“What a president believes matters. Mitt Romney’s companies were pioneers in outsourcing U.S. jobs to low wage countries. He supports tax breaks for companies that shift jobs overseas. President Obama believes in insourcing. He fought to save the U.S auto industry and favors tax cuts for companies that bring jobs home. Outsourcing versus insourcing. It matters.”
via The Morning Plum: No letting up on Bain – The Plum Line – The Washington Post.
Mitt Romney’s financial company, Bain Capital, invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India.
Romney campaign officials repeatedly declined requests to comment on Bain’s record of investing in outsourcing firms during the Romney era.
During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission.
While economists debate whether the massive outsourcing of American jobs over the last generation was inevitable, Romney in recent months has lamented the toll it’s taken on the U.S. economy. He has repeatedly pledged he would protect American employment by getting tough on China.
via Romney’s Bain Capital invested in companies that moved jobs overseas – The Washington Post.