Where are the jobs? For many companies, overseas

[defendandprotect]

Where are the jobs? For many companies, overseas

By PALLAVI GOGOI, AP Business Writer Pallavi Gogoi, Ap Business Writer

The trend helps explain why unemployment remains high in the United States, edging up to 9.8 percent last month, even though companies are performing well: All but 4 percent of the top 500 U.S. corporations reported profits this year, and the stock market is close to its highest point since the 2008 financial meltdown.

But the jobs are going elsewhere. The Economic Policy Institute, a Washington think tank, says American companies have created 1.4 million jobs overseas this year, compared with less than 1 million in the U.S. The additional 1.4 million jobs would have lowered the U.S. unemployment rate to 8.9 percent, says Robert Scott, the institute's senior international economist.

"There's a huge difference between what is good for American companies versus what is good for the American economy," says Scott.

American jobs have been moving overseas for more than two decades. In recent years, though, those jobs have become more sophisticated — think semiconductors and software, not toys and clothes.

http://news.yahoo.com/s/ap/us_overseas_hiring

[Phlunk]

1. The US is a tough place to do business compared

to many other countries. Higher wages, higher taxes, higher regulation.

I might be all wrong but think of the following scenario and see if it makes sense.

Lower taxes, federal, state and local for companies that employ over 90% of their workers here in the US. This would make it more attractive for them to keep jobs here. The revenue shortfall to the government would be made up by people working and paying taxes.

[defendandprotect]

2. Yes, US labor is finding it tough to compete with slave labor .....

What you're proposing is more of the downward spiral for labor -- not only

in America but all over the world -- and more of the upward spiral for corporate elites.

More welfare for the rich --

free enterprise for the poor --

We've done that -- what it delivers is GOP "third world America" --


:eyes:

[Phlunk]

3. I would disagree

By keeping jobs here it would be good for labor....more jobs=higher pay, fewer jobs=lower pay.

I also wouldn't view it as a handout for the rich. It would simply put US companies that keep jobs in the US on a more even playing field with other parts of the world. They could then justify keeping jobs here instead of exporting them. The alternative is they continue to send jobs overseas.

[defendandprotect]

16. I'm sure you would ....

Overturn the trade agreements and let's keep jobs here ...

Let's have more unionization of labor --

They're sending jobs overseas because we're creating benefits for them to do so --

See Chamber of Commerce --

And, they used private pension funds to finance moving these jobs overseas.

You see no "Welfare for the rich" .... ?

You mustn't be looking very hard!

[Elwood P Dowd]

4. How can you lower taxes to below ZERO?

Most giant US corporations pay nothing in federal income taxes. Their obscenely rich CEOs and major investors pay only 15% in federal income taxes and no FICA taxes. Local and state governments keep giving them tax breaks to locate in their area. Corporate America has already been deregulated enough. Often, the regulations still left are ignored and not enforced thanks to all the repukes and corporate friendly administrators at federal and state levels.

The jobs are leaving because the corps can pay foreigners slave wages without benefits and pollute the living shit out of the environment without any repercussions. They can then ship the product back to the USA with a tiny 2% tariff and often ZERO product safety inspections. We can bring these jobs back only when Americans agree to work for $2.00 an hour or less.

[Phlunk]

5. US Corporations pay a fortune in taxes

Yes they get breaks but the tax burden is still enough to choke a horse. I'm not at all sugesting we de-regulate anything. If we want good jobs we need to give companies incentives to stay here......it's as simple as that.

Think also in terms of small businesses which employ an ever growing percent of the people in this country. They do not get the tax breaks that many of the bigger corporations are privy to. It would be a boon to small business if they could get a break. More of them would stay here instead of being forced to outsource

[Elwood P Dowd]

6. Sorry, but you are wrong.

http://www.reuters.com/article/idUSN1249465620080812

Edit to add: A few headlines for you.......


