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FBN’s Gerri Willis on U.S. companies hiring overseas despite the jobs needed here in the U.S.
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Great well.
That new dreamliner is.
We're really a triumph for American labor not a disaster because 6000 workers are busy at Boeing South Carolina plant and don't forget.
The building of that state of the art facility provided jobs for 101000 construction workers.
But victories like this when are becoming more and more rare in this country our biggest companies are growing with the new jobs are creating they're not coming here.
The Wall Street Journal just published an analysis.
Of the 35 largest US based company is.
With available domestic and foreign employment numbers in the last two years 75% of new jobs that these US companies went.
Overseas.
And just last year Wal-Mart added a 100000 jobs outside this country.
But -- US headquarters has been flat for five years in fact seven of these top companies were able to expand abroad but cut jobs here at home.
This isn't just because it's cheaper to build stuff overseas not just because Chinese workers earn -- -- fifty on our on average.
Global companies want to be closer to their growing markets in America is just not growing fast enough to support higher employment.
The latest GDP down take his proof of our -- and barely go economy.
Boeing is no longer is no stranger that is to foreign labor it's outsource the manufacturing and engineering of critical components to.
Italy Sweden China South Korea Australia and even France.
Consider this the 787 has more foreign made components 30%.
Than any other Boeing plane.
Boeing is in fact the major beneficiary of our export import bank which offers cheap -- -- -- national buyers to get America products.
Guess who's the proud owner of today's new 787 dreamliner -- when he has -- Air India.
So we should be proud of the American workers who build a technological marvel.
But we shouldn't forget that when some companies -- big enough calling themselves American.
It's just marketing.
Congress could help the situation by low income lowering that is corporate tax rates to levels that are competitive with the rest of the world.
Currently we have the highest tax rate for companies.
Of any industrialized nation.
Why should we sit back and allow any company -- Japan -- Ireland as headquarters based on back.
We have to change corporate tax rates to be competitive globally.
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