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What are candidates' plans to keep jobs in the US?

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    Part 10 of the second presidential debate

  • Duration 8:05
  • Date

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Second presidential debate: Hofstra University

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How much I want to ask Carol Goldberg to stand up because she gets a question that both these men have been -- -- for governor Romney.

The outsourcing of American jobs overseas.

Has taken -- hole on our economy.

What plans do have to put back and keep jobs here in the United States.

-- great question an important question because you're apps you're right at the place for we've seen manufacturing go has been China.

China is now the largest manufacturer in the world used to be the United States of America.

Lot of good people lost jobs a half a million manufacturing jobs have been lost in the last four years that's total over the last four years.

One of the reasons for that is that people think it's more attractive in some cases to go offshore than to than to stay here.

We have made it less attractive for enterprises to stay here than to go off -- from time to time.

What I will do as president is make sure it's more attracted to come to America again.

This is the way we're going to create jobs in this country it's not -- trickle down government saying we're gonna take more money from people and hire more government workers.

Raise more taxes put a place more regulations.

Trickle down government has never worked here has never worked anywhere.

I -- make America the most attractive place in the world for -- but no worse.

For small business.

For big business to invest in grow in America.

Now we're gonna have to make sure that as we trade -- -- the -- that they played -- rules and China hasn't.

One of the reasons are one of the ways they don't play by the rules is artificially holding down the value their currency.

Because if they put their currency down -- that means their prices on their goods are low.

And that makes them advantageous in the marketplace we lose sales and manufacturers here in the US make in the same products can't compete.

China has been a currency moment manipulator for years and years and years.

And the president has a regular opportunity.

Two to label them as a as a currency manipulator but refuses to do so on day one viable label China a currency manipulator.

Which will allow me as president to be able to put in place if necessary terrorist or I believe.

That they are taking unfair advantage of our manufacturers.

So we're gonna make sure the people we trade with around the world play by the rules.

But let me let me -- not -- stop there don't forget what's key to bringing back jobs here is not just finding someone else to punish.

And and I'm gonna be strict with people we trade with to make sure they they follow the law and play by the rules.

But it's also to make America among the most attractive place in the world for businesses of all kinds that's why I want to bring on the tax rates.

-- small employers big employers.

So they want to be here Canada's tax -- companies is now 15%.

Ours is 35%.

So if you're starting a business where would you -- start -- We have to be competitive if we're going to create more jobs here regulations.

Have quadrupled the rate of regulations quadrupled under this president.

I talk to small businesses across the country they say we feel like were under attack from our own government.

I wanna make sure the -- -- their job it's encouraging small business not crushing it and there's no question but that Obama care.

Has been and extraordinary.

Deterrent to enterprises of all kinds hiring people my priority is making sure that we get more people hired if we have more people hired.

If we get -- back manufacturing jobs if we get back all kinds of jobs into this country.

Then you're gonna see rising incomes again the reason incomes are down this because unemployment is so high.

I know what it takes to get this to happen and my plan will do that and one part of it is to make sure that we keep China.

Playing by the rules.

Mr.

President -- two minutes here because we are then gonna go to our last question.

We need to create jobs here.

And both governor Romney and I agree actually that we should lower or corporate tax rate -- too high.

But there's a difference in terms of how we would do it.

I want to close.

Loopholes.

That allow companies to deduct expenses when they move to China.

That allow them to profit.

Off -- And not have to get taxed so they have tax advantages -- short.

All those changes in our tax code would make a difference now governor Romney actually wants to expand.

Those tax breaks.

One of his big -- -- when it comes to corporate tax reform would be to -- if you invest overseas.

You make profits overseas you don't expect US taxes.

But of course if you're a small business -- mom and pop business or big business starting up here you've got to pay even the reduced rate the governor -- -- talking about.

It is estimated that that will create 800000 new jobs.

From -- mobile and China.

Or India.

Or German.

That's not the way we're gonna create jobs here the -- we're going to create jobs here is not just change our tax code but also to double our exports.

And we are on pace to double our exports -- -- commitments I made when I was president that's creating.

Tens of thousands of jobs all across the country.

That's why we kept on pushing.

Trade deals but trade deals that make sure that American workers and American businesses are getting a good deal.

A governor Romney talked about China.

Clarity indicated.

In the private sector governor Romney's company invested in what were called pioneers up outsourcing that's not my phrase.

That's what reporters called.

And as far as currency manipulation the -- actually gone up 11% since I've been president because we have pushed them park.

And we put unprecedented.

Trade pressure on China that's why exports.

Have.

Significantly increased under my presidency that's -- helped create jobs here.

Mr.

President we have a really short time for a quick discussion here.

I had.

The -- the iphones they are all manufactured in China one of the major reasons is.

Labor is so much cheaper here how do you convince a great American company to bring that manufacturing back here.

The answer is very straightforward.

We can compete with anyone in the world as long as that playing field is level.

China's been cheating over the years one by holding down -- they their currency.

Number two by stealing our intellectual property or designs are patents are technology there's even an Apple Store in China.

That's a counterfeit Apple Store selling counterfeit goods to hack into our computers we will have to have people play -- a fair basis that's number one number two.

We have to make America the most attractive place for ought to open doors.

For people who want to expand a business that's a brings jobs in the president's characterization of my check out what America is complete it's completely is to get a false let me tell you.

-- go to the resident here because we really are running attack and the question is can we ever get we can't get wages like that it can't be sustained.

-- there's some jobs that are not gonna come back.

Because there were low wage low skill jobs.

I want high wage high skill jobs that's why we have to emphasize manufacturing.

That's why we have to invest in advanced manufacturing.

That's what we got to make -- we've got the best science and research in the world and what we talk about deficits.

If work adding to our deficit for tax cuts.

For folks who don't Needham and -- cutting investments in research and science that will create the next step.

Create the next.

New innovation that will sell products from a world we won't lose that race.

If -- not training engineers to make sure that they are -- here in this country.

Then companies won't come here those investments or what's gonna help to make sure that we continue to lead.

This world economy not just next year but ten years from now.

Fifty years from now -- -- Mr.

President got and I'm not writing jobs and government -- -- governing our jobs I wanna.

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