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I would need to see a study demonstrating that half of Europe has a corporate tax lower than 16%. All that I know is that our corporate tax rate is nowhere near as high as the official number demonstrated. If us regular Joes got the same breaks the US would definitely be in a conundrum funding wise. Corporations get massive breaks and still move demonstrating in my opinion what should be obvious (their only interested in making as much money as possible). This is the case be it at our or our country’s expense. This situation is extremely serious and dangerous and becomes increasingly reminiscent of the robber baron days of the late 19th and early 20th century.
The number of European countries listed on the above link as below the 16% threshold is still less than half. As stated previously, I would love to see a study demonstrating your advocated premise that half of all European countries tax their corporations below 16%.
What people don't understand is that outsourcing offshore labor is no longer limited to manufacturing and large companies.
It's occurring on the local level now. Hospitals are outsourcing radiology services from India. Billing and Accounting services are now outsourced overseas More and more companies are outsourcing. All this is doing is creating more unemployment and a larger class divide.
That's okay though, I guess people in this country are okay with the United States turning into India and China in which there is no middle class. Yeah we need to protect the wealthiest by enabling them to lay off people and outsource people so that they can make 3 million a year instead of 2 million a year.
"In the past, the American jobs most susceptible to being shipped abroad were lower-skilled positions. But now emerging economies have been harvesting their long-term investments in math and science education and attracting high-tech firms — and not just textile factories or call centers — to their shores.
These higher skills have become commodities, said Catherine L. Mann, a global finance professor at the Brandeis University International Business School who studies the outsourcing of jobs. The programming language “C++ is now an international language,” she said. “If that’s all you know, then you’re competing with people in India or China who will do the work for less.”
In addition to lower wages, developing countries offer significant consumer growth, giving businesses a reason to make more products closer to the buyer, and hire locally.And increasingly, these new, lower-cost research centers, while perhaps initially intended to adapt products for local use, are becoming sources of innovation themselves."
developing countries offer significant consumer growth, giving businesses a reason to make more products closer to the buyer, and hire locally
And that, by the way, is a far bigger reason for the drive for globalization by American companies. There are far, far, FAR bigger opportunities to be pursued in India and China (combined population close to 10 times the population of the US - imagine the wealth and the profits to be made if their per capita GDP could reach only a third of the US level).
America on its own does not matter much anymore. The focus of the world's SUCCESSFUL businesses is shifting to Asia. Emotional appeals and even worse, protectionism, will likely do far more harm than good, as they will drive even more corporations to reduce their American workforce and establish themselves more firmly in Asia in order to avoid onerous tariffs and restrictions (who wants to get stuck inside America when soon enough, Asia will be so much bigger and more profitable? That's something all protectionists must answer)
And that's something American labor and American politicians must face without panic. We don't matter much. We're living in Asia's world now.
We do need to make our salaries more equitable. For that, we must weaken the dollar. Alas, the sneaky Chinese keep propping it up, flooding us with cheap credit money.
"In the past, the American jobs most susceptible to being shipped abroad were lower-skilled positions. But now emerging economies have been harvesting their long-term investments in math and science education and attracting high-tech firms — and not just textile factories or call centers — to their shores. These higher skills have become commodities, said Catherine L. Mann, a global finance professor at the Brandeis University International Business School who studies the outsourcing of jobs. The programming language “C++ is now an international language,” she said. “If that’s all you know, then you’re competing with people in India or China who will do the work for less.” In addition to lower wages, developing countries offer significant consumer growth, giving businesses a reason to make more products closer to the buyer, and hire locally."
"In the past, the American jobs most susceptible to being shipped abroad were lower-skilled positions. But now emerging economies have been harvesting their long-term investments in math and science education and attracting high-tech firms — and not just textile factories or call centers — to their shores. These higher skills have become commodities, said Catherine L. Mann, a global finance professor at the Brandeis University International Business School who studies the outsourcing of jobs. The programming language “C++ is now an international language,” she said. “If that’s all you know, then you’re competing with people in India or China who will do the work for less.” In addition to lower wages, developing countries offer significant consumer growth, giving businesses a reason to make more products closer to the buyer, and hire locally."
Labor cost is just a small fraction from all the costs.
A lot of countries have higher salaries than US and their tech and manufacturing industries are booming! Taxes and regulations are the main problem!
It's not taxes and tax cuts..it's the cost of US labor vs offshore labor.
Offshore labor wins each and every time.
Well damn, we finally agree on something!
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