MSNBC reports that Many U.S. companies are hiring … overseas, and while this may be a good thing for American companies, it’s bad for those looking for work over here.
Law of Unintended Consequences
I’m sure that it’s crossed your mind, as it has mine: Why is it that the Stock Market continues to do well, there’s more money to be had, and yet the unemployment level is stuck where it’s been—if not getting worse.
The typical explanation we have been hearing is that bad big business has been sitting on its money. We’ve also heard that there’s uncertainty in the how much taxes that companies will have to pay, so they had to rush through the Bush Tax Cut extension as well as a decrease in the payroll tax and extension of unemployment benefits.
But the truth of the matter is that higher regulation and taxes, as well as building demand—in foreign countries—has led to companies hiring overseas.
Why Should I Build It Here?
There’s no reason that we couldn’t build things here to ship overseas—except cost. Since it costs more to employ workers here (because of unions, standard of living differences, etc.), there’s no incentive to train people here. Better to expand one’s company there.
And the Federal Government is just making the situation continually worse by putting greater burdens on American companies that have to care for American workers.
Consider just the last two years—the number of threats about taxes, the government takeovers and ObamaCare. This Presidential Administration has it out for business through its laws while stating the opposite in its rhetoric. And it’s exactly what the left wants.
At some point we’re going to have to have some meaningful regulatory reform that makes it easier to do business here and employee people here, or else we’re going to be the ones building the toys and games while the rest of the world creates the next high tech breakthrough.