Hersh Posted November 27, 2016 Share Posted November 27, 2016 As a consumer, I really focus on spending my money on American made products, but the idea of taxing importers is really problematic in so many ways for small and big companies. It's like full blown stupid is taking over policy in an effort to bring jobs back which will create higher priced goods, have a negative impact on startups and create inefficiencies in the market place. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted November 27, 2016 Share Posted November 27, 2016 American foreign policy in Central Asia might as well not exist. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted November 28, 2016 Share Posted November 28, 2016 Quote Both Carrier and the Trump administration have confirmed that the two sides are in talks, and according to sources at the New York Times and Wall Street Journal, the negotiations are a two-way street, with both the company and administration officials discussing concessions. In order for Carrier to keep jobs in the U.S., the Trump administration has discussed relaxing business regulations and backing away from campaign pledges to impose tariffs on companies that move jobs abroad, according to the Times. The other concession under discussion, according to the Journal, is indulging the company’s desire for favorable changes to the tax code. One particular offer could be a tax holiday on overseas profits, given that United Technologies held 85 percent of its total cash, coming to more than $6 billion, overseas as of the end of last year. Currently, U.S. corporations can indefinitely delay paying American taxes on money made abroad by keeping it abroad, but Trump has pledged to give U.S. corporations a one-time 10 percent tax rate on overseas profits as a way of enticing them to bring the money back. Evidence from past attempts at this very strategy, however, showed that companies simply used the break to bring their money back and give it to wealthy investors, rather than investing it in American jobs or the economy. The same thing is likely to happen this time around. Quote The administration’s current approach also stands in contrast with the one Sanders is vowing to take. Over the weekend, Sanders promised to introduce new legislation he’s calling the Outsourcing Prevention Act, which he says is not just aimed at penalizing Carrier but at any company that moves jobs outside the country. His bill would do a variety of things: prevent companies that outsource more than 50 jobs from receiving federal contracts or tax breaks and other financial incentives; claw back any federal tax breaks or loans they’ve received over the prior decade; impose a tax on them either equal to the amount of money they save by shifting production elsewhere or 35 percent, whichever is higher; crack down on high executive compensation at these companies through tax penalties; and prevent them from buying back their own stock, thus inflating their stock price. United Technologies would be particularly vulnerable to this plan, given that it is one of the largest military contractors, receiving more than $5 billion a year from the federal government, a sum that makes up 10 percent of its revenue. This penalty has also been brought up by other lawmakers, including Sen. Joe Donnelly (D-IN), who wants the government to weigh the outsourcing of jobs as a factor when it decides which companies to award federal contracts. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted November 28, 2016 Share Posted November 28, 2016 Very, very important. Edit: corrected link below. Link to comment Share on other sites More sharing options...
visionary Posted November 30, 2016 Share Posted November 30, 2016 Link to comment Share on other sites More sharing options...
Hersh Posted November 30, 2016 Share Posted November 30, 2016 Awesome, so we keep jobs by bribing companies to stay. Sounds very free market to me. Sounds like every company should now say they are leaving in order to cut better deals for themselves. Link to comment Share on other sites More sharing options...
No Excuses Posted November 30, 2016 Share Posted November 30, 2016 22 minutes ago, Hersh said: Awesome, so we keep jobs by bribing companies to stay. Sounds very free market to me. Sounds like every company should now say they are leaving in order to cut better deals for themselves. It's going to cost a lot of these states some serious tax revenue. I could see it working on the end that it won't put people on the welfare system. Losing a 1000 jobs can be pretty rough on local communities and the contagion can spread to other sectors. But then these red states may mooch off of the federal government to make up for their revenue shortage, as they do now anyway. Link to comment Share on other sites More sharing options...
twa Posted November 30, 2016 Share Posted November 30, 2016 2 hours ago, Hersh said: Awesome, so we keep jobs by bribing companies to stay. Sounds very free market to me. Sounds like every company should now say they are leaving in order to cut better deals for themselves. Is it bribery or simply not cutting their throats? My costs to simply exist are not a free market. Link to comment Share on other sites More sharing options...
Hersh Posted November 30, 2016 Share Posted November 30, 2016 29 minutes ago, twa said: Is it bribery or simply not cutting their throats? My costs to simply exist are not a free market. I have no idea what your second sentence even means, but whether it's bribery or a threat, it sets a bad precedent. Apparently the Cato Institute agrees with me. Strange bedfellows will become common over the next 4 years. Link to comment Share on other sites More sharing options...
twa Posted November 30, 2016 Share Posted November 30, 2016 2 minutes ago, Hersh said: I have no idea what your second sentence even means, but whatever it is, it sets a bad precedent. Apparently the Cato Institute agrees with me. Strange bedfellows will become common over the next 4 years. Odd times indeed. Why do we make it difficult to employ here and act surprised at outsourcing ? I'm pretty much past caring, but the question remains for those so inclined. Link to comment Share on other sites More sharing options...
