Although no one should discount the hardship and uncertainty faced by an individual who has lost his or her job, nothing is that black and white. The popular misconception is that outsourcing always means job loss and a windfall profit for the company doing the outsourcing. A more accurate perspective is that for companies, it is often a matter of staying afloat or struggling to grow, not getting windfalls, and with regard to jobs ? when economies are not stifled by protectionism ? job losses and gains tend to balance out. Please see more at my blog post at Law Without Borders.
Furthermore, those American companies with manufacturing and service set-ups abroad haven't made these arrangements to take advantage of the tax deferral. They have done it because of lower operational costs, or because of the proximity to target markets, or for other reasons that may have nothing to do with tax breaks or outsourcing of jobs. Changing the tax code to remove the deferral will only create a barrier that will reduce the ability of U.S. companies to compete in today's global marketplace. If the U.S. government offers incentives and tax credits to companies that create more jobs for the American workforce, that might help a bit.
Vidya Devaiah
SDD Global Solutions
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