How many people who are complaining about the slow economy will buy a product made in America instead of a cheaper version made overseas? A few, but not many. The American model has been for people to optimize their personal wealth. The standard of living is higher in the US than most other places. If folks are willing to accept lower wages, they too can have jobs. We cannot have it both ways. Buy American, or accept the consequences.
CEO's answer to a Board of Directors, and the B of D answer to investors who want a quick return on investment. In order to achieve this, they will find the least expensive means of manufacturing their products. When profits are high, stock values are high. Globalization does not allow any single country or president to effectively control the laws and taxes of another country, so they have little control (beyond protectionist strategies).
If so much of the country's economy depends upon small businesses, that is where the stimulus dollars should be going. Small businesses typically cannot outsource manufacturing plants. Create an environment where small businesses can thrive and an incentive for them to keep businesses in the US as they grow.
As a Canadian E.E. watching the US for the last 30 years I've seen corporate America sell out the US, little by little, in favor of corporate profits (hence executive compensation). I've also watched corporations move globally to fight to pay the least amount of taxes anywhere in the world.
It's clear corporations take advantage globally while countries pay the price nationally. How do you fix this? Locally. Global corporations will NOT help.
Well, the obvious solution to the original question is isolationism and protectionism. However, last time I checked most companies enjoy a pretty significant export trade so to do that, we'd be taking a beating in the short term, both fiscally as well as politically. So it will never happen. So a way to slowly migrate in this direction is tariffs on imports (and thus, we will be tarriffed on exports). This is obviously very, very painful in the short term. Obama was hinting at some of these approaches (but subtly). But much of this flies in the face of US preached capitalism. Thus, this approach also probably dictates that we will need to "bring the boys home" from other countries that we are trying "educate."
It’s not logical to complain about shipping off jobs unless you're prepared to start instituting protectionist ideas.
You put way too much emphasis on the comments of one man, the Intel CEO. Intel had already decided to build their fab in the U.S. Sure, the CEO would like for his company to get a tax break for a decision that had already made. But tax breaks weren't going to affect Intel's decision. His comments were obviously self-serving, and should not be viewed as some kind of grand, omniscient statement on what is required to boost our economy.
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