Saturday, July 17, 2010

Stealing From American Taxpayers, Giving to Korean Conglomerates

Local reports on the news that "LG Chem received almost half of its investment - $150 million - from the U.S. government and is to receive tax benefits of $130 million from Michigan" — Obama launches Korean electric car battery plant and LG gets Obama’s blessing for US plant. "LG Chem and the U.S. Department of Energy have split the costs of building the $303 million plant on a 50:50 basis."

Is it wrong to question the patriotism of a government that pursued a policy of deindustrialization followed by a policy of paying hundreds of millions of dollars to invite in foreign industrialists to rebuild the decimated manufacturing base? Is it wrong to question the allegiance of policy-makers who effectively destroyed from within the most productive and innovative economy the world had ever seen?

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4 Comments:

Blogger Dunk said...

But American citizens elected them. Every population gets the government it deserves, I'm convinced.

2:28 PM  
Blogger The Western Confucian said...

Sadly, our corporate media propaganda machine and illiterate electorate make our elections about as free as North Korea's in the end.

5:21 PM  
Anonymous love the girls said...

Who is more desirable, an 'American' company that offshores its manufacturing. Or. A 'Foreign' company that manufactures here in this country?



Say what you want, but its some of the best spent money I've seen.

8:24 PM  
Blogger The Western Confucian said...

I agree, the latter's better, but are you telling me Americans, the people who invented just about everything used in the 20th C., are too dumb to make batteries?

The post questions the wisdom of a "policy of deindustrialization followed by a policy of paying hundreds of millions of dollars to invite in foreign industrialists to rebuild the decimated manufacturing base."

9:53 PM  

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