Currently, the U.S. levies no tax on U.S. firms’ overseas earnings as long as those profits remain overseas. That policy essentially encourages companies to reinvest their profits outside the U.S. And to give companies even more incentive to hire overseas, the Internal Revenue Service allows companies that move factories abroad to deduct from their taxable income the cost of closing their U.S. plants.
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any job not going to india which contributes nothing but cost reduction is a win in my book
keep in mind that almost every single country in the world but the united states has laws ensuring locals are a first priority for jobs which are strictly enforced with violations carrying real penalties
meanwhile in the US jobs will literally say visa applicants only so they can farm H1Bs and outsourcing doesn’t even have an inhibitions.
it’s actually far more likely that people will tell you the US is “winning” because our corporations do every single thing for bottom dollar over long term health of theirselves and all else. whatever pumps the dividends for one more quarter i guess, anything else doesn’t matter. but no complaining when people don’t have kids they can’t afford, can’t have it both ways.
@ap Without globalization, we’d have Bretton-Woods: strong unions, living wages, advancement of civil rights, and regulated capital.
Sign me up.
@OP Now you know why your bosses throw huge amounts of money at republicans.
I get what you’re saying but EM also uses natural resources of Guyana, Saudi, UAE, Kazakhstan, etc. Should we ship more jobs there too?
corporations got rid of pensions to make 401ks
401ks were never intended to be retirement vessels and nobody had retired with one yet.
401ks were a trick to achieve precisely what you say here - to align yourself to the incentives of your masters
@ap that's why we live in a throw away culture. Nothing is built to last and we replace rather than fix. It all washes out in the end.
The fact that a company, in this case EM, uses local natural resources in the US and Canada to profit then they're free to ship the jobs, which are the main source of income for the people in our part of the world, overseas. That should be reigned in with laws. You're going to use our natural resources to profit, you must keep the support jobs in country. We have the skills. Don't let globalization take over what people have long studied and worked hard for in our part of the world. It's just wrong.
Definitely not written by someone in the tax group….the information is unequivocally incorrect.
@a3 US benefits the most from globalization. Without it, you will pay 3* at Walmart and earnings from big corporations will be half (a.k.a. Your 401k will be half).
New leadership has turned us into an investment firm. No more raises, benefits keep getting degraded, and Kathy can't wait to get rid of the pension. You are just a number and the pain will get worse until more key people leave which they will just replace with experienced hires.... the ExxonMobil career promise no longer exists except in the minds of those 50 and over.
Globalization is a problem.