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Senior Project: Outsourcing

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Senior Project Outline

Many people in today's society are not happy with the outsourcing that is happening in our country. Many people believe that the outsourcing is taking millions of jobs from our economy. Industries are given tax breaks when they move to an area and the government thinks and knows that they will bring in thousands or millions of dollars in revenue. Outsourcing also hurts our economy because it is putting us farther into our deficit. Outsourcing is not a good thing because they move to new countries so they do not have to pay American taxes, it hurts our economy, and one of the only ways that they will stay in our country is to take tax breaks.
In business, outsourcing involves the contracting out of a business process …show more content…

It ends up putting our country farther into its trillions of dollars in debt. “Eight of the biggest U.S. technology companies added a combined $69 billion to their stockpiled offshore profits over the past year, even as some corporations in other industries felt pressure to bring cash back home (U.S)”. Eight of the top technology companies,including Microsoft, Apple and Google, now account for more than a fifth of the $2.10 trillion in profits that U.S. companies are holding overseas. “The amount of unrepatriated foreign profits reached $2.4 trillion, according to Citizens for Tax Justice, allowing companies to avoid up to $695 billion in taxes …show more content…

Tax breaks are when a certain area or the government will give a company little to no taxes so they will stay in the area. This may or may not hurt our economy. Some companies end up leaving the area that gave them a tax break when the break runs out. This happened with the Film Industry in Wilmington, North Carolina. The Film Industry brought millions of revenue to our local economy when they made television shows and movies. It brought jobs for all types of people in the industry. Everything from actors to every type of behind the scene jobs. The film industry was brought to our area a few years ago and had an amazing impact on our economy. When the tax breaks ran out, they decided to leave. One person said that “The state got a bit more frugal, and didn’t see the importance of the film industry to the economy(Film)”. The film industry is to come back to Wilmington, North Carolina sometime this year says the news

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