Tuesday, August 23, 2011

Thom Hartmann: The truth about tax cuts and outsourcing corporations don't want you to know...

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America's biggest transnational corporations have a secret they don't want you to know about. Arguing that they'll create jobs in the United States if they just get massive tax breaks - many transnational corporations are refusing to release just how many jobs they have ALREADY created in the United States - and how many jobs they've created overseas - over fears that if the American people saw just how much outsourcing they've been doing - then they'd miss out on their tax breaks.

When it comes time to report hiring to government statisticians - these transnational do so under anonymity - under the promise that only the aggregate amount of job creation numbers will be released - and not job creation on a company-by-company basis. That aggregate number is troubling in itself - between 2000 and 2009 - transnational corporations cut 2.9 million jobs here at home - and hired 2.4 million workers overseas. And since lawmakers can't figure out which company is ACTUALLY creating jobs here in American and which ones aren't - then it's impossible to determine which should get tax cuts.

To make matters worse - the guy heading President Obama's job creation council - GE CEO Jeffrey Immelt - is one of the biggest job outsourcers around with over half of his workforce made up of foreign workers. The real problem here is that our lawmakers for almost two decades have been drinking the so-called Free Trade kool aid - and it's destroying our economy.


(What should be done about this? Tell us here.)

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