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December 28, 2010
MSNBC: U.S. Companies Are Hiring ...
Topics: Political News and commentariesYep, it's true. U.S. companies are indeed hiring ... just not here in the U.S.
According to the Associated Press, one of the reasons for high unemployment here at home is fast-growing overseas markets and big profits.
... The Economic Policy Institute, a Washington think tank, says American companies have created 1.4 million jobs overseas this year, compared with less than 1 million in the U.S. The additional 1.4 million jobs would have lowered the U.S. unemployment rate to 8.9 percent, says Robert Scott, the institute's senior international economist.While the AP aptly points to several factors behind companies hiring more overseas, it chooses to ignore one of the main reasons for ... America has the highest corporate tax rate in the world (When state corporate taxes are added to the federal burden, our country's average corporate tax rate is almost 40%)."There's a huge difference between what is good for American companies versus what is good for the American economy," ...
The Center for Data Analysis predicts that lowering the corporate tax rate to 25% will increase the number of jobs annually by 581,000 on average from 2011 to 2020. Our GDP will rise by an average of $132 billion, and a typical family of four will see its after-tax annual income rise by almost $2,500.
Related: The Cause of High Unemployment: Still Due to Dwindling Job Creation ( ... businesses cutting back on investment and entrepreneurs starting fewer comÂpanies because of high taxes, costly regulations, and unknown future regulations)
Posted by Richard at December 28, 2010 3:04 PM
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- MSNBC: U.S. Companies Are Hiring ... - Dec 28, 2010
