Executive Council Statement
Leveraged Buyouts, Outsourcing and Tax Subsidies: A Cocktail We Cannot Afford
… and to our communities? This summer, all across America, working people have stood up against the forces driving the outsourcing of our jobs and the hollowing out of our economy. From Maine to San Diego, we have demanded that our elected … for an end to China’s currency manipulation, and for an end to corporate-dominated trade deals. But incentives for outsourcing in our tax code and in our trade agreements are just part of an overall way of doing business that for 30 years … Group, which they sold last year to a Russian investor for $1.3 billion.( 2 ) The next step in many leveraged buyouts is outsourcing—closing plants and selling assets, using the returns to pay back the loans, and then contracting production out …