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Business
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Title: To 'Save' 800 Jobs, Donald Trump Destroys Exponentially More (Roach Motel)
Source: RealClearMarkets
URL Source: http://www.realclearmarkets.com/art ... exponentially_more_102449.html
Published: Dec 6, 2016
Author: John Tamny
Post Date: 2016-12-12 17:31:04 by Hondo68
Keywords: blunt the market message, proverbial Roach Motel, investors wont enter U.S.
Views: 1732
Comments: 28

President-elect Donald Trump's allegedly heroic efforts to "persuade" Carrier Corp. to maintain manufacturing operations in Indiana have succeeded, for now. Notable here is that if President Obama or President-elect Hillary Clinton had done as Trump did, Republicans and conservatives would have been up in arms - with good reason - about their excessive use of federal power to blunt the message of the markets. But since it was a nominal Republican threatening Carrier with retaliation if it sought to maximize profits, certain members of the right lauded Trump's meddling as a sign from the 45th president that "help is on the way." One prominent conservative writer who should avoid economic commentary altogether cheered on Trump's economy-sapping nostalgia as a sign of "Republicanism in new accord with the needs of the moment." Can we please be serious?

If we forget for now the depressed economic outlook and high unemployment that is nearly always evident where politicians are most aggressively "saving" jobs, Trump's actions were not about a knight-in-shining-armor arriving to tell poorly treated businesses that "help is on the way." If the latter had even remotely informed what Trump did, then he would have simply given another well-publicized speech full of promises to greatly reduce the corporate tax burden, the regulatory burden, and any other barriers to profits that businesses face. 

Instead, and this is what's so shameful about some of the support on the right for Trump's alleged 'coup', Trump's actions vis-à-vis Carrier sent a strong signal that the U.S. will no longer be as hospitable a locale to the very investors who create all jobs. As Trump so obnoxiously and chillingly put it, "Companies are not going to leave the U.S. anymore without consequences. Leaving the country is going to be very, very difficult." Where is the outrage? Trump didn't signal help on the way as much as he signaled retaliation against the companies that don't do as he wishes.  

This is especially interesting when we remember that for decades members of the right have knowingly explained high European unemployment as an effect of how costly it is for companies on the continent to shed non-performing workers. As the right have so correctly put it, "you can't hire workers if you can't fire them." Ok, but the same applies to the United States and the formation of companies right here. If businesses can't relocate out of the U.S., it's less likely that they'll locate here in the first place. If you can't fire an errant country, you're less likely to hire it to begin with. Members of the right who should know better talk up the 800 jobs Trump allegedly "saved," but in their frightening willingness to excuse the most egregious acts of government so long as the person executing them has an R next to his name, they ignore the exponentially bigger number of jobs that will never be created in a United States that Trump is trying to turn into the proverbial Roach Motel. If investors can't leave the U.S., they won't enter the U.S.

As individuals we outsource the food we eat, the clothes we wear, and the cars we drive to producers across the street, and also around the world. Life would be defined by unrelenting drudgery absent our individual ability to "outsource." It's no different for businesses. Trump's promise of 35% tariffs on American businesses seeking to maximize profits through the globalization of their operations is no different from him taxing individual Americans for outsourcing their clothing choices to China or Italy, or the styling of their hair to a French immigrant.

And what about businesses that, as opposed to moving operations overseas, simply use technology to produce more stateside with fewer workers? Will Amazon face higher federal taxes in response to its automation of so many warehouse operations? Will Uber passengers suffer a tax for purchasing a ride from a service that doesn't employ dispatchers? If American Airlines imports computers mostly manufactured in China to shrink its need for human labor, will its passengers pay a 35% tax to fly American's friendly skies?

Beyond the horror and absurdity of Trump's threats, the economic nostalgist in Trump doesn't see that we're a rich and well-employed nation precisely because the nature of American work is constantly changing. In using threat to keep 800 manufacturing jobs in Indiana, Trump is doing the 21st century equivalent of an early 20th century politician seeking abolition of the tractor for the latter having rendered so many farm jobs redundant. Getting right to the point, our wealth and low unemployment are plainly a function of the fact that we don't cling to the work of the past.

Lest we forget, jobs aren't finite nor is the nature of work static. Jobs always and everywhere result from investment, and investors are always and everywhere looking for the most productive locales to put their capital to work. Of course, this speaks to how disastrous Trump's job-saving efforts will ultimately be if they're not neutered by Republicans in possession of a clue. If Trump succeeds in blasting the U.S. economy back to the past, investors will move their capital into a future that doesn't include the U.S.

