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Our President-Elect is Carrier's Bitch

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gatorfan
Floridatexan
Sal
7 posters

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Sal

Sal

A brilliant op-ed from Bernie Sanders ....

In exchange for allowing United Technologies to continue to offshore more than 1,000 jobs, Trump will reportedly give the company tax and regulatory favors that the corporation has sought. Just a short few months ago, Trump was pledging to force United Technologies to “pay a damn tax.” He was insisting on very steep tariffs for companies like Carrier that left the United States and wanted to sell their foreign-made products back in the United States. Instead of a damn tax, the company will be rewarded with a damn tax cut. Wow! How’s that for standing up to corporate greed? How’s that for punishing corporations that shut down in the United States and move abroad?

In essence, United Technologies took Trump hostage and won. And that should send a shock wave of fear through all workers across the country.

Trump has endangered the jobs of workers who were previously safe in the United States. Why? Because he has signaled to every corporation in America that they can threaten to offshore jobs in exchange for business-friendly tax benefits and incentives. Even corporations that weren’t thinking of offshoring jobs will most probably be re-evaluating their stance this morning. And who would pay for the high cost for tax cuts that go to the richest businessmen in America? The working class of America.

Let’s be clear. United Technologies is not going broke. Last year, it made a profit of $7.6 billion and received more than $6 billion in defense contracts. It has also received more than $50 million from the Export-Import Bank and very generous tax breaks. In 2014, United Technologies gave its former chief executive Louis Chenevert a golden parachute worth more than $172 million. Last year, the company’s five highest-paid executives made more than $50 million. The firm also spent $12 billion to inflate its stock price instead of using that money to invest in new plants and workers.

Does that sound like a company that deserves more corporate welfare from our government? Trump’s Band-Aid solution is only making the problem of wealth inequality in America even worse.

If United Technologies or any other company wants to keep outsourcing decent-paying American jobs, those companies must pay an outsourcing tax equal to the amount of money it expects to save by moving factories to Mexico or other low-wage countries. They should not receive federal contracts or other forms of corporate welfare. They must pay back all of the tax breaks and other corporate welfare they have received from the federal government. And they must not be allowed to reward their executives with stock options, bonuses or golden parachutes for outsourcing jobs to low-wage countries. I will soon be introducing the Outsourcing Prevention Act, which will address exactly that.

If Donald Trump won’t stand up for America’s working class, we must.

https://www.washingtonpost.com/posteverything/wp/2016/12/01/bernie-sanders-carrier-just-showed-corporations-how-to-beat-donald-trump/?utm_term=.3db6bde25086

Guest


Guest

Do you prefer the solendra model? How many do they employ?

Sal

Sal

PkrBum wrote:Do you prefer the solendra model? How many do they employ?

You prefer corporate pork barrel bribery? ...

... you principled glibertarian hero, you.

What a hack.

Guest


Guest

It's a serious point Poindexter. Is solendra a better model? I didn't say I liked the credits... but I don't like penalties or punitive ideological regulations either. I'm consistent... you're not.

Floridatexan

Floridatexan

PkrBum wrote:Do you prefer the solendra model? How many do they employ?

https://thinkprogress.org/exclusive-timeline-bush-administration-advanced-solyndra-loan-guarantee-for-two-years-media-blow-the-8d84461033cd#.8h32xaoz6

Solyndra was Bush's baby and he tried to sign off on the deal before Obama took office. Read. And before you attack my source, use the Google yourself. You're welcome.

gatorfan



Floridatexan wrote:
PkrBum wrote:Do you prefer the solendra model? How many do they employ?

https://thinkprogress.org/exclusive-timeline-bush-administration-advanced-solyndra-loan-guarantee-for-two-years-media-blow-the-8d84461033cd#.8h32xaoz6

Solyndra was Bush's baby and he tried to sign off on the deal before Obama took office.  Read.  And before you attack my source, use the Google yourself.  You're welcome.


There is no need to attack an obviously highly partisan source, they speak for themselves. LOL

"The Bush administration program didn't finalize a single loan guarantee."

That's the bottom line.

http://www.politifact.com/truth-o-meter/statements/2011/nov/17/david-plouffe/solyndra-loan-george-w-bush-david-plouffe/

"Supporting" an initiative is one thing, making it happen is something else. Whoever signed off on bad loans owns the responsibility.

Sal

Sal

Solyndra was small potatoes.

Every corporate accounting department worth its salt is sitting up and taking notice of this model.

1) Figure out how many jobs you actually want to offshore.

2) Double that number.

3) Issue the threat to offshore the inflated number.

