Trump Reaches Deal to Keep Carrier Factory, Jobs in Indiana: Report

a reply to: Indigo5

Got a link?

Good thing no one was asking Trump for 'links' on all the crap he was saying during the election, eh?

Paul Krugman ran some math on this..


Paul Krugman
@paulkrugman

If Trump did a Carrier-style deal every week for the next 4 years, he could bring back 4% of the manufacturing jobs lost since 2000.


Paul Krugman
@paulkrugman

Another metric: Trump would have to do one Carrier-sized deal a week for 30 years to save as many jobs as Obama's auto bailout

fortune.com...

The Pentagon is United Technologies biggest customer, and about 10% of the firm’s overall revenue comes from the federal government.

If this is in fact the motivation for the Indianapolis deal—Fortune reached out to United Technologies on this point and has yet to hear back—it will strike some as the sort of crony capitalism that the Republican Party has been railing against since President Obama took office. In fact, this is just what Michigan Republican Representative Justin Amash implied on Twitter Wednesday:


Justin Amash
‎@justinamash

Not the president(-elect)'s job. We live in a constitutional republic, not an autocracy. Business-specific meddling shouldn't be normalized. twitter.com... …

When a state does this, I call it corporate welfare and cronyism. It benefits politically connected companies at expense of most residents.

fortune.com...

originally posted by: jtma508
Good thing no one was asking Trump for 'links' on all the crap he was saying during the election, eh?

I am pretty sure those links would have ended in .ru

a reply to: Indigo5

Of course they would have--it's the new "American" way.

a reply to: Indigo5

Yeah...just blame the Russians....

A great win for Trump and in the process the democrats have embarrassed themselves again by trying defend Obama's horrible record instead of just thinking about the 1100 families that will have a much better Christmas.

The logic of multiplying this deal and calculating how long it will take to make a difference is typical nonsense. This is a single initiative but the real tap will be turned on when the corporate tax rate drops to 15% and the regulations get lifted.

Democrats in total panic trying to turn positive news into a negative.

They say there is corporate welfare but those people are paying taxes on their wages, instead of being paid by the government for the next year while they try and find a replacement jobs.

Has has anybody ever done a calculation of 5000 people making $20/hr and the taxes they pay, verses 5000 people on unemployment and welfare. What is the net gain to the community ?

originally posted by: UKTruth
A great win for Trump.

We don't know that yet.

a reply to: In4ormant

Yeah, lets just say it was a 7 million dollar tax incentive to Carrier, for a grand total of 800 jobs saved, breaking down to the following, for every job saved: 8750 dollar tax incentive.

This is a dangerous position, cause now it means that if a company wants a bigger tax cut, threaten to move there and then expect such treatment as well.

7 million over 10 years. Not each year or right now. 10 years. Comes out to less than 1000,00 per job per year. The average person collecting Unemployment and EBT and Medicare would be in the 10's of thousands. They are also 'state' incentives.

Giving a break to employ US workers. F yeah...if you do not like it move to Canada.

originally posted by: sdcigarpig
a reply to: In4ormant

Yeah, lets just say it was a 7 million dollar tax incentive to Carrier, for a grand total of 800 jobs saved, breaking down to the following, for every job saved: 8750 dollar tax incentive.

This is a dangerous position, cause now it means that if a company wants a bigger tax cut, threaten to move there and then expect such treatment as well.

Bernie seems to agree with you.

Bernie Sanders: Carrier took Trump 'hostage and won'

"In essence, United Technologies (parent of Carrier) took Trump hostage and won. And that should send a shock wave of fear through all workers across the country," Sanders said in an Op-Ed in The Washington Post on Thursday. Powered by SmartAsset.com TAX CALCULATOR BY TAX CALCULATOR BY Sanders key point: If corporations want cushy tax cuts, all you have to do is threaten Trump and say "we're moving to Mexico." "He has signaled to every corporation in America that they can threaten to offshore jobs in exchange for business-friendly tax benefits and incentives," Sanders wrote. money.cnn.com...

Laws mean nothing now. This is very, very bad for the kids.

So now are Indiana taxpayers on the hook for this 7 million? And what about the other jobs they're still moving anyway?

originally posted by: Kettu
So now are Indiana taxpayers on the hook for this 7 million? And what about the other jobs they're still moving anyway?

I didn't realize at first, Pence was the Governor of Indiana.

Wonder what connection is there.

a reply to: IAMTAT


It was Indiana Governor Eric Holcomb who offered the Tax Incentives to Carrier , not President Elect Trump . Mr. Trump showed the Leadership needed to get the Deal done . He also got Carrier to agree to another $16 million in Investments for the Plant . He used some Leverage with United Tech on their Defense Contracts . The Art of the Deal was being used there to Perfection . No Federal Money Involved . A Smart Move that left the Dems in Shock because they know Absolutely Nothing about Economics in a Capitalistic System considering their Socialistic Leanings Nowadays .

a reply to: Zanti Misfit

So that's 7 million in revenue the state of Indiana will loose?

Sounds like that's going to cause the REST of the tax paying citizens of Indiana to pay for that 7 million...to keep 1,000 jobs.

That's wealth redistribution right there, isn't it? Making tax payers foot the bill in exchange for other people's jobs?

And wealth redistribution is...socialist, is it not?

a reply to: Kettu

That 7 Mil . was an Investment for the State . If those 1000 Workers were Laid off with no Future Job Offers for their Skills , they would not be Paying Income Taxes on their Wages , be Collecting Unemployment , Maybe Collecting Food Stamps , not paying State Sales Taxes on Purchases they could not now Afford on Consumer Goods , and More than likely having to sell their Homes they could not now Afford to keep .They Generated Income Wealth while having a Job , and then they would just become a Burden for the State to Support . So you see , that 7 Mil . Actually saved the State Money in the Long run .Capitalism Trumps Socialism once Again .

originally posted by: Kettu
a reply to: Zanti Misfit

So that's 7 million in revenue the state of Indiana will loose?

Sounds like that's going to cause the REST of the tax paying citizens of Indiana to pay for that 7 million...to keep 1,000 jobs.

That's wealth redistribution right there, isn't it? Making tax payers foot the bill in exchange for other people's jobs?

And wealth redistribution is...socialist, is it not?

Really?
What about the tax revenue (including sales taxes from consumer spending) from people keeping their jobs?
The wage bill is $70m.
Then there is the cost side - less welfare to pay.
Trump just increased profit with this deal AND 1100 people get to keep their jobs.

i.redd.it...