GM to open factory in China

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    Senior Member Array Sig35seven's Avatar
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    GM to open factory in China

    Is this how GM pays back America for the bail out? They're opening a new Factory in China!

    It's not just GM. Many big corporations moved their facilities over seas and is killing us. Wealthy investors also gaining tax free accounts over seas have moved huge amounts of money out of the country.

    After they make huge profits and acquire massive amounts of money they then take it away from the country that gave them the opportunity. The 'new world capitalist' doesn't care about the goose that laid the golden egg. They go where ever the money is and have no loyalty.


    GM to build third factory complex in China - SFGate
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    VIP Member Array high pockets's Avatar
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    I think it will really hit the fan if they try to import any of those vehicles into the U.S., or Canada.
    "If you make something idiot proof, someone will make a better idiot."

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    Unfortunately, High Pockets, I doubt it will. Just like Wal-Fart thrives here with all of the Chinese made things (as many other stores and countries as well). People, the "little" people, are more concerned with prices in their day to day than the global or even national impact. Not everyone is willing to pay a little more for American.
    BigJon


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    We'll just even the score by building Toyota, BMW and various other "foreign" car factories here in the US.
    msgt/ret and Good Old Joe like this.
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    Quote Originally Posted by Sig35seven View Post
    Wealthy investors also gaining tax free accounts over seas have moved huge amounts of money out of the country.

    After they make huge profits and acquire massive amounts of money they then take it away from the country that gave them the opportunity. The 'new world capitalist' doesn't care about the goose that laid the golden egg. They go where ever the money is and have no loyalty.
    GM to build third factory complex in China - SFGate
    That's because of the screw the rich taxation ides being thrown around on the hill. If you made a bunch of dough being an innovator/entrepreneur or with just plain hard work would you want to give half of it away to a bunch of lazy folks wanting a free hand out? I know I wouldn't. I'd be living out my American dream some place that didn't want to screw me.

    Let's remember something, most of these people created their wealth by earning it. They don't owe you or me a dime and they damn sure don't deserve to be punished for their success.

    For every person that gets something they didn't earn there is someone who earned something they didn't get.

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    Senior Member Array Chevy-SS's Avatar
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    Quote Originally Posted by Sig35seven View Post
    Is this how GM pays back America for the bail out? They're opening a new Factory in China!

    It's not just GM. Many big corporations moved their facilities over seas and is killing us....

    Can't blame companies for going where it makes the most business sense (i.e., cheaper operating & manufacturing costs). Last time I checked, I thought this type of freedom was a bulwark of the ideals of Capitalism.
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    It's a global economy and a global marketplace, if you want to help the citizens of the United States shop locally owned stores, pay more for American made products or fair trade products (to eliminate sweatshops).

    Don't complain about things made in China and then by Chinese products. Money talks, and if we started only buying products made locally there would be more locally made products.
    “You can sway a thousand men by appealing to their prejudices quicker than you can convince one man by logic.”

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    VIP Member Array oakchas's Avatar
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    Quote Originally Posted by pgrass101 View Post
    It's a global economy and a global marketplace, if you want to help the citizens of the United States shop locally owned stores, pay more for American made products or fair trade products (to eliminate sweatshops).

    Don't complain about things made in China and then by Chinese products. Money talks, and if we started only buying products made locally there would be more locally made products.
    Except that we sold most of the tooling to the Chinese and others.... now we'd have to rebuild the manufacturing capability.

    In many ways I'm for complete isolationism... but we haven't the will for it.
    RichB70 likes this.
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    Distinguished Member Array Ghettokracker71's Avatar
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    Quote Originally Posted by OldVet View Post
    We'll just even the score by building Toyota, BMW and various other "foreign" car factories here in the US.
    Yep. As a friend says, "depends on if you want your purchase to support the American blue collar guys putting together the foreign cars on our soil, or if you want to support the white collar folks overseeing American cars being made in Canada and Mexico."


    If they are marketing the Chinese made cars to China, whats the big deal? Maybe they can repay their bail-out money back to the US government quicker with increased profits from having a larger global market. (I'm not holding my breath on that one. But kudos to Chrysler/Fiat for paying back ahead of schedule!)

    IMHO-Blame UAW for a large part of the shifts of American cars being made in other countries.


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    GM to open factory in China

    Your Tax Dollars Hard At Work For You.
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    Quote Originally Posted by oakchas View Post
    Except that we sold most of the tooling to the Chinese and others.... now we'd have to rebuild the manufacturing capability.
    Or the Chinese flat out stole it from us. The have no qualms about piracy, copyright infringement or stealing technology. They lie, cheat and steal while pretending to be our "friends". We're absolutely crazy to be dealing with the Chinese and some day it will come back to bite us in a big way.

    I admit though, it's very hard to buy things nowdays that aren't made in China. I try to buy American whenever I can...which isn't often. I did buy my son a pair of Woolrich wool outdoor socks the other day and was shocked to see the "Made in America" label.
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    Let's fix some common misconception:

    Generally, individual US taxpayers pay US tax on their worldwide income every year just like anyone else. There are some exceptions, but that is a general rule. So if Sixto makes $1,000 in China he pays the same US tax on that $1,000 as he pays on $1,000 earned in the USA. I have several "expatriate" taxpayer clients and they all follow this regime. There are a few twists and turns here, such as foreign tax credits and the foreign earned income exclusion, but the general rule is simple. Also note they, for the most part, also pay foreign taxes on said earnings.

    Corporations, say GM, are a wee bit different. The general rule is that their Foreign Source Income is subject to US tax when it is repatriated (brought home to the US). In the meantime however, they still may owe foreign tax on the income, but if they reinvest their earnings outside the US there is no US tax on those earnings.

    So..........the "painting" of "wealthy evil taxpayers expatriating $$ to cheat the IRS" is generally totally incorrect and generally factually wrong, but it is expedient for political purposes.

    I think GM wants a market position in China, and thus is opening Chinese factories to make cars to sell to the Chinese. I would also guess those cars would never qualify for import to the USA for numerous reasons. I would also guess those cars could not be manufactured in the USA and then shipped to China and maintain their competitive position on Chinese showroom floors. Just economics.

    I do agree the Chinese has stolen many industrial secrets from the US, US Companies, and others on a worldwide basis. I also agree they may compete unfairly.
    gasmitty likes this.

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    Saw a car program that showed china made BMW,merc,jag,ect all with diff names and Chinese gov threw out car makers case.Said no evidence of any infringement.Cars were identical looking except for badging and of course performance.Its not a global economy or free trade if only one side is playing by the rules.Has gm really made anything worth driving in the last 20 years anyway?On a side note,not everyone wants to tax the rich so to speak.But when an avg joe pays 35% of income in taxes and John q Richman pays less than 10 I can understand the irritation.

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    Distinguished Member Array ErnieNWillis's Avatar
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    Your average Chinese wage worker cant afford a car.

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    Your average Chinese wage worker cant afford a car.
    Then I guess GM is foolish for building a factory there.
    Drgnfly likes this.

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