4) "Negotiate" with Trump.

5) Cut the number of jobs you'll be offshoring in half, (back to the original number you actually wanted to offshore in the first place).

6) Credit Trump for "saving" half the jobs that were (allegedly) to be outsourced.

7) Collect your tax credits and regulatory relief goodies while being showered with praise by Trump.

Cool Offshore all the jobs you originally intended to.

This is systematic corruption at the highest level.

Putin would be proud.

gatorfan



Sal wrote:Solyndra was small potatoes.

Every corporate accounting department worth its salt is sitting up and taking notice of this model.

1) Figure out how many jobs you actually want to offshore.

2) Double that number.

3) Issue the threat to offshore the inflated number.

4) "Negotiate" with Trump.

5) Cut the number of jobs you'll be offshoring in half, (back to the original number you actually wanted to offshore in the first place).

6) Credit Trump for "saving" half the jobs that were (allegedly) to be outsourced.

7) Collect your tax credits and regulatory relief goodies while being showered with praise by Trump.

Cool Offshore all the jobs you originally intended to.

This is systematic corruption at the highest level.

Putin would be proud.

Sounds like the recent Bernie Sanders oped but it's only a tiny piece of the story. "Mr. Trump, while offering a carrot through the state incentives, also held an implicit stick: the threat of pulling $5 billion to $6 billion in federal contracts from Carrier’s parent, United Technologies. Mr. Trump and his team were well aware that the amount United Technologies stood to lose in those contracts dwarfed the estimated $65 million Carrier sought to save by moving to Monterrey from Indiana."

http://www.nytimes.com/2016/12/01/business/economy/trump-carrier-pence-jobs.html

You do know all states and even local governments offer incentives to industry knowing that long-term community benefits will exceed the upfront cost. Of course you do.....

Sal

Sal

gatorfan wrote:

You do know all states and even local governments offer incentives to industry knowing that long-term community benefits will exceed the upfront cost. Of course you do.....

So, ....

.... this is all just a cheap PR stunt?

Art of the Deal, indeed.

Floridatexan

Floridatexan


Our president-elect is anybody's b**** so long as it fits his personal agenda.

Guest


Guest

PkrBum wrote:Do you prefer the solendra model? How many do they employ?
Spot on!

Guest


Guest

Floridatexan wrote:
Our president-elect is anybody's b**** so long as it fits his personal agenda.
Perception is everything and it seems as if most would agree Obama is the b.... of the rest the world

Markle

Markle

Tellthetruth wrote:
Floridatexan wrote:
Our president-elect is anybody's b**** so long as it fits his personal agenda.
Perception is everything and it seems as if most would agree Obama is the b.... of the rest the world

Sadly...so very true!

Markle

Markle

Sal wrote:Solyndra was small potatoes.

Every corporate accounting department worth its salt is sitting up and taking notice of this model.

1) Figure out how many jobs you actually want to offshore.

2) Double that number.

3) Issue the threat to offshore the inflated number.

4) "Negotiate" with Trump.

5) Cut the number of jobs you'll be offshoring in half, (back to the original number you actually wanted to offshore in the first place).

6) Credit Trump for "saving" half the jobs that were (allegedly) to be outsourced.

7) Collect your tax credits and regulatory relief goodies while being showered with praise by Trump.

Cool Offshore all the jobs you originally intended to.

This is systematic corruption at the highest level.

Putin would be proud.

Amusing how much work you go to in order to prove your desperation.

Floridatexan

Floridatexan

Tellthetruth wrote:
Floridatexan wrote:
Our president-elect is anybody's b**** so long as it fits his personal agenda.
Perception is everything and it seems as if most would agree Obama is the b.... of the rest the world

I'm sure if you interview your neighbors in Pace, you'd find plenty of agreement.  Pace is, thank God, a small section of the USA.  President Obama has been one of our greatest Presidents, a true leader.  And you've got Trump.

Our President-Elect is Carrier's Bitch J6hWxcU

ZVUGKTUBM

ZVUGKTUBM

Tellthetruth wrote:Perception is everything and it seems as if most would agree Obama is the b.... of the rest the world

No, you are Obama's bitch, because you will be still hating on him 20 years from now.....


Our President-Elect is Carrier's Bitch Gumby10

http://www.best-electric-barbecue-grills.com

RealLindaL



Markle wrote:
Sal wrote:Solyndra was small potatoes.

Every corporate accounting department worth its salt is sitting up and taking notice of this model.

1) Figure out how many jobs you actually want to offshore.

2) Double that number.

3) Issue the threat to offshore the inflated number.

