Fast Fact

Armand Biroonak's picture

Manufacturing Jobs Decline 17% Past Seven Years

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

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Alexander Sewell's picture

Unfair Taxes, Benefit Wealthy, Hurt Middle Class

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

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Armand Biroonak's picture

2000-2008 Job Growth Slowest Since the Depression

Job_Growth_2_4.jpg

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Alexander Sewell's picture

Capital Gains Reduction

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

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Alexander Sewell's picture

Middle Class Pays More in Taxes

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.

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[CBPP]
Armand Biroonak's picture

Trade Deficit of Manufactured Goods Increased Dramatically

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

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American Workers Among the Most Productive Globally

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

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Armand Biroonak's picture

Companies Avoid U.S. Pay Standards, Outsourcing Jobs

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.

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Important Segment of Economy Still Manufacturing

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

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Armand Biroonak's picture

Manufacturing is Major Contributor to Economy and Growth

The manufacturing sector is responsible for more than 12 percent of America’s gross domestic product and pays for approximately 60 percent of the research and development work that has made America a technological leader.

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