theprof00 said:
Kasz216 said:
badgenome said:
Since no one has managed to explain how Romney changed the meaning of Obama's statement by taking it out of context, let's look at Obama's explanation.
"You think you're so smart, you think you worked so hard, there are roadzzzzz and teacherzzzz, you didn't build that!" = "Small businesses rule, let's support them (by raising taxes on them)!"?
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Yeah I couldn't help but think about how much it plays up to the validity of this article.
http://online.wsj.com/article/SB10000872396390443931404577549223178294822.html?mod=e2tw
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I liked the article, but in modern global capitalism, what prevents our companies from becoming multinationals?
1) The way I see it, the free market and capitalism are the greatest force on Earth, but it isn't a loyal force except to the capitalists and traders. What do we make of it then, when capitalists are the power? What are the solutions to this? As I see it, the manufacturing done overseas is to save costs on labor, so how do we as a country eschew that advantage and bring jobs back without regulation and governement?
2) I really don't see a solution there. Yes capitalism is great, but it rewards the capitalists, not the country the capitalists live in. Further, now capitalists (like Romney) are hiding their money in offshore accounts, and not circulating it in the economy. Circulation is the key to a strong economy. It feels like capitalists really are the problem.
3) As far as my feelings on it, look at Ralph Lauren, making our national uniforms in China. Now China is leading with gold medals. I know it sounds silly, but what the fuck are we doing as a country? We're giving them everything, sorry, the capitalists are giving them everything. The only solution here seems to be "become China", and that scares me.
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1) It doesn't. Regulations don't bring back jobs either honestly. What you do is create new jobs. The real issue is when companies move out, not when their manufacturing does.
2) See your not asking yourself a question here "Why do countries want money in offshore banks... and why do people put their money in them?"
For countries, it's easy. That money goes into their banks, they often collect a fee, and even if they don't there money circulates in the foreign economy.
I mean... remember. You have to pay taxes on this money EVENTUALLY. It's not like the US has a wealth tax.
For the person putting it in... often times there are perfectly legitamite reasons to have money in offshore bank accounts.
For example Mitt Romney, he put his money in a blind trust when he started running for office to avoid conflicts of interest right? Well Mitt Romney's financial advisor likely couldn't make the same invsetments he made for Mitt back when it wasn't a trust... unless that money is overseas, because trust law generally says the overseer can only invest in conservative stocks and bonds.
This is done to protect trustees. However some, like Mitt might trust his financial advisor with a bit more risk and want to set the risk limits higher. He can't however... unless he moves some money to a trust overseas. Or hell, honestly, the guy running his trust might of even did it himself.
Considering how a blind trust works. Mitt Romney might not even have known he had money overseas.
Another reason is foreign investment. The US doesn't allow us to invest in a LOT of places. Like say you wanted to invest in Cuba. You'd have to drive to Canada and open up an "Offshore" account there. Though if your going that far, why not go with the bank that will give you the most benefits?
A third is just well... saftey
http://www.dailyfinance.com/2012/04/11/mitt-romney-swiss-bank-accounts/
3) China is leading in gold medals because China doesn't care about forcing atheltes to take life shortening drugs... so...
Really it's no different then say... the Major League Baseball. Steroids and HGH are illegal but a LOT of players use them anyway and gain a big advantage. (though often these substances aren't life shortening too.)
Also. It's actually China's economy is not doing so hot lately. A lot of It's economic drive seemed largely based on government spending, shady accounting and there attempts to artificially hold down their money. (which can't last forever.)
It's funny really. Though supposidly "communists", their current economic system is probably the closest to Hitler's third way facist economics then anything that's ever existed... including Hitler's economy.