 sahara says: Perhaps the ultimate expression of capitalism results in the export of jobs to lowest-cost countries to enable what used to be “American companies”, now multinational corporations that have the sole goal of maximizing their corporate profits. The ultimate political expression has evolved to a sector of the world that is, in effect, ruled by multinational corporations. What is worse is that these multinationals fail to realize that ultimately they are undercutting their own profits and shrinking their own market by underminding their own profit center in formerly prosperous prime economies. The bonus from offshoring can only last so long and is highly subject to proper application and use within a given multinational corporation. Offshoring is not a cure-all for corporate profits, nor a real solution for long-term benefit to anyone. No government contracts should be given to multinational corporations, ever! The effect of job globalization is the suppression of wages in the United States. 57% of reemployed displaced workers earned less in new jobs than in the jobs that were lost from outsourcing. 34% of those displaced workers saw earnings reductions of more than 20%. Brookings Institute recommends that outsourced reemployed workers recover 47 cents of every dollar that they used to earn. It has all been made possible through the U.S. corporate taxation system set up by the federal government and administered through the IRS. In effect, no job is truly safe from offshoring. What will the Obama administration do to shield Americans from further corporate abuse? It is time for you to have your say... |
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