Quote:
Originally Posted by JD Barleycorn
jobs are still moving overseas, potential employers are not hiring do to tax uncertainty, and this all Obama. Romney had nothing to do with it.
|
Let me give you a little inside scoop.
One of my current client companies has an ongoing project to move the bulk of their R&D operations from New Jersey to China. It has nothing to do with Obama, or the economy, or tax rates. This is a macro trend as a result of cheap labor coming on-line across the globe.
They can hire a PhD level scientist with 10 years experience in China for about the equivalent of 25K US. In America they pay for an equivalent person is about 120K. For BS level and sub-BS technicians, the pay differential is about 8K vs 50K.
Of course, this is anecdotal told to me by managers of this client company (not the ones getting fired). So the numbers may be off a little? My point is this ridiculous idea of ignoring long-term macro trends in favor of pot-shotting "the other side."