Given that reality, if U.S. companies and investors choose to invest money abroad or have operations overseas, are such companies and investors betraying American interests because they're not necessarily creating jobs for middle-class Americans?
If Apple Inc. makes its products overseas, and BMW and Honda make their products for American consumers in the U.S., does that make those foreign companies more economically patriotic than Apple?
Perhaps these and similar questions will be asked in the upcoming presidential debates or in interviews journalists have with the president, to understand the ways in which he may define economic patriotism.
This term makes me nauseated. Obama has now used it for his small book outlining his economic plan. Like social justice it's vague, but it appears to relate to US companies in the global economy and how patriotic they are, or should be, according to Obama and the statists who will judge these companies. Obama has already talked about using the tax code to punish companies that "send jobs overseas". This is a dangerous populist message intended primarily to please unions and to give the impression that Obama is a warrior for the middle class. Obama never tires of dividing the country into classes in ongoing class warfare. Obama has written off the rich, except for his corporate and Hollywood crony buddies whose riches are politically blessed -- plus, these rich people are willing and ready to do their fair share for the country -- reporting to duty, sir! Tax me! Tax me! I'm an economic patriot!
Obama is implying that companies with headquarters in the US are beholden to the U.S. government, and if these companies don't do what government decides is their "fair share", and if the companies don't create jobs in the US, then these companies are unpatriotic and deserve punishment. This is scary. Not only is it scary from a libertarian perspective, from a practical perspective, Obama is running industry out of the country, while pretending to bring it back to the U.S. This guy has to be defeated.