Report: American Corporations Are Adding More Jobs Overseas Than They Are At Home 27APR12 & GRAPH: Contrary To GOP Claims, U.S. Has Second Lowest Corporate Taxes In The Developed World 5JUL11

NO surprise here, nor is it a surprise that for all the political posturing nothing will be changed in the tax laws to reward corporations who increase employment in the U.S. and not overseas and increase taxes on corporations who send their jobs out of the country because of corporate ownership of Congress. Check this out from Think Progress....

By Travis Waldron on Apr 27, 2012

With the nation’s unemployment rate still above eight percent, millions of Americans are looking for work, and the country’s biggest corporations are hiring. According to a new report from the Wall Street Journal, however, many of those corporations are adding jobs overseas at a faster pace than they are at home. Even worse, others are cutting their domestic workforces while adding jobs in other countries at a rapid pace:

Those companies, which include Wal-Mart Stores Inc., WMT +2.70% International Paper Co., Honeywell International Inc. and United Parcel Service Inc., boosted their employment at home by 3.1%, or 113,000 jobs, between 2009 and 2011, the same rate of increase as the nation’s other employers. But they also added more than 333,000 jobs in their far-flung—and faster-growing— foreign operations.
The companies included in the analysis were the largest of those that disclose their U.S. and non-U.S. employment in annual securities filings. All of them have at least 50,000 employees. Collectively, they employed roughly 6.4 million workers world-wide last year, up 7.7% from two years earlier. Over the same period, the total number of U.S. jobs increased 3.1%, according to the Labor Department.

Many of the companies are adding jobs in the U.S. but adding even more overseas — reversing a trend from a decade ago in which they were outsourcing American jobs to other countries. But some companies, like Wal-Mart, have boosted overseas employment while maintaining flat job growth in the U.S., and others, like UPS, have slashed jobs at home even while adding them in other countries:

A similar Wall Street Journal report last April found that America’s largest multinational corporations outsourced more than 2.4 million jobs over the last decade, even as they cut their overall workforces by 2.9 million.
President Obama has proposed a tax credit to encourage businesses to bring jobs from overseas back to the United States in order to relieve high unemployment and boost economic growth. Republicans and corporations, meanwhile, have blamed outsourcing on high taxes, even though corporations pay less in America than they would in most of the developed world.
http://thinkprogress.org/economy/2012/04/27/472577/report-american-corporations-are-adding-more-jobs-overseas-than-they-are-at-home/

GRAPH: Contrary To GOP Claims, U.S. Has Second Lowest Corporate Taxes In The Developed World

By Marie Diamond on Jul 5, 2011 

During negotiations regarding raising the nation’s debt limit, congressional Republicans have defended tax loopholes for corporations, claiming that America has a high corporate tax rate that is stifling economic growth and job creation. But the Center for Tax Justice (CTJ) has crunched the most recent data from the Organization for Economic Cooperation and Development (OECD), the Office of Management and Budget, and the Census Bureau, and finds that “the U.S. is already one of the least taxed countries for corporations in the developed world.”
As a share of GDP, the U.S. had the second lowest tax rate, behind only Iceland. This statistic flips on its head the often-repeated Republican charge that America has the second highest corporate tax rate in the world (which is only true on paper). In 2009, U.S. corporate taxes had fallen to only 1.3 percent of GDP, from 4 percent in 1965.

Conservatives love to point out that other OECD countries have lowered their corporate tax rates in recent years, but they conveniently ignore that “these countries have also closed corporate tax loopholes while the U.S. has expanded them.” As CAP Director for Tax and Budget Policy Michael Linden has noted, the U.S. is actually a very low-tax country across the board.
Recently, conservative commentator Bill Kristol chastised his own party for pretending that lowering the corporate tax rate is a cure-all for America’s economic woes. On Fox News Sunday, he interrupted a panelist who again tried to assert the U.S. is suffering from a high corporate tax rate: “Republicans are making a mistake if they focus on big businesses and corporate tax rates. Corporations have a ton of cash. The corporate tax rate is not killing big business in America.”
The GOP presidential candidates have almost uniformly introduced proposals to radically lower the U.S. corporate tax rate. For instance, former Minnesota Gov. Tim Pawlenty (R-MN) wants to reduce the corporate tax rate to 15 percent and eliminate all taxes on capital gains, dividends, interest income and inheritance. CTJ put the issue succinctly in a tweet this morning: “Dear US Corporations: You pay 2nd LOWEST tax rate in industrial world, so quit whining or move to Iceland.”
http://thinkprogress.org/economy/2011/07/05/260535/graph-corporate-tax-second-lowest/