CHART: Top ‘U.S.’ Corporations Outsourced More Than 2.4 Million American Jobs

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CHART: Top ‘U.S.’ Corporations Outsourced More Than 2.4 Million American Jobs Over The Last Decade
http://thinkprogress.org/2011/04/19/us-corporations-outsourced-americans/

(snip)
The Wall Street Journal reports today that Corporate America certainly isn’t doing its part to help bring America out of its economic malaise. The paper surveyed employment data by some of the nation’s largest corporations — General Electric, Caterpillar, Microsoft, Wal-Mart, Chevron, Cisco, Intel, Stanley Works, Merck, United Technologies, and Oracle — and found that they cut their workforces by 2.9 million people over the last decade while hiring 2.4 million people overseas.

The paper notes that this is actually a sharp reversal from trends in the late 1990s, when these major companies were creating more jobs in the United States than overseas. Yet by 2001, things took a turn for the worse, and these corporations have been adding more jobs abroad than at home, as is illustrated here:



As you can see from the chart, the economic recession has had little impact on Corporate America’s patriotism. In fact, in 2009, representatives of many of the nation’s most powerful corporations attended the “2009 Strategic Outsourcing Conference” to talk about how to send American jobs overseas. Conference organizers polled the more than 70 senior executives who attended the conference about the behavior of their companies in response to the recession. The majority said their companies increased outsourcing in response to the downturn, with only 9 percent saying they terminated some outsourcing agreements:





Another question asked of the executives found that the top reason for companies to outsource was to “reduce operating costs” (46 percent of respondents). Only 12 percent of respondents said their reason for outsourcing was “access to world class capabilities.” This means companies are outsourcing to save themselves money, not make better products.

(more at link)

[Vincardog]

1. Duh ya think?

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[Urban Prairie]

5. Obama continued the Bush tax cuts for the wealthy

So why hasn't St. Ronnie's trickle down theory been working, and why hasn't your Rethug leaders in the House successfully convinced their corporate capitalist overlords to create jobs here in the US?

Why did Phil Gramm state that the US was only in a "mental recession" during the summer prior to the fall elections of '08, when in reality, the Bush administration had hidden the fact that the recession actually began in December of '07?

Oh that's right, tax cuts, bailouts, and incentives still create jobs, but just no longer here in the US. Conservatives' unwavering belief in, and support of "free markets" and global corporate capitalism, along with their majority leadership in DC for about 2/3rds of the past thirty years has created that "giant sucking sound" that grows larger and louder each and every year.

[RC]

4. Here is a graphic clue to why Social Security is in trouble in the first place.

Not changing the subject -


The living Wage jobs that paid into Social Security have been eliminated. The fix is to change the Tax Code to NOT reward corporations for outsourcing. NOT by raising any caps on Social Security.
Raising the cap on S/S is the same as stretching the blanket, it may cover more, but the blanket is thinner as a result. In other words, the cap is diddling with the symptoms, not dealing with the root cause.

[Dappleganger]

6. I would like to see a direct correlation between jobs each company outsourced and exactly how much

of OUR tax dollars they received every year.

Because this assertion that these companies will take jobs elsewhere if they don't get their fucking tax break is pure BULLSHIT. They do it NOW, they've done it for a long time and this trickle down garbage is a Ronnie Raygun pipe dream.