How’s that for standing up to corporate greed?
Bernie Sanders points out that Trump has just signaled to every corporation in the US that it can get big tax benefits and incentives if it threatens to go offshore.
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.
Wouldn’t you think a brilliant deal-maker like Donnie from Queens would have figured that out?
But of course in Donnieland, he saved 1,000 jobs, and damn the consequences. Ra, ra.
I wonder how many times the company had to call him “brilliant” and a “damn good guy” to get those tax cuts?
The company has $6 billion dollars overseas that it is waiting to repatriate until Congress gives it the tax breaks it’s demanding. If the tax plan gives the company 1% better rate of return, that’s $60 million. If the 1000 jobs ‘saved’ pay $50K a year, that’s $50m. In which case, the country would be better off (to the tune of about $10m) refusing to deal, and just hiring the thousand workers in a government jobs program. Hell, claim the factory itself under eminent domain, keep ALL the jobs (rather than the half the company is agreeing to keep) and make the products directly.
Oh, a further revelation on how Trump’s been standing up for the little guy: https://apnews.com/0f1305c8742547df9bcf978b2c15997c/Trump-voter-lost-her-home-to-new-Treasury-secretary?utm_campaign=SocialFlow&utm_source=Twitter&utm_medium=AP_Politics