Posted on 12/05/2016 2:46:03 AM PST by expat_panama
Economy: President-elect Trump's deal with Carrier isn't important because it saved 1,000 jobs. It's important because of the message it sends to businesses everywhere: Help is on the way.
The reaction to Carrier's decision to retain some of its employees after meeting with Trump has been amusing. On the one hand, Trump's critics say the deal was a mere trifle, since there are still so many people out there hurting. On the other hand, they claim that Trump is acting like a third-world despot.
A few headlines paint the picture:
"Trump's Carrier Victory Is the Economy's Loss"
"Trump's Carrier deal is right out of Putin's playbook"
"Is Trump's Deal With Carrier A Form Of Crony Capitalism?"
"Trump Cheered for Carrier Deal Even as Other Jobs Are Trimmed"
"Bernie Sanders: Donald Trump 'Has Endangered' U.S. Jobs With Carrier Deal"
The White House, meanwhile, sniffed that saving 1,000 jobs was a mere fraction of all the manufacturing jobs supposedly created on Obama's watch. (Earth to White House: Trump isn't even president yet. Plus, there are 300,000 fewer manufacturing jobs today than when Obama took office in January 2009...
...the message Trump is delivering to business leaders, we should all be cheering
It means an end to eight years in which President Obama, instead of supporting U.S. companies, arrogantly scolded business... ...and a surging population of labor-force dropouts.
What's more, if Trump succeeds in cutting business taxes, allowing companies to repatriate money parked overseas, and easing the regulatory burden on job creators — as he's promised — he won't have to browbeat companies into keeping jobs here, because they will already be doing that, and creating millions more.
We can hardly wait to see how Trump's critics try to put a negative spin on that.
(Excerpt) Read more at investors.com ...
Well yes, "Crony Capitalism" is probably too broad a term for the Carrier case particularly when compared to the actual examples supplied in abundance by Obama.
But this was a deal that favored Carrier but not the refrigeration industry in general. That is not the way to go and if not "Crony Capitalism" it is still favoritism and will be painted as political when the goal (saving 1000 jobs) was, IMHO, quite honorable.
Bottom line is that we need less of this going forward and a rapid move by Trump to lower taxes and regulations. That will do the trick.
And we certainly need less Mark Levin ranting on the subject. He is burning bridges way faster than even Trump could build them.
“There is no making them happy so why try.”.......
The best thing we can do is to pick and carefully choose what media outlets we frequent and/or listen to. Let the lying creeps go broke, who would really miss them? Certainly not many of us.
I know I will get flamed for this. Do you think Sarah is going thru her ‘changes’?
Sarah is pissed because Trump hasn’t selected her for anything, and Mark is a SCHMO.
Its not “crony capitalism”. Crony capitalism is what we’ve had for the last 8 years. Trump isn’t even president, and all he did was repeat to them what he has said his entire campaign. Move out, and there will be taxes applied to your products. Stay here and we will get you regulatory relief and tax relief.
This isn’t about one company, this is his promise across the board.
And he doesn’t get anything personally out of it. He isn’t taking any campaign money, and he isn’t getting a piece of the company for himself or any of his inner circle. This is the opposite of crony capitalism.
When put into context the Trump/Carrier deal makes sense. When the government needs to use tax breaks to entice a company to stay or relocate it means to me the taxes are too high for everyone. Now Trump needed to convince Carrier not to leave the country. He is not in office so he can’t lower taxes, remove legislation or even really punish them with a tariff. So he negotiates a deal with the cards he can play thru the local/ state government. It’s called the art of the deal.
What’s more, if Trump succeeds in cutting business taxes, allowing companies to repatriate money parked overseas, and easing the regulatory burden on job creators — as he’s promised — he won’t have to browbeat companies into keeping jobs here, because they will already be doing that, and creating millions more.
We can hardly wait to see how Trump’s critics try to put a negative spin on that.
Ok. Just because you put a caveat I’ll be good here. I am a medical professional and a girl so this is for all and its snarky
But it’s hard to answer. So many women excuse their behavior, lack of professionalism, with excuses only women could use.
Menopause does not cause insanity.
Most women who have taken on a high level position like governor, have been through enough to know how to get along in the working world and are able to manage a mood swing
Palin criticized Trump at a crucial time a bad time. If you want to say it’s because she’s a girl then you have to compare her to Kelly Anne Conway, K.T. McFarland or Betsy DeVos, to start, none of whom could I imagine acting insane like this.
K.T., for one, I know, has managed great success while maintaining a family and raising children who contribute to society. So there’s your standard. Along with any successful role model woman I hope you would know from personal experience, and that certainly includes anyone who has been a homemaker exclusively
If you want to say Palin is hysterical I would hope that you could keep her being a woman out of it even if she were to use it. It’s just an excuse and a target for prejudiced bigots
What I think is, she has a problem with Trump and she should be wise and just keep quiet
So what I think is she is unwise. Whatever caused her to be so has nothing to do with any excuse any weakling might have like, “well boys will be boys” or “of course he had an affair with that girl and gave her state secrets, she tempted him and he’s a man”.
You know. Any excuse like that
Well yes, “Crony Capitalism” is probably too broad a term for the Carrier case particularly when compared to the actual examples supplied in abundance by Obama.
But this was a deal that favored Carrier but not the refrigeration industry in general. That is not the way to go and if not “Crony Capitalism” it is still favoritism and will be painted as political when the goal (saving 1000 jobs) was, IMHO, quite honorable.
