Courtesy of the Roanoke Times, here's Jim Webb on outsourcing, the loss of good middle-class American jobs, and George Felix Allen's disgraceful encouragement of these trends. Let's face it; Republicans like George Allen care far more for the rich and powerful than for the the vast majority of Americans. Certainly, George Allen doesn't care about poor people, that goes without saying. "Felix" also doesn't give a rat's you-know-what about the middle class, except insofar said middle class can provide Allen the votes he needs to get re-elected and keep on destroying their jobs.
Luckily, we've got Jim "Born Fighting" Webb to take on George Allen and his "corporations uber alles" agenda. Please help Jim Webb defeat George Allen, take back the U.S. Senate, and turn around the insane policies that reward companies for moving jobs out of America. Thanks!
P.S. Bolding added by me for emphasis.
Senate should eliminate outsourcing tax credit
America is in the midst of one of the most serious economic transitions since the industrial age. The dual forces of technology and globalization are shrinking the globe and taking their toll on middle- and working-class Americans.
America is increasingly divided into three parts, those at the top have never had it better, while the middle class is squeezed by the rising cost of health care, energy and college tuition. Those at the bottom risk becoming part of a permanent underclass, stuck forever in the cycle of poverty.
Even though many of the economic forces responsible for this transition are irreversible, the damaging policies maintained by our government, which accelerate these forces and hurt American workers, are not. Since 2000, more than 450,000 jobs have been sent overseas. Because of a perverse part of our tax code, moving manufacturing plants overseas is actually a profitable exercise for companies that wish to avoid paying corporate taxes.
This is not an abstract phenomenon; we are feeling the effects right here in Virginia. Earlier this year, Ford announced its intention to close its plant in Norfolk, a move that will mean 2,200 Virginians will lose their jobs. This decision by Ford was made in the context of a larger reorganization effort in which Ford has increased its purchases of parts for automobiles from auto parts suppliers operating overseas.
This process is being repeated in countless other industries. A recent study estimates that three million jobs will be lost to outsourcing by 2015. These lost jobs mean a loss of $176 billion in wages for American workers. And while workers suffer, corporations celebrate.
As a percentage of gross domestic product, corporate profits are at a record high and growing, while wages are at a record low and falling. These trends are no coincidence. Our economic system, which privileges stock value over all else, rewards CEOs with huge bonuses as they squeeze worker salaries to expand profits.
Many senators are doing their part to reverse these trends. The Senate has twice voted on measures that would eliminate provisions in the corporate tax code that encourage companies to keep profits overseas by exempting such profits from taxation. Two times Sen. George Allen voted against the elimination of these tax breaks for outsourcing.
Outsourcing is one of the most significant forces threatening jobs in America today. The first step in fighting this battle must be the elimination of measures in place today that encourage businesses to engage in outsourcing.
George Allen: Fighting for ExxonMobil, WalMart and other big corporations.
Jim Webb: Fighting for the rest of us.
Go Jim Webb!
P.S. At 2 PM today, Webb senior strategist and political legend Steve Jarding will be live blogging on Daily Kos to discuss the Webb vs. Allen Senate race. Check it out! :)
Lowell Feld is Netroots Coordinator for the Jim Webb for US Senate Campaign. The ideas expressed here belong to Lowell Feld alone, and do not necessarily represent those of Jim Webb, his advisors, staff, or supporters.