3.26.2004
Let's Invest in "Insourcing"
Being an IT professional, I am quite alarmed at the growing trend in Outsourcing. The President is obviously being paid to do nothing on the issue, if for no other reason; this is sufficient in my opinion to show him the door.
I propose that the government, through the use of taxation, make outsourcing hurt American companies until they see the light. For every 10% of their workforce that is outsourced, they will be assessed a 10% tax liability against their net profits. The money will go directly to job retraining programs, a relocation fund, and unemployment benefits. The government is essentially saying: “You’re outsourcing? Great! You’re going to help pay for the Americans you’ll displace.”
Of course if we’re going to sock them for outsourcing, we should be encouraging them to insource. For every 10% of their workforce that they shift back to the U.S. in that tax year, we’ll give them a 5% accross-the-board tax credit.
If a company or corporation moves its operations out of the United States, they’re going to be assessed a 25% tax liability on that year’s net profits. Once again, the monies collected will be earmarked specifically for job retraining, relocation expenses, and unemployment for displaced American workers. For every company or corporation that moves or returns its operations to the United States, we’ll offer a 25% tax credit for the current year. For maintaining 50% or more of their operations in the United States, they will receive a 5% credit for every 10% over the minimum, (at 50% they get 5%, at 60%, they’ll get 10% and so on).
In the long run, keeping professional jobs and major corporations in America is better for America, This promotes growth, and represents a long-term investment by our government in the people, which our government is supposed to serve.
© 2004, J.S. Brown
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I propose that the government, through the use of taxation, make outsourcing hurt American companies until they see the light. For every 10% of their workforce that is outsourced, they will be assessed a 10% tax liability against their net profits. The money will go directly to job retraining programs, a relocation fund, and unemployment benefits. The government is essentially saying: “You’re outsourcing? Great! You’re going to help pay for the Americans you’ll displace.”
Of course if we’re going to sock them for outsourcing, we should be encouraging them to insource. For every 10% of their workforce that they shift back to the U.S. in that tax year, we’ll give them a 5% accross-the-board tax credit.
If a company or corporation moves its operations out of the United States, they’re going to be assessed a 25% tax liability on that year’s net profits. Once again, the monies collected will be earmarked specifically for job retraining, relocation expenses, and unemployment for displaced American workers. For every company or corporation that moves or returns its operations to the United States, we’ll offer a 25% tax credit for the current year. For maintaining 50% or more of their operations in the United States, they will receive a 5% credit for every 10% over the minimum, (at 50% they get 5%, at 60%, they’ll get 10% and so on).
In the long run, keeping professional jobs and major corporations in America is better for America, This promotes growth, and represents a long-term investment by our government in the people, which our government is supposed to serve.
TANSTAAFL!
© 2004, J.S. Brown
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