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News Link • Misinformation

Manufacturing Illusions

• by Robert Reich
 

Suddenly, manufacturing is back -- at least on the election trail. But don't be fooled. The real issue isn't how to get manufacturing back. It's how to get good jobs and good wages back. They aren't at all the same thing.

Republicans have become born-again champions of American manufacturing. This may have something to do with crucial primaries occurring next week in Michigan and the following week in Ohio, both of them former arsenals of American manufacturing.

Mitt Romney says he'll "work to bring manufacturing back" to America by being tough on China, which he describes as "stealing jobs" by keeping value of its currency artificially low and thereby making its exports cheaper.

Rick Santorum promises to "fight for American manufacturing" by eliminating corporate income taxes on manufacturers and allowing corporations to bring their foreign profits back to American tax free as long as they use the money to build new factories.

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