Obama cheerleader moving its 115-year-old X-ray business to China

Discussion in 'Politics & Religion' started by bugscoe, Jul 27, 2011.

  1. Good Grief…Head of Obama’s Economic Advisory Panel Moves Business to China
    Posted by Jim Hoft on Wednesday, July 27, 2011, 12:19 PM

    Good grief… Even the head of Obama’s Economic Panel is bailing on him.

    Obama named his longtime friend and supporter GE chief Jeffrey Immelt to head his economic recovery advisory panel in January. (LA Times)

    The head of Barack Obama’s Economic Advisory Panel is moving his business to China.
    Bloomberg reported:
    Well, we know the move was not based on taxes… GE didn’t pay any taxes last year. The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

    But that didn’t stop the company from moving business to China.
  2. Ricter


    Lol, these guys are behind the curve. China's labor costs are rising fast and businesses in the know are heading for Vietnam.
  3. Lucrum


    The hypocrisy of our "leaders" and elected officials knows no bounds.
  4. Vietnam is less than ideal for hi-tech businesses there is simply not enough of the required skills, its going to pull a lot of low to middle end product manufacturing along with Indonesia over the next few years
  5. pspr


    Isn't Immelt the "Jobs Czar"? To say it isn't going to effect any jobs in the U.S. is bull.
  6. Ricter


    True enough. Anyway, they're relocating to sell to China, not from China. Nice, short supply chain.
  7. If the US had a proper tax policy of lower corporate domestic taxes and no taxes on domestic manufacturing then it would be Americans making products for export to China.
  8. If only that was the simple solution.

    The problem with thinking small like that is it fails to see the broader issue.

    #1 In china you can hire children to work factories, not in the US.

    #2 in china you can pay someone 1-2 dollars USD a day. No american will work for 2 bucks a day when rent is 600 a month.

    #3 In China you can dump heavy metals and other pollutants right on the waterways with no issues, in the US you would get nailed by the FDA.

    #4 In China you do not need to worry about job safety, if someone gets crushed in a machine, you switch them out with a fresh employee. No nasty OSHA to deal with.

    #5 In china you can fire or not hire anyone you want anytime, no discrimination issues or worries regarding the ADA. Gotta use a Wheelchair to move around, sorry we aint hiring you and we aint building no stinking ramps.

    #6 In china you can save in IT costs by using pirated copies of software, why spend 100K in software licenses when you can send it to china and they spend 0K in software costs.

    Anyhow many more reasons why China attracts US jobs, and taxes are dead last as one of the reasons.
  9. copa8


    should've moved to india then.
  10. Oh you've got to be kidding me!

    #10     Aug 4, 2011