In just about any small town that has lost a big factory, you'll hear it was the union's fault. I live in Mayfield, Ky., population about 10,000. A big Continental General Tire plant was our factory. It’s been gone for a half-dozen years.

A new report from the U.S. Public Interest Research Group (PIRG) reveals that state governments lost $39.8 billion in revenues because corporations and wealthy individuals are using offshore tax havens to avoid paying their statutory tax rates. We've seen the devastating effects that offshoring jobs have had on America's workers, and offshoring has long been talked about in terms of lost federal revenue, where $150 billion a year goes unpaid, but little focus has been given to state losses from the practice.

When you hear anyone from the big multinationals or Wall Street using the word “reform,” watch out! The way they use the word, it means give them more and We, the People, get less. They want to “reform” Social Security, “reform” Medicare and “reform” the income tax code. And now they want to “reform” the taxes corporations pay on money made outside the United States. It’s like “reforming” an oak tree with an ax.

We've reported for several months now the "Fix the Debt" group is a Trojan horse. It cynically calls for cuts to Social Security, Medicare and Medicaid benefits (in the name of "deficit reduction") while advocating for lower taxes for corporations and businesses that ship jobs overseas. 

Mitt Romney’s bid for the presidency is built on the idea that his success in the leveraged buyout industry and the fabulous wealth he’s accumulated is evidence that he knows how to create jobs and foster economic growth. He argued in Tuesday night’s debate that we should just trust him when he says he can cut the deficit and cut taxes by 20% across the board because of his credentials as a leveraged buyout titan.

The problem with Romney’s argument is that the leveraged buyout business does not create jobs. The tax breaks that the industry relies on, like the discounted tax rate for capital gains and offshore tax shelters, add tens of billions of dollars each year to the deficit.

Today, The Nation is reporting on yet another example of how Romney and the shadowy private investment industry really makes its money—offshoring jobs, taxpayer subsidies and bailouts and cutting workers’ pensions.

This new video from the United Steelworkers (USW) exposes how Mitt Romney and Bain Capital are profiting by selling out America's workers and shipping U.S. jobs to China.

In 2010, the Bain Capital-controlled Sensata Technologies bought Honeywell’s automotive onboard sensor business, including a Freeport, Ill., plant, where 170 workers were making a middle-class living. Says Tom Gaulrapp:

They came in and introduced the transition team, and the next bullet in the meeting was, “By the way, by the end of 2012 all the jobs in this plant will be moved to China.” 

More than 13,000 workers represented by the Communications Workers of America (CWA) in 13 Western and Midwestern states are fighting for a fair contract at CenturyLink. Their contract was set to expire at midnight on Oct. 6, but workers stayed on the job under a temporary extension while they try to win a fair contract.

The workers—customer service agents, network technicians, Internet support workers and others—voted earlier by 88% to authorize a strike if a fair contract cannot be reached.

America’s workers are existing on the edge of financial disaster: 40 percent say they live paycheck to paycheck, according to a recent CareerBuilder survey. Worse, 37 percent say they sometimes need to rely on the next payday to make ends meet. Although the percentage of those literally living for payday has decreased from 42 percent in 2011 and from 46 percent in 2008, the height of the recession, this is not good news.

In addition, the survey found:

Mitt Romney likes to cite his experience as a businessman as qualifying him to be president.

A new website takes a close look at Romney’s participation in the corporate world—his many years as CEO of the hedge fund Bain Capital. The closer you look, the uglier it gets.

This is a cross-post by Sara Jerving of the Center for Media and Democracy’s PR Watch.

When Dave Schumacher, 51 years old, lost his job in 2009 in U.S. Rep. Paul Ryan’s hometown of Janesville, Wis., he wasn’t alone. Schumacher drove trucks for a supplier company that served the General Motors (GM) SUV plant, the economic heartbeat of this blue-collar town. GM consolidated production in Texas and Mexico.

When the four-million-square-foot GM plant in the southern part of town closed in 2009 after a series of layoffs, it took with it the jobs of some 2,800 employees, the single most significant economic blow inflicted upon any Wisconsin community since the economic collapse of 2008. But it wasn’t just GM workers who lost their jobs, the closure caused a ripple effect of business closings and layoffs in the area, leaving an ill-equipped safety net supporting the workers who remained in the community.