Detroit and Flint are but two American monuments to job-saving programs employed by politicians. Desperate to hold onto the work of yesterday, they've repelled the very investors eager to fund the work of tomorrow. Conversely, in Silicon Valley companies are constantly dying as are the jobs within them. But as opposed to its citizens spending their days in breadlines, they instead enjoy feverish bidding for their services in all manner of non-technology work in a locale defined by job-destroying technology. Ever ready to kill off its darlings, economic activity in Silicon Valley is always forward looking. Precisely because jobs and companies die there every day, so are new companies and new jobs created there every day. Investors migrate to locales living in the future, and run like crazy from leaders like Trump living in the past.

Donald Trump's actions were a shakedown, plain and simple. Worse, the investors who once again create all jobs were surely watching with negative consequences for those who pine for a future defined by abundant job creation. The problem is that Republicans and conservatives only seem to vaguely understand basic economics and how jobs are created when a Democrat is in the White House. To put it as bluntly as possible, only the most economically confused could conclude that our 45th president's jawboning of Carrier had anything to do with "saving" American jobs.


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#1. To: hondo68 (#0)

"Donald Trump's actions were a shakedown, plain and simple."

Nah. Jesse Jackson's the shakedown artist.

Pence offered $7 million in tax credits (over 10 years) and Trump offered lower corporate taxes and fewer regulations. Now how is that a shakedown?

If it is, then I hope the government shakes me down that way.

misterwhite  posted on  2016-12-12   17:42:52 ET  Reply   Trace   Private Reply  


#2. To: misterwhite, Carrier pseudo gods, pay up sucka, *Bill of Rights-Constitution* (#1)

how is that a shakedown?

Wealth spread. Stealing from 99.9% of taxpayers and giving it to the privileged few .0001% at Carrier. Unequal "treatment under the law".

We're slaves to these god-like super-duper Carrier Trumpkins. Why are we paying them extra to be our masters?

I ain't gonna stay on the Trump plantation!

Hondo68  posted on  2016-12-12   18:03:13 ET  Reply   Trace   Private Reply  


#3. To: hondo68 (#0)

This article is so full of holes and absurdities I could spend a month refuting it. I don't have a month to waste on it. I have another life that's important. If somebody else wants to do it, go ahead.

rlk  posted on  2016-12-12   18:19:14 ET  Reply   Trace   Private Reply  


#4. To: hondo68 (#2)

"Wealth spread. Stealing from 99.9% of taxpayers and giving it to the privileged few .0001% at Carrier. Unequal "treatment under the law".

States give tax credits all the time -- to attract businesses, to keep businesses, and to encourage businesses to expand in the state.

The whole intent is to keep the business in the state where it will employ citizens from that state and will pay taxes to the state such that the state will make money on the deal.

There's no "stealing".

misterwhite  posted on  2016-12-12   18:20:54 ET  Reply   Trace   Private Reply  


#5. To: rlk (#3)

"If somebody else wants to do it, go ahead."

Not I. These nattering nabobs of negativism hate good news, especially if that good news is attributable to Trump.

Which means I expect a whole bunch of these articles over the next 4-8 years.

misterwhite  posted on  2016-12-12   18:25:45 ET  Reply   Trace   Private Reply  


#6. To: misterwhite, theving government, wealth spread, caste system (#4)

States give tax credits all the time

Crime is very popular, so that makes it good?

If someone gets a "tax credit" someone's paying for it elsewhere. It's stealing, even if it's an R doing it. You're a tax slave to the "special" subsidized Carrier elite.

This is not a viable economic system, communism is doomed to failure. It's wonderful for those 800 at Carrier, but the gov can't survive by buying jobs. It's ridiculous, and illegal.

Hondo68  posted on  2016-12-12   18:39:23 ET  Reply   Trace   Private Reply  


#7. To: hondo68 (#6)

Lower taxes are stealing? You socialists are all nuts.

Roscoe  posted on  2016-12-12   18:58:49 ET  Reply   Trace   Private Reply  


#8. To: hondo68 (#2)

The thief in tax land is never a corporation, person, company or church. It is the government stealing what others earn. To get less stolen, or given back in rewritten rules is just government reacting to strength. If the people in America had the balls to stand up as one and tell the Federal government WE WILL PAY NO MORE TAXES, we might have a chance to win our Liberty once again.

