There are pitfalls to this strategy..... but yes.....and I am not an expert .......but at this point how do you bring them back??? If higher tax rates drives them to seek countries offering a lower tax rate, then would it not be logical that lower rates here would entice them to come back? I find it very ironic that our current POTUS has in his cabinet the CEO of GE as his business development 'CZAR' ........(i hate the term CZAR) GE paid virtually no taxes in the US.......due to the fact that they moved corp offices to overseas tax friendly countries..........follow the $$$$$$$......
@rohscomplaint Corporate taxes are one reason why businesses set themselves up abroad. But I do know that states like New York offer massive tax cuts as an incentive to businesses to stay (where their presence provides jobs and markets for other local businesses) and not flee in search of cutting costs. Are you suggesting that can work on the national level?
That discussion would need to begin with addressing the matter of the corporate tax rate in the USA..............say dropping it to levels more in line with that of Singapore. And changing tax code for small business (S Corps.) .....we are being killed to the tune of 35% to 37% in fed tax rate. Nothing will happen until that happens. .....bring corporations back, brings back plants & offices, brings back jobs, brings back the tax base & grows the tax base.
If the government creates an incentive for businesses to bring manufacturing back to the U.S., and consumers support local manufacturing it could work for everyone.
Its objective could be defined by an open discussion answering to the question "Why it's important for the U.S. to develop a national manufacturing strategy? It could be done by a panel discussion, and an open source kind of thing where everyone interested could participate and have a saying.
As for the last question, well, one of the main points why a national manufacturing strategy should be important for a nation is the possibility to creating new jobs to help decresing the current level of unemployment.
rohscompliant, The book answers a question that wasn't posted here and that is this: Do some other countries, especially China, have an industrial/manufacturing strategy? The answer is: yes. So, why are the US, Great Britain and other Western nations different?
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.