The Obama campaign has released a new ad taking a hard hit at Mitt Romney, accusing the presumptive Republican nominee of presiding over Bain Capital while it sent jobs out of America.
Some, like FactCheck.org, have accused the Obama campaign of being misleading with these claims. The campaign responded with a letter that you can read here.
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The only way insourcing will work if we cut taxes across the board and stop over-regulating. Unfortunately under this current administration...... FORGET ABOUT IT.
Don't want outsourcing? Try taking the tax off the foreign held profits that have already been taxed in the coutries in which they were made by the MultiNational Companies, that would then repatriate them back here for expansion of operations stateside!
But, again, no one, not the Obama Campaign, not the Washington Post Reporter, certainly not the liberal media parrots of anything derogatory that might be bandied about on Romney has been able to name a single company that Bain invested in under Romney's leadership that outsourced off shore American jobs. Oh, they were a few I know about that were failing companies invested in, restructured, and then went into expansion mode adding jobs as they thrieved both over seas and in the States, but that is a plus, plus! With the exception of meats and corn products, the Global nature of our economies dictates playing on more than one stage if one is a corporation with any kind of efficiency of scale in their operations.
Wake up, folks! Even the Federal Goverment's investment of TARP funds into General Motors to the tune of $80 billion dollars ($24 billion of which is lost to us) spurred more growth of jobs overseas than it did here in the United States. Of GMs 220,000 employees world wide, only 50,000 are in US operations. And since the infusion of all thodr borrowed and tax dollars, GM is yet to pay ANY taxes in the US, and leaves their profits made overseas over there!
Romney and Representative Ryan have a plan for that, you know. Go to his campaign website and look it up!
One blogger here (an economic illiterate cab driver from Utah, for heavens sake, tried to pass off Daily Kos and Al Sharptons naming Instatata Technologies (a private company from Massachusetts that Bain Capital (a Massachusetts based company that specializes in controls and switches for a wide variety of industires, including aerospace and autormotive and utilities and HVAC (Heating, Ventilation, Air Conditioning) equipment as being the only company that came to light. This company, founded in 1916, began in the 1950s to expand thru aquistions, and opened its first operations in Holland in the 50s, soon to add more in the late 50s in several other overseas locations. It was expanding! And, after Bain Capital invested in 2006, 7 full year after Romney left Bain to save the Winter Olympics, the company acquired Honeywell's electronic controls operations and patents. Further rapid expansion took place, and this company is one of the growth companies that has added jobs both stateside and overseas as it structures to compete with Johnson Controls, Inc. (the recognized leader in this field). In 2010 this company went public with an IPO offering, and is available for anyone who wishes to purchase their stock on the NYSE. If you are a serious backer of conservation and green energy, l suggest you might look into this one, that gets a strong buy rating from Wall Street analysists presently.
Eat that Obama, Sharpton and Cab Driver! You fools!
Sorry, there should have been the phrase "invested in" after Bain Capital in the first sentance.