http://www.nytimes.com/2011/08/31/busin ... urden.html
Where did all those American jobs go?
Top executives are rewarded most when they avoid taxes in stead of encouraging innovation.
At least 25 top United States companies paid more to their chief executives in 2010 than they did to the federal government in taxes, according to a study released today.
While the accounting strategies used to lower taxes varied from company to company, the report found that 18 of the 25 corporations had offshore subsidiaries, which can be used to shelter income.
Those trillions of bucks warehoused in these offshore subsidiaries are American jobs lost.
Offshore subsidiaries key to a big paycheck.
Choff... you just don't understand how the game is played.choff wrote:If 400 families have as much money as the bottom 50% of the population, and the top 1% have 70% of the wealth, then it stands to reason problems of the bottom 99% are of no consequence to the people in charge. I saw a report that claimed only 63% of employable US men have jobs.
As MSimon so kindly warned me:
"Be ready to take a beating. Lots of engineers here. Some very smart cookies. And as a group they tend libertarian and have given it a lot of thought."
American libertarianism is concisely nut-shelled as “every man jack of them for themselves”.
Its not the job of the corporations and banks to provide jobs to Americans, their CEO's must turn every trick in their sleazy trick bag to increase stock value for their Saudi sovereign wealth stockholders who will naturally reciprocate at the next board meeting by supporting the award of a well deserved and long overdue Golden Parachute, stock option and profit incentive program.
It is not the job of the elected congressional representatives of all those lowly workers who only have themselves to blame. They must have done something wrong somewhere along the line to deserve their fate; we can't be bothered with them, we have our own problems. Those Saudi and Chinese super-pack contributors need to be well plied with solid legislative results that will totally protect their interests and loopholes. That's how the political game is played; that's how you get reelected; and that's how you get that big money lobbying job when your term is up.
It is not the job of the stockbrokers, banks and mutual funds to keep the life savings of the little man accumulated over these many years on a penny-wise basis in all those paltry 401K.'s whole.
If these poor bastards can’t outsmart the hedge funds, the stock trading programs running day and night in all those supercomputers or out-game the many SEC approved Ponzi schemes then they deserve their fate. After all, if they want to play in the same pool with the big fish then they can and most likely will be eaten for lunch.
It is not the job of business to look after America: Big business is libertarianism raised to a high art. The world of business has gone global and America just has to look after itself.
Yeah, its a rich man's world, the rest of us just happen to be in it filling in the landscape. Strictly speaking, the multinationals are US in name only, they invest it all in the BRIC countries.
When I was a kid, I was spoon fed Social Credit Party economic theory by my parents, who were members. (My dad used to attend Technocracy mettings before I was born as well). Now ,when I look at how things are going, I sometimes wonder if the Socreds weren't all that crazy.
When I was a kid, I was spoon fed Social Credit Party economic theory by my parents, who were members. (My dad used to attend Technocracy mettings before I was born as well). Now ,when I look at how things are going, I sometimes wonder if the Socreds weren't all that crazy.
CHoff
At some point, that point being a while ago, an imbalance occurs between corporate interests and public interests. The more we bail out, back up, ease profitability without return in the way of jobs, you'll see a backlash from the public. Personally I'd like to see tax hikes on corporations hiring outside of the U.S., but that's another argument altogether.