Fast Fact

Manufacturing Jobs Decline 17% Past Seven Years

Armand Biroonak — Mon, 06 Oct 2008 21:00:00 -0700

Between 2001 and 2007, more 3 million manufacturing workers lost their jobs—a 17 percent decline.

Unfair Taxes, Benefit Wealthy, Hurt Middle Class

Alexander Sewell — Tue, 14 Oct 2008 21:00:00 -0700

Today, the top federal income-tax rate for ordinary income is 35 percent, meaning that earned income is taxed at a rate 2 1/3 higher than income from capital gains

2000-2008 Job Growth Slowest Since the Depression

Armand Biroonak — Mon, 27 Oct 2008 09:38:15 -0700

Capital Gains Reduction

Alexander Sewell — Thu, 16 Oct 2008 21:00:00 -0700

Congress already reduced the capital-gains tax rate from 20 to 15 percent in 2003

Middle Class Pays More in Taxes

Alexander Sewell — Tue, 14 Oct 2008 21:00:00 -0700

U.S. taxpayers with the very highest incomes pay income taxes worth only 18 percent of their income on average, compared to 25 percent for the typical American.

Manufacturing Jobs Fall Under Bush

Armand Biroonak — Mon, 06 Oct 2008 21:00:00 -0700

Manufacturing employment fell for the first time after Bush took office--below 16.5 million-- the first time for the period between 1965-2000.

Trade Deficit of Manufactured Goods Increased Dramatically

Armand Biroonak — Mon, 06 Oct 2008 21:00:00 -0700

Between 2001 and 2007, the trade deficit in manufactured goods increased by 42 percent, bringing it to over $165 billion.

American Workers Among the Most Productive Globally

Armand Biroonak — Mon, 06 Oct 2008 21:00:00 -0700

American manufacturing workers are the world’s second-highest rate of output per hour.

Companies Avoid U.S. Pay Standards, Outsourcing Jobs

Armand Biroonak — Mon, 06 Oct 2008 21:00:00 -0700

For every dollar an American manufacturing worker is paid, a worker in Mexico is paid 12 cents and one in Hong Kong makes just 24 cents.

Important Segment of Economy Still Manufacturing

Armand Biroonak — Mon, 06 Oct 2008 21:00:00 -0700

Nearly 10 percent of America’s workers are employed in the manufacturing sector; of those, nine percent are scientists and engineers.