U.S. Multinational Corporations have more than $1.7 trillion in untaxed profits stashed as undistributed foreign earnings and keep at least 60% of their cash overseas? That these earnings have increased 400% in the last decade? That corporate tax as a percentage of total Federal revenues has dropped to only 8.9%?
The Obama Administration is committed to protecting the rights of nearly 800,000 American workers in our $350 billion auto and auto parts manufacturing sector.
Export subsidies are prohibited under WTO rules because they are unfair and severely distort international trade. China expressly agreed to eliminate all export subsidies when it joined the WTO in 2001. China benefits from international trade rules and must in turn live up to its international obligations.
While this action is long overdue, the realty is this administration has been complicit with China, refusing to label them a currency manipulator. Additionally the Obama administration has passed even more bad trade deals and is working on a mega bad trade agreement, the TPP.
While Chinese auto part imports have surged 25% in the last two years, so has the overall manufacturing trade deficit. Below is the percent change from a year ago in the manufactured goods trade deficit. This trade deficit has increased 14% from one year ago and 26.3% from two years ago.
Ah, we all know the claim offshore outsourcing is good for America. Seems offshore outsourcing is great for drug dealers and money launders too. Did you know offshore outsourcing enabled money laundering, flash crashes and failed projects?
The DFS probe found that SCB had assured the New York state in May 2010 that it would take immediate steps to comply with the US Office of Foreign Assets Control (OFAC) sanctions. However, another regulatory examination in 2011 found continuing and significant Anti Money Laundering failures.
Among these, the bank was outsourcing its "entire OFAC compliance process for the New York branch to Chennai, India, with no evidence of any oversight or communication between the Chennai and the New York offices."
Houston, we have a problem. We need jobs. The never ending political banter on immigration is a droning inane brew of special interests. One thing always is constant. At the back of the pack is America's middle class. We even have various groups supposedly representing U.S. labor who seem to be interested in illegal immigrants instead. Even worse, we have numerous lobbyists spinning out economic fiction, trying to claim offshore outsourcing is good for America or displacing U.S. workers with foreigners is somehow good economically. Neither is true. Worker displacement is worker displacement and if anyone is alive these days, the employment statistics say it all. Indeed we saw the foreign born getting majority of the jobs from 2008-2010. We need jobs for U.S. citizens, American workers. We also need a big legal rubber stamp proclaiming U.S. workers are preferred for all jobs within our shores.
Did you know Silicon Valley's best export is American jobs? That China has a new policy which is a bigger threat to the U.S. economy and jobs than direct offshore outsourcing has been?
The U.S.-China Economic and Security Review Commission held a hearing, China’s Five Year Plan, Indigenous Innovation, and Outsourcing and contained within are more damning facts about China running amok in terms of capturing U.S. industry for themselves.
China lays out economic strategies by five year detailed plans. The latest calls for Chinese investments, that's government investment, of up to $1.5 trillion to develop alternative energy, biotechnology, information technology, advanced equipment manufacturing, alternative fuel autos and other energy saving, environmental technologies.
China's indigenous innovation policy means corporations are forced to technology transfer to China their intellectual know-how, advanced technologies in order to even do business in China and certain to obtain Chinese government contracts.
The noise from the election machine is at 120 decibels. If you don't wear ear plugs you'll damage your hearing. Campaigns and their surrogates are misquoting statistics, rewriting history and are carpet bombing Ohio with ads and armies of campaign workers knocking at the door. 
Ah, we all know the claim offshore outsourcing is 
Houston, we have a problem. We need jobs. The never ending political banter on immigration is a droning inane brew of special interests. One thing always is constant. At the back of the pack is America's middle class. We even have various groups supposedly representing U.S. labor who seem to be 
Did you know Silicon Valley's best export is American jobs? That China has a new policy which is a bigger threat to the U.S. economy and jobs than direct offshore outsourcing has been?
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