Search Results

1.
Study says most corporations pay no U.S. income taxes | Reuters
- 7:35pm
Aug 12, 2008 ... WASHINGTON (Reuters) - Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, ...
www.reuters.com/article/idUSN1249465620080812 - Cached - Similar
►
2.
Corporations Don't Pay Taxes « Stand Up For America
Corporations Don't Pay Taxes. Posted by USWeapon on April 9, 2010. People do! There have been extensive conversations over the last year around the ...
standupforamerica.wordpress.com/.../corporations-dont-pay-taxes/ - Cached
3.
Wealthiest Corporations Don't Pay Taxes? « It's Getting Hot In Here
Apr 16, 2010 ... So here is the million dollar question: who pays for the taxes, the evil X corporation or us the customer? When corporations pay more in ...
itsgettinghotinhere.org/.../wealthiest-corporations-dont-pay-taxes/ - Cached
4.
ThinkProgress » ExxonMobil paid no federal income tax in 2009 ...
Apr 6, 2010 ... Pat Garofalo at the Wonk Room notes that big corporations' tax shelter ... don't show any net income tax liability owed to Uncle Sam, ...
thinkprogress.org/2010/04/06/exxon-tax/ - Cached
5.
Most Corporations Don't Pay Income Taxes
Aug 12, 2008 ... Most Corporations Don't Pay Income Taxes (Image: Jcusa.com). Most corporations, including the vast majority of foreign companies doing ...
www.truth-out.org/article/most-corporations-dont-pay-income-taxes - Cached
6.
Two-Thirds of Corporations Don't Pay Taxes – Nothing More Than ...
Aug 20, 2008 ... Are Businesses Getting Out of Paying Taxes or is it Just a Good Story for the Media and Politicians? One of the big stories last week was ...
genxfinance.com/.../two-thirds-of-corporations-dont-pay-taxes-nothing-more-than-political-hogwash/ - Cached - Similar
7.
Corporations Don't Pay Taxes--<br>People Do!
May 4, 2009 ... Corporations don't pay taxes—people do. Corporations are legal entities which collect taxes from real live human beings. Here's how: ...
www.atr.org/corporations-dont-pay-taxes-brpeople-a3203 - Cached - Similar
8.
What The Top U.S. Companies Pay In Taxes - Forbes.com
Apr 1, 2010 ... How can it be that you pay more to the IRS than General Electric?
www.forbes.com/.../ge-exxon-walmart-business-washington-corporate-taxes.html - Cached
9.
Corporations Don't Pay Taxes, People Do - by Stephen Slivinski ...
Mar 1, 2004 ... Continues Carter, who is chairman of Economists for Bush, “As most college freshmen learn in Economics 101, corporations do not pay taxes, ...
www.heartland.org › Budget & Tax News › March 2004 - Cached - Similar
10.
Corporations don't pay taxes. People do. | MetaFilter
Jan 7, 2008 ... Obviously, someone pays the taxes. At first I thought this was a rant on how corporations don't pay taxes, but I seem to be mistaken. ...
www.metafilter.com/.../Corporations-dont-pay-taxes-People-do - Cached - Similar

[Phlunk]

7. Read the article

During one or two of the years they paid no tax. It is very common for all companies to have years where they have operating losses and pay corporate tax. You can't pay tax on lost money right?

It is not saying that they don't pay taxes just that during 1 year or in some cases 2 years of the 7 years they paid no tax dues to losses or shifting money overseas. the article talks about gross sales....hell a company can have a trillion dollars in gross sales and still lose money.

The article helps make my point. With a lower tax rate here they wouldn't have to send hide all that money over seas.

[Elwood P Dowd]

10. I call BS on that. Why are you defending these assholes?

A lower tax rate isn't going to bring any jobs back. They want cheap labor with zero health or retirement benefits. They want lax or nonexistent environmental and consumer product regulations. You sure don't sound like any Democrat I know.

[Phlunk]

11. I'm simply trying to have a healthy debate and think outside

the box. I'm not in any way suggesting we line the pockets of the rich more than they already are.

The fact is that it is the job of the people running a company to make the maximum amount of money possible for the corporation. If they fail they are ousted and new management is brought in. In the case of a company that produces a product, yes they want cheap labor, low taxes and all that stuff. In todays world that means packing up and going overseas......and taking our jobs with them.

I am simply trying to put forth a solution that would make it more attractive to not move over seas but to keep the jobs here in the US. We can't compete with the labor rates, wouldn't want to. I also wouldn't want to see us soften environmental regulations.

Does anyone have a better solution?

[NNN0LHI]

12. Does anyone have a better solution? I do

How about we quit buying the products they are importing until they bring the jobs back here?

Don

[Phlunk]

13. Hi Don

I agree with that one and always buy American when I can. But there are very few choices out there and it's rather confusing at times. Should i buy a car from a US company knowing it was made in Mexico or should i buy a foreign car made in Kentucky by non-union workers?

[NNN0LHI]

14. Its as easy as it can be

Buy the one that has a clear plastic sticker on either the windshield or one of the other windows that says "Proudly Built By UAW Workers." On my Explorer its on the windshield. On my wifes Taurus it is located on the right rear passenger side door window. That sticker will not be found on a car imported from Mexico or built at a scab auto plant in Kentucky.

Good luck and thank you for supporting American union workers. Hope I can do the same for you some day.

Don

[Phlunk]

15. My truck was made by UAW workers

And I love it! But the point still exists that there aren't enough american products to buy and they are becoming fewer and fewer. How do we change the direction. My plan may not be the best but i don't know of one better.

[Phlunk]

8. Further

Just because they may not have paid federal corporate taxes doesn't mean they didn't have to pay state and local taxes.

But skip the large companies. Think about the smaller companies that employ a hundred people give or take. These are the companies that employ the largest segment of workers. They generally don't get the breaks the largest corporations can buy themselves. We could keep a lot of them in business and encourage new ones to start up bringing back much needed jobs.

[2Design]

9. most corps get money from usa government and then they spend it overseas

they don't pay taxes