Protecting American Jobs Essay

Words: 1462
Pages: 6

Protecting American Jobs

For the past two decades Americans have been getting laid off because their jobs are being transferred offshore. “Advances in technology and low-cost telecommunications now mean that a computer programmer, data entry specialist, or help-desk operator answering calls for a U.S. company can work as easily from India or the Philippines as from Iowa--and save parent companies some 30 percent to 70 percent in costs” (Otterman, 2004). This poses the question should the government protect American jobs by imposing stiff penalties on companies that transfer jobs offshore by outsourcing or manufacturing. No, stiffer taxes are not going to significantly effect the number of jobs that are being transferred off shore
…show more content…
We should be focusing on how to get more multinational corporations into the United States instead of focusing on how to hold back our multinational corporations.

Along with lowering the average tax rate on multinational corporations the government should also fix the loopholes that exist. This way all multinational corporations will be taxed the same instead of some getting taxed the full 39 percent, while the others are using loopholes and hardly pay any taxes. Even in president Obama’s 2011 State of the Union address he called congress to simplify the system by getting rid of corporate loopholes so they can level the playing field and aid in the country’s competiveness and growth potential. To further support this, in an article from “many economists say that the corporate tax code is a mess and overdue for a clean-up. The code riddled with inefficiencies, creating perverse incentives for companies to invest overseas and waste money on elaborate tax-reduction strategies. Business supporters say a overhaul could eliminate the misguided incentives, lower tax rates, and attract more capital to the U.S. Some liberal critics also support reform, saying the current system is so tangled that it doesn't even do a good job of raising