The new buzzword is "Outsourcing". That is where American companies send American jobs to other countries where they pay
non-Americans to do the jobs that Americans used to do because they do not have to pay American wages and American benefits.
In turn the company will then sell their products back to the unemployed Americans who will buy the product with their unemployment checks supported by the taxes they can no longer pay because they are unemployed and the taxes that are no longer being paid by the corporation that has moved its headquarters to Bermuda to avoid paying taxes.
Sounds like "bush league economics" to me.
Posted by donburnshomepage
at 8:12 AM EST