Saturday, August 13, 2011

A Cautionary Tale

Years ago, the US was a great manufacturer of quality hardware, (Watch American Restoration as entertaining proof), something not only sad but potentially disastrous as seen by an in-depth The Nation article titled, How America Could Collapse

Click the image to link to American Restoration,  The process the crew goes through to restore "stuff" is fascinating to say the least.

Addendum: The Government is giving money to GE to move multiple factories to China because, according to GE, "the markets are there"

Oh, I forgot, they paid no taxes either.

"For those unaccustomed to the loopholes and shelters of the corporate tax code, GE's success at avoiding taxes is nothing short of extraordinary. The company, led by Immelt, earned $14.2 billion in profits in 2010, but it paid not a penny in taxes because the bulk of those profits, some $9 billion, were offshore. In fact, GE got a $3.2 billion tax benefit."

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