The carrier deal is not crony capitalism
>The carrier deal is not crony capitalism
And you say this based upon....? Did we all miss where whatever benefit\gift\reduction\etc. was given across the board?
It’s not Fascism when WE do it, eh comrade?
I think I agree with you; but this is how I heard it. Trump called the head guy at United Technologies (who own Carrier), and told them he was going to lower taxes, change regulations, etc., etc. Then Trump ask him, “does that interest you ..??” The guy replied, “it sure does” .. I’ll get back to you”.
The guy called back, and ask for more details; then he told Trump; OKAY .. WE’LL KEEP THE 1100 HERE AND ONLY SEND THE 600, TO RUN THE OTHER PLANT. Trump agreed with his plan.
I don’t think there’s anything wrong with this.
And .. it was the STATE of INDIANA who offered the extra tax breaks .. not the Feds.
Agree, this was the State of Indiana giving tax breaks, over 10 years that amount to $7 million, only $700K per year. Indiana is running a surplus, so these tax credits can be financed out of budget surpluses from Indiana, not federal tax dollars.
More importantly, and this is where Trump really got Carrier’s attentions is that United Technologies, the Parent company of Carrier, also is the parent company of Pratt and Whitney (major industrial engine mfg.). United Technologies via its subsidiary Pratt and Whitney gets 10%11% of its revenues from the US. Federal Government, mostly Defense contracts. In other words, according to SEC Reporting requirements and US Generally accepted Accounting principles, the U.S. Government is a Material Major customer to United Technologies Revenues and Operations [5.63 Billion of Revenue out of 56.09 Billion in 2015, per United Technologies 2015 10-K.]
Hmmmm, you don’t think Trump had a conversation with the CEO of United Technology and said something like
“Hey, you know, you guys I here from all my Military guys are doing some fantastic work for our military, and you know, I am going to be upgrading the military in my administration, and I would love for your company to continue doing fantastic work for our military”. You don’t think the CEO of United Technologies got the message.
There were no federal tax dollar bailouts, just a President using what Teddy Roosevelt called, the “bully pulpit” as a “bully pulpit” to keep jobs here.
Palin is clueless.