Bottom line is that we need less of this going forward and a rapid move by Trump to lower taxes and regulations. That will do the trick.
Well said -— though I think some action as a stop-gap can be justified to keep businesses here until proper laws are enacted.
It is utterly amusing to me to see supposed “Libertarians” and self styled “True Conservatives” busy mouthing the Marxist economic dogma that all economic output is property of the State and any time the state takes less it is a “Government subsidy”.
That is the base for this absurd “crony capitalism” argument. This dogma that any reduction in government taxation MUST be “paid for” by increased taxation on others is utterly absurd nonsense completely at odds with our system of Government.
No you foolish children. In our system, the State is granted revenues by the people as a collective good. It is their property granted TO the Government not vice versa. It is up to the voters in IN to render the judgment on their Representatives at the voting booth if this was a wise move or a foolish move for the collective to reduce tax burdens on Carrier in exchange for the collective good of keeping the 1100 jobs.
The other glaring error in this absurd argument is the assumption that the economy is a zero sum game. Thus a reduction here means an addition in taxes there. NO children it does not.
The Five on Fox ran the numbers. By keeping the 1100 jobs the State gets a net gain of $2.5 million in taxes from the 1100 jobs maintained. In addition, the State does NOT have to pay out mandated retraining, unemployment and welfare costs of having 1100 productive highly paid workers taken out of the the work force. The economy is a dynamic force not static as you try to make it be in your “Crony Capitalism” argument.
The final lesson here is, again, we see the reason the “Movement Conservatives” have been the least effective political force in US History.
Letting people keep their OWN money rather then taxing it way from them is GOOD. It is the heart of Conservatism.
We are not going to undo 100 years of creeping socialism by stamping out feet and holding our breath demanding ideologically perfect political dogmas. Yet here we go again with the usual “Movement Conservatives” trying desperately to spin a win as a defeat because it does NOT fit their ivory tower dogmatically pure political fantasies.
That mindset is EXACTLY why “Movement Conservatives” have been the most political ineffective group in US History. They all are so busy whining about everything not being dogmatically ideologically perfect they have accomplished nothing politically since 1980.
Rather the cling to these day dreams of some mythical perfectly ideologically pure fantasy land, it time Movement Conservatives learn to live in the REAL world of poltical incrementalism rather then their ideologically pristine ineffective bubble world.
It’s not. And the “Movement Conservatives” know it. What this is about is the lingering butt hurt the Trump beat Cruz. They will continue for YEARS looking for anything to scream at Trump about rather then admit they were wrong.
This deal couldn’t have been done months ago. It took Trump winning the Presidency to be able to assure that tax relief is coming. The State of Indiana has estimated they would have lost $100 million in total for the first year after losing the saved jobs. $7 million over ten years is a bargain. Why are liberals so angry at over 1,100 families not having their lives crushed? Why? Be honest.
If saving 1000 jobs by giving a US company a tax break to allow it to be more competitive while the ensuring 1000 people and their families pay taxes instead of collecting unemployment, then I am all for this “bad precedent”. Only liberal loonies would think this is a bad thing. The millions that will be collected in federal and state taxes from these 1000 employed individuals will dwarf the tax credits.
Make the definition broad enough and you can bitch about anything and everything.
That's how you get the idiots who say you're being a good Christian when you put Americans out of work by shipping their jobs overseas because poor people there are our neighbors, too.
When you require weapons systems to be made 100% in the US with 100% US made components you're favoring some companies and not others if you want to look at it that way. The reality is, though, you're favoring American interests over foreign interests, exactly what I figure is at the bottom of how Trump worked this out.
People are fond of saying that companies don't really pay taxes anyway but instead pass them on to the consumer. Well, Carrier gets a tax break and there is less tax they have to pass on to the consumer and given the parentage of Carrier, I'm sure Trump made the point that under a Trump Administration defense contracts were going to be carefully looked at for both American content and for price.
I’m so happy that these folks can have a happy Christmas season. For many years when our kids were little the company my husband worked for evaluated people for layoff every December and people wouldn’t know until January if they would have a job for the coming year, as they moved manufacturing to Mexico and China. It put a shadow over the holidays every year. We watched as the company dwindled and my husband bailed out as soon as he was in a position to take early retirement. The company ended up a shadow of its former self and declared bankruptcy - ending our pension. The way businesses treat their people can be terrible, and government gives them incentives to do it. I pray that Trump will be able to make it to office - that he won’t be cheated out of it by Hillary shenanigans - and that he can turn things around for this country. We have been going in the wrong direction for a long time.
Do some bookkeeping here—
Give up $700,000 a year in Indiana taxes.
GET $35,000,000 ++ in gross payroll, Federal Income taxes—State income taxes—and net payroll being spent in the community. Mortgages—cars—schools—groceries—insurance—entertainment—vacations—repairs & maintenance.
If I promised to give you $2.5 million dollars if you gave me $700,000—you would jump for it.
Also- those 1000 people won’t be getting unemployment money & certain kinds of welfare—
Think a company doesn’t mean anything to a town?
Ask the population of Newton, Iowa what happened to that town when Whirlpool bought out Maytag & CLOSED the plant.
6 out of 8 air conditioning companies which sell in the USA are NO LONGER in the USA.
How many jobs disappeared ??
It isn't? Ask the thousand buddy. ;0)
Can you list the bribes that Trump offered for us?
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