This post has been contributed by DJ and is a response to our recently published article Middle Class Becoming the New Poor as Job Losses Mount.
Iâ€™ll start by sayingâ€¦our US media, our fifth estate, is a failure. Theyâ€™ve earned the comment: â€œtheyâ€™re part of the problemâ€¦not the solutionâ€. When ratings and advertisers matter more than digging and reporting facts, should anyone be surprised how lame theyâ€™ve become?
Today’s media has become tainted and their jobs are more based on themselves and the opinions of on-air personalities. We donâ€™t get facts, good research, and effective news. We used to rely on newspapers and broadcast media to help us understand matters that are and will affect us, but this no longer occurs. But [we,] the citizens of this country, are part of the bigger problem. We, a majority, prefer entertainment over insight, so this is what weâ€™re fed. We also have little understanding of how government works, so we remain confused or uninterested. The news media has responded in turn by offering-upÂ dysfunctionalÂ Hollywood matters as being worthy news. Ratings provide the proof they need to keep us dumbed-down. It sad, itâ€™s happening, and itâ€™s happening for a reason. Itâ€™s also a sign of why weâ€™re losing our liberties and the right to choose. The American public is being placatedâ€¦because we continue to accept it.
This comment concerns a matter which has hit every family. Our media has failed to report this tidbit. It concerns â€œwhyâ€ jobs have disappeared from this country and the reason for itâ€¦is hardly complicated. It concerns certain laws which are never discussed, never reported.
Given that the media is owned and operated by entities with vested interests including paying advertisers, itâ€™s not that hard to understand why the news is tainted. The following is never identified by our politicians, for obvious reasons. But the media chooses to steer clear of this topic as well. Follow the money!
There exists laws in this country that are the â€œtaprootâ€ as to why jobs have left Â the US. Congress, both houses, both parties, passed these laws. NAFTA was just the tip of the bigger berg! These laws, for lack of better expression, represent a â€œhole in the bucketâ€ by which US production of consumer goods [and jobs] have been moved â€œoffshoreâ€. Â â€Offshoreâ€ is not literal in itâ€™s meaning, since Mexico is considered â€œoffshoreâ€.
The media chooses to not report this tidbit. Whatâ€™s more, our politicians focus on putting more â€œin the bucketâ€. Job training, re-educating workers, etc. This means spending more money we donâ€™t have, but worse, it ignores the bottom of the bucket, where the hole is.
Under our laws, there exists a â€œprovisoâ€, which is not permitted to any other country but our own. This is a 90/10 provision. This law permits any US company to move 90% of itself offshore, provided that the move is not placed within any country or state that is a threat to the US or US interests. Homeland Security requires this restriction. This law then has one more requirement. 10% of the company must remain within a US territory. Consider this formula? Consider then how this law has held the door wide open for jobs to leave the US. This was made â€œlegalâ€ and US companies were behind lobbying this act. While considering this non-reported proviso, consider one more thing. Under this law, why would good, high-paying, production jobs root here again [when] our laws permits companies to move jobs where they choose, when they choose, and if they chooseâ€¦even after retraining. Itâ€™s a lose-lose, thanks to the law granted to US corporations. This law then, is â€œthe hole in the bucket!â€
China, has benefitted from this decision, this law. They applaud it. Their middle class is building, while ours is dying. China is also building a new Navy, thanks to the short-sighted, quarterly thinking, and our stupidity. This is treasonous. The massive default of our consumer product production and lost jobs wasnâ€™t caused by Martian death rays! The culprit is this 90/10 law. It is legal to behave as a foreign company, yet enjoy all the may benefits that US citizenship offers. What a deal?
Any company that has moved 90% of itself offshore is â€œforeignâ€ and deserves to be taxed and tariffed accordingly for what it truly is. 10% hardly construes as vested in the US. Â Justifiably, no other country adheres to this off-balanced formula because the impact on their economy would sink them. They know this, but then they donâ€™t have our congress. The economy of any country is based on what it produces. This is fact. Creating investments (called â€œpaperâ€) and providing services is not conducive to â€œproduction of anythingâ€. This 90/10 benefits just Wall Street, not the country. The US ceased producingâ€¦why? The law allows it.
Who listens to Wall Street? Follow the money. Notice which doors the lobbyists are knocking on. If this wasnâ€™t enough, thereâ€™s more. The IRS is encouraging US companies to move risk-based â€œdepartmentsâ€ offshore. Since Research & Development (R&D) is 100% deductible, itâ€™s urged that such groups be based elsewhere, offshore. This means more job loss, as well as losing creative thinking. But unlike sales or marketing, R&D is risk. R-I-S-K is a four letter word for Wall Street, so they will hardly resist this IRS encouragement. The point here is that what is occurring is doing-so from within. Our governmentâ€™s charter is based on protecting the citizenship, not selling it.
The 90/10 matter is huge. Try giving your marriage 10%. You wonâ€™t have a marriage. You wonâ€™t even have a relationship. If youâ€™re fortunate to have one, give your employer just 10%. Youâ€™ll be unemployed. So why did congress permit this 90/10 law? It was obvious that granting this law would permit companies to drain our economy when it moved jobs from the US. So what were they smoking?
Any corporation or company that has placed upwards of Â 90% of itâ€™s work force offshore is not behaving as a citizen-company of the US. Paying corporate taxes is not an end-all to gain citizenship when it gives nothing back. Appreciating and enjoying all the benefits that this country offers (education, protection, etc.) should never be made available for any entity that is sucking the economy out from under us.
The president has roped this one, so he has to ride it! Â But the president does not make or write our laws, regardless of Â any urging. Congress writes and passes our laws, including both houses, including both parties. But both parties play good cop bad cop, then do as they choose. Congress listens to lobbyists, listens to Wall Street, congress is the source of why jobs have vacated this country. 90/10!
Imagine if this formula were made 50/50? An effective new mandatory requirement that hits home! If youâ€™re 90% in Chinaâ€¦youâ€™re a Chinese company!!!! Imagine the revenue that would be gleaned from taxes and tariffs on those that choose to remain 90%ers? Â Imagine how jobs would come back to the US from these â€œforeign companies?â€ But who will congress listen toâ€¦you the voter, or Wall Street. Who has the money?
Itâ€™s a mid-term election year. We have whatâ€™s necessary to vote out ALL INCUMBENTS, those who were directly an indirectly involved with satisfying Wall Streets needs over the needs of this country. VOTE THEM OUTâ€¦orâ€¦learn to enjoy the way things are going.
Will the last one outâ€¦turn out that [Chinese] light bulb?