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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (37461)	2/8/2004 6:22:21 PM
From: Lizzie Tudor	Respond to of 89467

nothing secret here- what would you like to know? John Chambers said as such in his conf call.... 10:1 ratio cost of US engineer to offshore. This is not entirely true of course, he is probably looking at fully loaded costs. US professionals have 15K fica tax, plus US income tax and maybe state. To hire that same engineer in india there are no taxes, so a huge problem right there. From a VC website, I recommend that you initially hire offshore development firms rather than build your own in-house staff to develop product. beyondvc.com Basically, the entire myth that "new industries" will pop up to absorb the jobless in the USA is a myth that the clueless Bush econ people are pushing. New industries are being funded and developed offshore now. This is a major capital drain for the US economy. I think we (the US) are going to be in a world of hurt for the forseeable future also.