Shipping American Jobs Overseas

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Shipping American Jobs Overseas

Did you know that “the nation has lost more than 2.5 million manufacturing jobs and more than 850,000 professional service and information sector jobs, due to overseas shipping since 2001? (Aflcio)” It is clear to me that some big business companies don’t value the protection of employees very highly. By some big business, ill single one out and state that Goldman Sachs has shipped approximately 500,000 American jobs overseas in the past few years. That’s about half of the total net job loss during these past years (Aflcio). This shows that companies are reluctant to stay in American and scared of the current economic situation. It upsets me to see American jobs being shipped overseas at such a rough time in the economy, a time when we need them the most. I believe that we can fix this problem by taking away the benefits of moving companies overseas like tax breaks and government money.

Jobs from America are being shipped overseas; this hurts our economy because we are taking away jobs that rightfully belong to Americans and giving them to the lowest bidder, who will not buy goods in America. One possible cause of the problem is the law that allows tax breaks to be given to companies that do ship their businesses overseas. “Current law allows

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companies to defer paying taxes on their overseas income indefinitely while deducting many of the expenses associated with moving offshore – this provides a double subsidy to U.S. companies that ship work overseas (Aflcio).” Studies have shown that $7 to $12 billion dollars of tax revenue could be spared, and used for projects that would benefit the growth of U.S. economy on home soil (Aflcio). I believe that tax breaks should not be going to th...

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...t particular company backs up the congressmen. Today, state and federal policies tolerate and compensate the obliteration of U.S. jobs. These policies distribute financial breaks and government bonds, while still giving entrance to the U.S. market to companies that destroy American jobs and abuse employee’s rights by shipping their labor elsewhere. Government must reform policies that encourage and reward job creation and implement policies of research that will create new jobs for the future.

Works Cited

"Corporate Myths about Shipping Jobs Overseas ." AFL-CIO America's Union

Movement. American Federation of Labor - Congress of Industrial

Organizations , 2010. Web. 17 May 2010.

"Exporting America." AFL-CIO America's Union Movement. American Federation of

Labor - Congress of Industrial Organizations , 2010. Web. 17 May 2010.

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