Raise U.S. Taxes in the Globalized Economy?
A large auto parts manufacturer is preparing to cut over 75% of its U.S. workforce and move almost all production to Mexico and China.
…(the CEO of Delphi, which manufactures and sells $20 billion dollars in auto parts , about half to GM) wants to use the bankruptcy courts to drastically slash Delphi’s U.S. presence, thus freeing it up to focus on its already vast overseas production. Miller filed for Chapter 11 protection only for his U.S. operations, which employ 32,000 UAW and other union workers. He was careful to exclude Delphi’s 115,000-worker foreign factories, many of which operate in low-wage countries such as Mexico and China.
Many defenders of globalization suggest that we need to ‘innovate’ our way to higher incomes through better education and training. That’s a fine idea, but is America ready to make the investment in its own children? If we need to spend the money needed to develop the skills of Americans, can we do that in a political culture that rejects new taxes and funds a major war with debt?
Are you familiar with how the public schools in your area are funded?