The HIRE Act: 25% tax on outsourcing
moreno.senate.gov
The HIRE Act: 25% tax on outsourcing
1–10 of 20 posts
Re: The HIRE Act: 25% tax on outsourcing
#2There they go making things more expensive in Walmart again…
Re: The HIRE Act: 25% tax on outsourcing
#3There they go making things more expensive in Walmart again…
The upside, in theory, should be more money flowing around
Re: The HIRE Act: 25% tax on outsourcing
#4There they go making things more expensive in Walmart again…
How does impairing the economics of offshoring knowledge work impact Walmart goods pricing?
Re: The HIRE Act: 25% tax on outsourcing
#5While I understand the rationale, is there enough talent in US to make up for the theoretical additional demand this can generate?
Re: The HIRE Act: 25% tax on outsourcing
#6There they go making things more expensive in Walmart again…
How does impairing the economics of offshoring knowledge work impact Walmart goods pricing?
Walmart years back tried a buy USA push. Lower prices outside the us, due to lower wages, less regulations, …. Didn’t last long. If people really want in country products, they’ll just have to pay more. Companies aren’t going to make less.
Re: The HIRE Act: 25% tax on outsourcing
#7While I understand the rationale, is there enough talent in US to make up for the theoretical additional demand this can generate?
Referring to software and hardware talent, which are the biggest target for this
Re: The HIRE Act: 25% tax on outsourcing
#8Earlier quoted context omitted.
How does impairing the economics of offshoring knowledge work impact Walmart goods pricing?
Walmart years back tried a buy USA push. Lower prices outside the us, due to lower wages, less regulations, …. Didn’t last long. If people really want in country products, they’ll just have to pay more. Companies aren’t going to make less.
Again, this is about outsourcing knowledge work and labor, not goods you can tariff. With regards to your Walmart assertion, more than two-thirds of Walmart U.S. total product spend in FY2024 was on items their suppliers reported were made, grown, or assembled in the United States [1] (per Walmart).
[1] https://corporate.walmart.com/suppliers/investing-in-america...
Re: The HIRE Act: 25% tax on outsourcing
#9While I understand the rationale, is there enough talent in US to make up for the theoretical additional demand this can generate?
Yes, there are many people in the US looking for jobs.
Re: The HIRE Act: 25% tax on outsourcing
#10While I understand the rationale, is there enough talent in US to make up for the theoretical additional demand this can generate?
Absolutely. After the “Great Resignation,” where labor was tight and wages were pushed up, there was a large push in both tech and financial services to stand up offshoring operations in Chennai and Hyderabad (India), Manila (Philippines), and LATAM (primarily Mexico City, but also parts of South America) in order to avoid hiring US workers.
As others have mentioned in this thread, simply look at the unemployment rate and time to find a job for these workers. The labor force exists, companies just don’t want to pay for it or offer flexible work (RTO, which is also used to cram down labor costs). They want the control back.