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Big lay offs in spite of Tax Bill

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posted on Apr, 23 2018 @ 07:07 PM
a reply to: tabularosa

I know. The middle class, when their tax cuts expire!


posted on Apr, 23 2018 @ 09:09 PM

originally posted by: FyreByrd

originally posted by: Vroomfondel
But then there is Honeywell that just raised its outlook for 2018 because it beat its expectations after raising its dividends. There are always some companies that are laying off and others that are doing great.

The real question is why do you focus on the ones doing poorly and blame the tax cut? Can you demonstrate an actual link between the tax cut and the performance of these companies in terms of cause and effect?

I think we know the answer.

Honeywells 'financial' position has nothing whatsoever to do with layoffs. Hence your response to the OP is a Red Herring.

In fact heavy layoffs tend to inflate a company's financial position.

There is also the consideration that Honeywell most of Honeywell's production is in other countries.

Honeywell has a global workforce of approximately 130,000, of whom approximately 58,000 are employed in the United States.[6]

above from Wikipedia

On local layoffs in November 2017:

A plant’s decision to idle is causing a ripple effect in a local community. The Honeywell plant in Metropolis, Illinois, announced plans Monday to reduce its workforce by 170 full-time positions and 105 contract workers.

Business owners in the area are concerned. They say they know from previous times, the decision will hurt their sales. They say a number of workers at the Honeywell plant travel to work from out of town, and some of them make stops on their way there.

You cannot refute a claim about 'job growth' with anything other then data and sources about 'job growth'.

First, if the tax cut is to blame, why did it not affect Honeywell or any of the other companies doing so well right now? I asked the OP to offer some evidence that showed a cause and effect relationship between the tax cut and the layoffs and none was presented.

I know Honeywell very well having worked there for so many years. You can quote snips from newspapers all you want. I know that company inside and out. The Metropolis plant is being pared down for many reasons, none of which have anything to do with the tax cut. And while the Metropolis plant is cutting back, many of its functions are being incorporated into other facilities in the state that are hiring for many positions. After a lengthy period of multiple acquisitions locations like the Metropolis plant were deemed redundant. It happens.

You cant quote a handful of companies doing poorly and blame it on the tax cut and ignore the companies that are doing well. If the tax cut was that much of a negative impact it should be noticeable on every company, not just those few.

posted on Apr, 24 2018 @ 12:00 AM

originally posted by: tabularosa
The tax cut was never about jobs. It's sole purpose was to transfer yet more wealth from the (lower) middle class to the upper class. It's just that simple. The middle class was thrown a bone, the upper class filet mignon. But the real kicker is the $1.8 trillion deficit the tax cuts will create. Guess who will foot that bill?

The middle class didn't even get a bone, most actual middle class got between $1 and $50 more per week, none of which is actual meaningful purchasing power.

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