Finance, Forex and Investments

Outsourcing of US companies to places like China and India have deprived the US economy of jobs and taxes.?

Stringent regulations and higher expenses on workers have pushed large investors toward speculation and derivatives, thereby further depriving the US economy of a significant capacity to create jobs and generate revenue. The economic lessons from the Clinton era have been overlooked. During that period the more affluent had been taxed more whereas the less privileged were taxed less. As a result, small and medium businesses sprung up and flourished throughout the US. This economic activity created an inherent vitality through which the US government was able to collect more taxes and ended up with budget surpluses whilst the living standards of the US citizens increased. Unless the basic flaws in the US economy are promptly rectified an economic catastrophe is inevitable within the next few years. Such an economic disaster will affect the rest of the world as the economies are inextricably interlinked. Farhan Aijaz (from Pakistan) farhan_aijaz22@yahoo.com

Public Comments

1. The profits are back to its homeland. The cheap products can curb our inflation. We have the high end jobs,such as management,design,technology invention in America. Americans have to change to the job market demand.But there are also jobs which cannot be outsourcing.Don't you see them around?