Tag: offshoring

Section 8

The Constitution of the United StatesSection. 8

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

To borrow Money on the credit of the United States;

To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;

[emphasis added]

Congress is suppose to raise Taxes —

To provide for the general Welfare.

It’s in the Constitution!

Looks like the Congress can clap down on Foreign Trade too —

Hmmm?   I wonder if the includes “the exporting of Jobs” too?

Outsourcing effects the “general Welfare” too,  right?

(It’s hard to “be well” — without a Job.)

The Chamber of Commerce — commerce for those “other guys”

The U.S. Chamber of Outsourcing

by Dustin Ensinger, EconomyInCrisis.org — Oct 12, 2010

Just last month, the Chamber lobbied vigorously to defeat the Creating American Jobs and End Offshoring Act, which would have given companies a two-year payroll tax holiday, reducing the amount of Social Security taxes they would have to pay, for new employees who replace workers doing similar jobs overseas. The bill would have also ended tax provisions that encourage the outsourcing of jobs.

“Replacing a job that is based in another country with a domestic job does not stimulate economic growth or enhance the competitiveness of American worldwide companies,” Chamber executive vice president Bruce Josten claimed in a letter to senators.

When the $787 billion stimulus bill was passed, the Chamber fought tooth and nail to ensure that a provision requiring that all stimulus projects include only Americans-made products and services was NOT included.

Who’s Looking Out for YOU?

‘Deer in the Headlights’ — They’re Not!

Supposedly ‘Uncertainty‘ is the new Corporate buzzword.

Uncertainty‘ is the Mantra that keeps them FROZEN with inaction.

Well I guess, a lot depends on what kind of ‘Action’ — were looking at.

America’s Corporate Cash Cushion

Jonathan Cheng, WSJ Market Beat — Sep 17, 2010

The Federal Reserve put out its quarterly report on fund flows today, which shows corporate balance sheets more or less flat at $1.845 trillion, compared to $1.847 trillion in the first quarter of 2010.

[…]

Companies weren’t stuck like a deer in the headlights because of regulatory or political uncertainty,” he said. Instead, he says corporate directors have been spending on capital expenditures, M&A, and buybacks and dividends.  [ … according to Anthony Carfang, from at Chicago-based corporate treasury consultancy Treasury Strategies.]

Dividends and buybacks, like the ones announced after market close yesterday by Texas Instruments, are on the rise […]

Be afraid, be very afraid, people — Or so the Corporate Speakers are telling us.

Why you are unemployed.

In Michigan, we have an internet job/resume bank.   As one of the qualifying conditions for unemployment compensation, laid-off people are required to post their resume in the system.  We currently have 1 million resumes on file and 20,000 jobs.

US fast-tracks hi-tech trade with India; GE India first beneficiary

WASHINGTON: The United States has announced a new programme to fast-track high-technology trade with India from which General Electric’s India division will be the first Indian company to benefit.

“This is an important step in enabling a more rapid and efficient flow of sensitive technology between India and the United States,” US Secretary of Commerce Gary Locke announced at the US-India Business Council’s 34th Anniversary “Synergies Summit” Wednesday.  –snip–  

We’re looking forward to reciprocal actions from our partner,” Locke said encouraging other Indian firms also to take advantage of the programme. –snip–

The only countries eligible for the programme to date are India and China, which was approved in late April.

Last year, US companies exported $18 billion worth of goods to India, and India shipped the United States $25 billion worth of goods, Locke said.  –snip–

With Democrats like Obama, corporations don’t need the Republicans in the White House.

hat tip

Unemployed? Get used to it.

Our Kleptocracy: Saving the American economy by looting it

“Economists are already floating the concept that Americans better get used to a lower standard of living.  Hundreds of thousands of jobs have vanished forever in industries such as auto manufacturing and financial services. Millions of people who were fired or laid off will find it harder to get hired again and for years may have to accept lower earnings than they enjoyed before the slump.



Layoffs now taking place are similar to those in the 1981-1982 recession, when unemployment peaked at 10.8 percent and 2.8 million jobs disappeared, leaving industries such as durable-goods manufacturing permanently smaller. Some 14 percent of durable-goods positions vanished in that slump, and the sector never regained the employment level of June 1981.”

also at

Selling of America

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“People who are my age have no idea what they are going to do,” Suter said, trying to angle a workbench into his trailer. “How they are going to live on $12 an hour without benefits when we’re used to $29 with benefits? You can’t make an economy on cleaning somebody else’s shirts or selling mutual funds. What are towns like Ypsilanti going to do?”

Ypsilanti is not the most besieged city in Michigan, but is an auto town, and its problems mirror those of the larger industrial Midwest. Just four square miles and 35 miles west of Detroit, it has lost more than 25 percent of its population since 1970. Schools have closed, as did its two other auto-related plants. Outside the Visteon plant, located on Factory Street in Ypsilanti alongside Interstate 94 and Ford Lake, the building that housed the UAW Local 849 is for sale. –snip–