4) "Negotiate" with Trump.

5) Cut the number of jobs you'll be offshoring in half, (back to the original number you actually wanted to offshore in the first place).

6) Credit Trump for "saving" half the jobs that were (allegedly) to be outsourced.

7) Collect your tax credits and regulatory relief goodies while being showered with praise by Trump.

Cool Offshore all the jobs you originally intended to.

This is systematic corruption at the highest level.

Putin would be proud.

Amusing how much work you go to in order to prove your desperation.  

It's called intelligent analysis, something you're not likely familiar with.

dumpcare



https://www.yahoo.com/finance/news/what-just-happened-with-carrier-is-crazy-223106708.html

From 2011 to 2013, the city of Indianapolis and the state of Indiana gave Carrier and an affiliated company $1.7 million in grants and tax incentives, as an inducement to keep two manufacturing plants in the state and bring additional work in. It turned out not to be enough.

Earlier this year, Carrier said it would move those factories to Mexico, eliminating 2,000 jobs and saving $65 million. Indiana and its governor, Mike Pence, demanded most of the tax break money back, and got it.

Then Donald Trump got elected president. Trump had bashed Carrier while campaigning, saying that if he were president, companies wouldn’t get away with such a move. And now, Trump has persuaded Carrier to keep at least half of the 2,000 jobs it planned to outsource in Indiana, a remarkable instance of federal arm-twisting aimed at a single corporation. “Companies are not going to leave the U.S. anymore without consequences,” Trump said while touring the Carrier factory in Indiana.

To reach the deal, Indiana reportedly offered the heating and air conditioning company $7 million in new tax incentives, more than 4 times the previous inducement. So in that regard, Trump may have helped Carrier get a better deal. And there’s no federal commitment—the money will supposedly come from Indiana, courtesy of Hoosier taxpayers.

There’s also the possibility that Trump’s negotiators privately threatened to scale back on contracts awarded to Carrier’s parent company, United Technologies (UTX), a big defense contractor with more than $5 billion in annual revenue from federal contracts. Or, Trump may have promised UT a louder voice in upcoming negotiations over tax cuts and regulatory cutbacks than it might have otherwise had.

The deal is obviously good news for the Carrier workers who get to keep their jobs, but Trump’s intervention in a public company’s business decisions springs all kinds of red flags. For one thing, tax incentives are generally a lousy way to keep jobs, even though many states offer them. One study found that states spent an average of $456,00 per job to lure or keep employers within their boundaries, an amount that raises the question—why not just give the money to workers directly? Another study pointed out that tax breaks are rarely targeted at the young, growing companies that create most new jobs, and instead tend to go to big, established companies that don’t do much new hiring.

Tax breaks also create perverse incentives. Companies, for instance, have learned to play one state off another when angling for the best tax deal they can get for a new plant or facility. When the state of Connecticut wouldn’t lower General Electric’s taxes, it decided to move its headquarters to Boston, where it got a much better deal. Companies could do the same thing at the federal level by threatening to move jobs out of the country, to see what Trump might offer them to stay.

Tax incentives that offset the cost of labor also give companies a stronger incentive to substitute automation and other types of technology for labor, as long as they’re not committed to a minimum number of jobs. That way, employers can benefit from tax breaks while still lowering labor costs by replacing people with machines.

Sal

Sal

It should be noted that President Obama is responsible for killing the world's most notorious terrorist and creating 15 million private sector jobs, and he declined to "spike the ball".

Meanwhile, Trump loses over a thousand jobs to Mexico and agrees to pay approximately $15,000 per job to keep 800 in America, and he goes on a victory tour.

The contrast couldn't be more stark.

Sal

Sal

Hahahahahahahahaha ...

... this deal keeps getting worse ...


It sounded like great news when Carrier said last week that it would invest millions in the Indiana plant it decided to keep in the U.S.

The company's deal with President-elect Donald Trump to keep a furnace plant from moving to Mexico also calls for a $16 million investment in the facility.

But that has a big down side for some of the workers in Indianapolis.

Most of that money will be invested in automation said to Greg Hayes, CEO of United Technologies, Carrier's corporate parent. And that automation will replace some of the jobs that were just saved.

"We're going to...automate to drive the cost down so that we can continue to be competitive," he said on an interview on CNBC earlier this week. "Is it as cheap as moving to Mexico with lower cost labor? No. But we will make that plant competitive just because we'll make the capital investments there. But what that ultimately means is there will be fewer jobs."

http://money.cnn.com/2016/12/08/news/companies/carrier-jobs-automation/

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