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Well it looks like we're really starting to fall behind the rising Asian Tigers.
China, Japan, South Korea are positioning themselves to be the leaders in technological innovation.
China is also looking to surpass us in the clean energy department.
At least some in the government recognize that there is a serious problem.
As I have posted previously those that believe in Western divine blessing or innate superiority are going to be in for a shock in the coming years and decades.
There is a New World Order. Look the East is Burning Red!!
I agree the off-shoring of high tech jobs and the importing of HB1 visa techies are not helping our situation domestically either.
We need to seriously revise our trade policy so that its works for middle income and working Americans rather than penalize us.
What we NEED to do is make it appealing to operate a business on American shores again. Taxes are driving the manufacturing jobs to other countries because businesses cannot afford to operate here. If we stop penalizing companies, they make their product here, hire more workers, bring down their overhead (ie. no overseas shipping of product) and everyone wins. It's not that difficult of a concept, but for some reason the government refuses to change things.
What we NEED to do is make it appealing to operate a business on American shores again. Taxes are driving the manufacturing jobs to other countries because businesses cannot afford to operate here. If we stop penalizing companies, they make their product here, hire more workers, bring down their overhead (ie. no overseas shipping of product) and everyone wins. It's not that difficult of a concept, but for some reason the government refuses to change things.
US corporate income taxes are not significantly higher than Japan and Germany. And other than taxes, the World Bank rates the US as the 3rd most business friendly country in the world. And each of these countries is doing well. So the business climate doesn't seem to be it..
What we NEED to do is make it appealing to operate a business on American shores again. Taxes are driving the manufacturing jobs to other countries because businesses cannot afford to operate here. If we stop penalizing companies, they make their product here, hire more workers, bring down their overhead (ie. no overseas shipping of product) and everyone wins. It's not that difficult of a concept, but for some reason the government refuses to change things.
Would that be enough incentive though? If a company is given free reign to set up shop in a nation with virtually no notions of civil or human rights, much less labor laws, would they seriously give that up voluntarily?
There are many other taxes levied on US business other than the corporate income tax. And Japan and Germany aren't exactly havens for businesses right now. And the taxes are fixing to get much, much worse. Business owners are like deer in headlights right now, because we have no idea what's coming down the pike. The government's secrecy and demonization of large business is doing nothing to make anyone feel comfortable about running their business here.
Corporations are run by very smart businessmen, and if it made financial sense for them to keep their businesses here, they would.
Would that be enough incentive though? If a company is given free reign to set up shop in a nation with virtually no notions of civil or human rights, much less labor laws, would they seriously give that up voluntarily?
It'd be a HECK of a start. If they can't afford to operate here, they can't keep their doors open. There's no magic pill, but you HAVE to start there. It's not rocket science. Bringing more businesses back to our shores will provide more jobs, more tax payers and more money. But the government is scaring the crap out of every business owner.
There are many other taxes levied on US business other than the corporate income tax. And Japan and Germany aren't exactly havens for businesses right now. And the taxes are fixing to get much, much worse. Business owners are like deer in headlights right now, because we have no idea what's coming down the pike. The government's secrecy and demonization of large business is doing nothing to make anyone feel comfortable about running their business here.
Corporations are run by very smart businessmen, and if it made financial sense for them to keep their businesses here, they would.
Japan and Germany at least still have manufacturing. The fact is, most of the developed world and developing world with the odd exception here or there(Hong Kong, Singapore) probably has more restrictive and more interventionist laws regulations on the books than we do. Compared to the rest of the industrialised world, America is actually pretty right wing.
I'm not saying it makes sense to keep business here. I'm saying there's a reason beyond what you're postulating. And I have a sneaking suspicion that it mainly has to do with free trade and dirt cheap foreign labour markets.
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