Hersh Posted November 30, 2016 Share Posted November 30, 2016 3 minutes ago, twa said: Odd times indeed. Why do we make it difficult to employ here and act surprised at outsourcing ? I'm pretty much past caring, but the question remains for those so inclined. That's a deep question maybe worth of it's own thread. We can spend the next four years discussing to pass the time. Link to comment Share on other sites More sharing options...
zoony Posted November 30, 2016 Share Posted November 30, 2016 http://money.cnn.com/2016/11/29/investing/wilbur-ross-donald-trump-commerce/index.html "Free trade is like free lunch: There is no free lunch," Ross told Fox Business in August. "Somebody wins and somebody loses. And unfortunately, we've been losing with these stupid agreements that we've made." 11 hours ago, twa said: Odd times indeed. Why do we make it difficult to employ here and act surprised at outsourcing ? I'm pretty much past caring, but the question remains for those so inclined. What are referring to specifically and what are you proposing we do away with specifically? Link to comment Share on other sites More sharing options...
zoony Posted November 30, 2016 Share Posted November 30, 2016 On 11/27/2016 at 10:55 AM, Hersh said: As a consumer, I really focus on spending my money on American made products, but the idea of taxing importers is really problematic in so many ways for small and big companies. It's like full blown stupid is taking over policy in an effort to bring jobs back which will create higher priced goods, have a negative impact on startups and create inefficiencies in the market place. We toured the home of President James K Polk last week with the kids, and as I was wandering around the first floor museum I was reading some of the press clippings from his campaign. I was SHOCKED to see that one of the huge issues of the day was Tariffs... that the populist position on Tariffs was the LOWERING of them. People were fed up with high tariffs that "favored the rich" and made imported goods out of reach for Americans. It was one of the pillars of Polk's campaign. He made good on his campaign promise after taking office with the Walker Tariff act of 1846, which slashed tariffs on imported goods. Here we are 160 years later and the populist outcry is "we need HIGHER tariffs! The current setup favors the rich!" I think this is just further proof that the American Public should not be making economic policy decisions. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted November 30, 2016 Share Posted November 30, 2016 Krugman and Co must be glad that Trump has relegitimized industrial policy as an economic tool. Now we just need to force his Goldman Sa...er... economic advisors to read this guy's book. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted November 30, 2016 Share Posted November 30, 2016 Maybe coal country isn't ****ed after all. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted November 30, 2016 Share Posted November 30, 2016 One down, 1000 corporations to go. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted November 30, 2016 Share Posted November 30, 2016 Link to comment Share on other sites More sharing options...
No Excuses Posted November 30, 2016 Share Posted November 30, 2016 I am beginning to wonder if Trump's Goldman Sachs appointees will be down with protectionist policies that won him the Rust Belt. Some of them already seem to be skirting around it. Link to comment Share on other sites More sharing options...
visionary Posted December 1, 2016 Share Posted December 1, 2016 Quote Donald Trump secured a victory after successfully pressuring Carrier, a unit of United Technologies, to change its plan to move 2,100 jobs to Mexico to cut costs. Carrier said it would keep about 1,000 jobs in Indiana, after negotiations with Trump representatives including vice-president elect Mike Pence. Carrier said in a statement on Wednesday night that the deal had been possible “because the incoming Trump-Pence administration has emphasised to us its commitment to support the business community and create an improved, more competitive US business climate”, though the company added that “incentives offered by the state were an important consideration”. Carrier gave no details but any state incentives are understood to be far less than the $65m that Carrier previously said it would lose by keeping the jobs in the US. Carrier went on to say that the deal “in no way diminishes our belief in the benefits of free trade and that the forces of globalisation will continue to require solutions for the long-term competitiveness of the US and of American workers moving forward”. Link to comment Share on other sites More sharing options...
zoony Posted December 1, 2016 Share Posted December 1, 2016 55 minutes ago, visionary said: Not sure the article matches the headline Link to comment Share on other sites More sharing options...
No Excuses Posted December 1, 2016 Share Posted December 1, 2016 1 hour ago, zoony said: Not sure the article matches the headline Its a poorly written piece and Twitter headline, but it's correct. Carrier was moving 2100 jobs earlier, but is now keeping a 1000 of those, while still moving the rest. Link to comment Share on other sites More sharing options...
zoony Posted December 1, 2016 Share Posted December 1, 2016 BTW, glad i bought a Trane. carrier can suck my ass going forward Link to comment Share on other sites More sharing options...
visionary Posted December 1, 2016 Share Posted December 1, 2016 http://www.utc.com/News/Pages/Carrier-Statement-Regarding.aspx Quote We are announcing today that Carrier will continue to manufacture gas furnaces in Indianapolis, in addition to retaining engineering and headquarters staff, preserving more than 1,000 jobs. Carrier will also designate its Indianapolis manufacturing facility as a Center of Excellence for gas furnace production, with a commitment to making significant investments to continue to maintain a world-class furnace factory. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted December 1, 2016 Share Posted December 1, 2016 Just to clarify: Link to comment Share on other sites More sharing options...
zoony Posted December 1, 2016 Share Posted December 1, 2016 It's conditioned air and even if you want to go the literal route the company will sell air conditioners as a result of this action doesn't matter where they are made Link to comment Share on other sites More sharing options...
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