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Highly paid jobs are being moved to foreign countries at an increasing rate. 500,000 financial jobs and 200,000 engineering jobs are being relocated yearly overseas. That is approximately 54 million square feet of office space vacate. Approximately 8,500 manufacturing plants are being closed each year. These are American jobs that should be staying in America, who would ever have thought these types of jobs would be moved across seas? China and India will soon be the world leaders in manufacturing and technological. US President Barack Obama has proposed new tax laws that would affect American Corporations that operate operations abroad by disallowing deductions for various offshore business expenses; this tax law still needs to be approved by Congress. The new tax law, if approved, is aimed at providing tax cuts to companies that keep employment in America, and give higher taxes and removal of tax benefits to companies that outsource to other countries. President Obama is trying to keep jobs in America; many analysts do not believe this new tax law will slow down or stop offshore outsourcing. Companies are offshore outsourcing because costs are anywhere from 40 to 70 percent lower in foreign countries.


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