“To top that off these same wealthy corporate owners closed about 40,000 US factories and sent them over seas between 2001 and 2008. They did use those cuts to create new jobs...for Chinese and Indian workers.”
There is no direct economic or financial correlation between the tax cuts under GWBush and the growth of overseas production or operations facilities for U.S. companies.
That growth has more to do with global trends that differ from one industry to the next, more than any specific tax cuts, and the level of that kind of change varies as well between the industries most involved.
One of the biggest global-wide trends that have been part of the reduction in manufacturing jobs, GLOBALLY, is the huge additions of computer technology and robotics to manufacturing. The impact of that change has been bigger in some places outside the U.S. than in the U.S. In spite of how much foreigners have set up manufacturing sites in China, “modernization” has resulted in a bigger drop in the number of workers and as a % of the workforce, in manufacturing, in China in the last 20 years than it has in the U.S. Why? They had a large amount of “catch up” to do and its actually still going on (huge useless, wasteful, old factories required to keep operating).
Lastly, foreign companies investing in the U.S. as well as the many building their own operations in the U.S. (just think automobiles for instance) have ADDED as many jobs here as U.S. jobs transferred or “outsourced” overseas.
Its a global marketplace.
I know. I grabbed a shopping cart the other day, and it was too big to push.
Yep. So why in the hell would anyone want to build a factory, or refurbish or maintain one in a country with increasingly crazy employment laws, moving-target environmental and workplace standards which change before the EIS can be prepared, the possibility someone will 'discover' some soon-to be protected bug, looming insurance mandates, the possibility a new development would put you out of business becaause the people who just moved in don't like the smell/noise/traffic/dust/color of the building, etfrickingcetera?
It is indeed a global marketplace, and part of that picture includes the business environment--one which government and special interest groups have made bloody hostile--especially compared to elsewhere.
Until you get the NIMBYs and nanny-staters to back off, there are people who will see the facility over the fence as a ticket to prosperity, even if they are elsewhere.