Trade Deficit
We have a $700 billion-a-year trade deficit. This is the amount that we import compared to the amount of goods we export.
Democratic Senator Byron Dorgan of North Dakota has written, "Take This Job and Ship It," which enlighten Americans as to how corporate greed and politicians are selling out our country.
By exporting American jobs, we are mortgaging our country's fortune, our principles, and our way of life. Dorgan insists that we're selling a part of our country every single day. By shipping American jobs overseas, corporations are shrinking the middle class, reducing salaries and stripping away health insurance and pensions.
Some of the corporations keep their main offices in the United States, because they want to receive American protection if a foreign interest were to try to expropriate their assets overseas. Increasingly, corporations are doing the reverse by renouncing their American citizenship so they don’t pay taxes, and are moving their official office to Bermuda or the Cayman Islands.
In the Cayman Islands a five story house is home to 12,748 corporations. They're not all there; that's just their address. They use that address to avoid paying U.S. taxes, but they ship jobs overseas, run their income through the Cayman Islands, and sell their product in America.
Corporation are allowed to fire American workers, close their manufacturing plant, move jobs to China, and congressional Republicans continue to give them a tax cut. Senator Dorgan has tried to abolish the practice four times in the Senate and can't get it done, because these corporations that benefit from these tax breaks have a lot of money to spread around to their friends in Congress.
Senator Byron Dorgan is not in favor of protectionism, in fact, he is calling for expanded markets for U.S. exports. He writes that, as this global economy moves forward, there has to be some rules. You have to have rules to protect the standard of living that we've created in the last century. Voters need to take a critical look at what this country is doing to itself. We're permitting our politicians and our business establishment, to do this to us.
Democratic Senator Byron Dorgan of North Dakota has written, "Take This Job and Ship It," which enlighten Americans as to how corporate greed and politicians are selling out our country.
By exporting American jobs, we are mortgaging our country's fortune, our principles, and our way of life. Dorgan insists that we're selling a part of our country every single day. By shipping American jobs overseas, corporations are shrinking the middle class, reducing salaries and stripping away health insurance and pensions.
Some of the corporations keep their main offices in the United States, because they want to receive American protection if a foreign interest were to try to expropriate their assets overseas. Increasingly, corporations are doing the reverse by renouncing their American citizenship so they don’t pay taxes, and are moving their official office to Bermuda or the Cayman Islands.
In the Cayman Islands a five story house is home to 12,748 corporations. They're not all there; that's just their address. They use that address to avoid paying U.S. taxes, but they ship jobs overseas, run their income through the Cayman Islands, and sell their product in America.
Corporation are allowed to fire American workers, close their manufacturing plant, move jobs to China, and congressional Republicans continue to give them a tax cut. Senator Dorgan has tried to abolish the practice four times in the Senate and can't get it done, because these corporations that benefit from these tax breaks have a lot of money to spread around to their friends in Congress.
Senator Byron Dorgan is not in favor of protectionism, in fact, he is calling for expanded markets for U.S. exports. He writes that, as this global economy moves forward, there has to be some rules. You have to have rules to protect the standard of living that we've created in the last century. Voters need to take a critical look at what this country is doing to itself. We're permitting our politicians and our business establishment, to do this to us.
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