The New Global & American Elite-- Decimating the American Middle Class

glynch · Jan 24, 2011

YallMean said:

The labor jobs had been gone for a time ago. Those jobs ain't coming back.
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Yes and no. We still have some of these jobs. Should we keep them or give tax breaks to corps to do more of it.

It's time for the US to get even more competitive than just relying on easy money and real estate investments in the past 10 years or so.
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A truism, but how? Should we stop tax breaks for corporations who offshore even high tech jobs such as software engineering because it can be done cheaper overseas?

I don't like calling it "hallowing out" like a dead tree. US doesn't lose jobs just to lift Indians or Chinese out of poverty. Either play the global game or get played in the global game.
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Well spoken from the corporate point of view. Any details?

This borrowing and spending frenzy has to stop and we have get on to the track to generate again
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Sounds like a good idea. So we have to replace the GOP who are even more into tax cuts leading to more borrowing which is backed by the corporations than the Dems? In your way of playing the game can we return to previous levels of taxation of corportions and welathy individuals or is all the balancing to come from cuts to health, education and welfare for average Americans as the corporate elite wants? If we cut education and health how can we "get even more competitive" as you urge.

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Quit self-pity or scapegoating.
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Quit blaming the victims is another generalization.

Well, leveling playing field certainly is part of the global game. The pressure for the developing world to intergrate upwardly in labor, safety, health, environment and so on standards has never stopped
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So the US should stop supporting dictators even if they are friendly to US corporations. I could go with that. Would you be for the American government to lend support to worker's rights movements in other countries even if opposed by "Aemrican" corporations who like their low wages?
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YallMean · Jan 24, 2011

glynch said:

Well spoken from the corporate point of view. Any details?
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I hear you. All things considered, the US still has the best education system, R&D facilities, most innovative workforce, and creativity runs abundant.
I was talking to two inventors the other day. They are working on some high tech material tag that can be used to fend off counterfeits. Stuff like that, tech concentrated, will not be outsourced to China or India.
Do we really want to compete with China on shoe making for 5 cents on the dollar? If that's what made America's middle class, that boat has sailed. I am sorry you don't have a solution for the US's global position either. DD tongue&cheekly says tariff and is that what you are proposing? Econ 101 says tariff creates dead weight loss by brewing inefficient players. Sure, this is a good way to improve the US' competitiveness???
What makes this country great is the "can-do" when facing competition and impossibility. The global economy is a challenge and an opportunity.
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Phillyrocket · Jan 24, 2011

While I agree with the OP, automation does not get enough er credit for eliminating blue collar manufacturing type jobs. We are to a degree a product of our own success. Faster and more efficient = less jobs on the assembly line.

Raven · Jan 24, 2011

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Every single word is true.

Classic · Jan 24, 2011

This topic reminds me of this article:

http://articles.moneycentral.msn.com/Investing/Extra/wall-street-run-amok-blame-harvard.aspx

The elitist have a very different perspective on business than most of us. Yet most people think these people are our brightest and best and keep re-electing these guys over and over expecting different results.

orbb · Jan 25, 2011

YallMean said:

glynch said:

I hear you. All things considered, the US still has the best education system, R&D facilities, most innovative workforce, and creativity runs abundant.
I was talking to two inventors the other day. They are working on some high tech material tag that can be used to fend off counterfeits. Stuff like that, tech concentrated, will not be outsourced to China or India.
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Yes, it will. Research labs can be setup anywhere. And as the percentage of the population that can afford to tinker away free time in a garage (Gates), or spend 10+ years in college without massive debt (Brin) shrinks, so will creativity. And there will be even less reason to keep those labs in the US.
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YallMean · Jan 25, 2011

orbb said:

YallMean said:

Yes, it will. Research labs can be setup anywhere. And as the percentage of the population that can afford to tinker away free time in a garage (Gates), or spend 10+ years in college without massive debt (Brin) shrinks, so will creativity. And there will be even less reason to keep those labs in the US.
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Labor cost aside, there is also concern about IP protection. If India and China let the IP protection factor into cost structure over there, that should level the playing field for US companies. Until then, IP is always a concern and will not be outsourced like other low added value stuff.

As the income of Chinese and Indians cross certain threshold, they will want better labor protection, health standards, so on b/c they will want to live truly like middle class. When that time comes, those things will be reflected into their cost structure and hopefully the US is at a great position to provide them what they want: Hollywood movies, world-class financial, telecom services and so on.
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