Should companies be penalized for outsourcing jobs?

My assignment for my critical argument and discourse class is to write a debate speech on whether or not companies should out source jobs. I have already chosen a side to this issue, but I would like to hear what you guys think.

When US companies outsource jobs to India or China, it is making business sense to them because they are paying less for workers. The minimum wage is much lower in other countries than the US. They benefit from this practice, especially in the case of manufacturing. However, the act of outsourcing labor also hurts the people looking to find jobs in the labor market here at home, though, and some believe that we should penalize companies that do this, in order to persuade them to bring more of their business home. A solution to this problem would be to tax them more heavily, or on the other hand, offer tax cuts to companies who are not outsourcing workers, again to promote them to keep their business in the US.

What do you guys think? What are your opinions on outsourcing? I'd love to hear as many takes on this issue as I could, thank you.

In other news, my Monday went well, for a Monday and all. I have a very busy schedule this week, including two midterms and multiple assignments. I'll post again soon, thanks for following my blog. :)