Exercising rights is only radical to two people, Tyrants and Slaves. Which are YOU? Our ignorance has driven us into slavery and we do not recognize it.

jeremiad  posted on  2016-12-12   19:13:46 ET  Reply   Trace   Private Reply  


#9. To: Roscoe, wealth spread, special snowflake taxcut, socialists (#7)

Lower taxes are stealing?

If you're getting a kickback for working at Carrier and kissing Trump's ass, yes it's stealing from the rest of the taxpayers. Robbing Peter to pay Paul is theft, you commie!

Lower taxes for ALL. No reparations for you! You're no better than anyone else, even if you work for Carrier.

There are no special tax breaks for Trump's "special snow flakes". Equal treatment under the law, is the law.

Hondo68  posted on  2016-12-12   19:26:54 ET  Reply   Trace   Private Reply  


#10. To: hondo68 (#9)

Whoa, you need to beat a hasty retreat to your safe space. Don't worry, you haven't had an income your entire life so none of this affects you.

calcon  posted on  2016-12-12   20:10:45 ET  Reply   Trace   Private Reply  


#11. To: hondo68 (#9)

If you're getting a kickback for working at Carrier

You socialists are claiming lower taxes are a kickback? Twisted.

Roscoe  posted on  2016-12-12   21:37:25 ET  Reply   Trace   Private Reply  


#12. To: Roscoe, Duke of BS, scofflaw royalty, *Bill of Rights-Constitution* (#11)

claiming lower taxes are a kickback?

Whatever you call it, it's unequal treatment which creates a caste of privileged citizens, who get taxed less than regular Americans.

It's equivalent to a title of nobility, with special privileges. Everyone is equal under the law in America.

"Titles of Nobility" are specifically prohibited in the US Constitution.

Hondo68  posted on  2016-12-12   22:41:39 ET  Reply   Trace   Private Reply  


#13. To: hondo68, tater (#12)

"Titles of Nobility" are specifically prohibited in the US Constitution.

Not according to Tater holding a 20 year marathon fooling the People into his perpetual US government stipend of 300 bucks/month.

buckeroo  posted on  2016-12-12   22:48:09 ET  Reply   Trace   Private Reply  


#14. To: hondo68 (#12)

Whatever you call it, it's unequal treatment

Everyone should pay the same amount of tax?

I thought your kind were all about "from each according to his ability, to each according to his need."

Roscoe  posted on  2016-12-12   23:17:51 ET  Reply   Trace   Private Reply  


#15. To: Roscoe (#14)

I thought

Don't try, you're not equipped for it.

Hondo68  posted on  2016-12-12   23:36:01 ET  Reply   Trace   Private Reply  


#16. To: hondo68 (#15) (Edited)

Looks like you're triggered.

Roscoe  posted on  2016-12-13   1:06:59 ET  Reply   Trace   Private Reply  


#17. To: hondo68 (#6)

"If someone gets a "tax credit" someone's paying for it elsewhere."

Well, if the state extended the tax credit without getting anything in return, sure.

But without the credit, Carrier would leave. Indiana would be left with nothing. No corporate tax revenue. No tax revenue from the workers. And 1000 people out of work sucking up unemployment, food stamps and state funded medical care.

How is that better?

misterwhite  posted on  2016-12-13   11:05:12 ET  Reply   Trace   Private Reply  


#18. To: Roscoe (#14)

"Everyone should pay the same amount of tax?"

2017 Federal Budget: $3.65 trillion. U.S. population: 318 million.

That comes to ... five ... carry the one ... $11,000 per person. Make check payable to the IRS, please.

misterwhite  posted on  2016-12-13   11:16:39 ET  Reply   Trace   Private Reply  


#19. To: misterwhite (#17)

And, using hondo68 logic, why should companies pay income taxes based on profits? Some companies are less profitable than others. They all should be taxed on gross income.

Roscoe  posted on  2016-12-13   11:35:08 ET  Reply   Trace   Private Reply  


#20. To: Roscoe (#19)

"They all should be taxed on gross income."

Yeah. This way if the company had no profit they'd still have to pay. Using what for money I don't know.

But hey. We're taxed on gross income. Companies should be taxed on gross income. But if a company is over 65 years old they get a $2,000 deduction.

misterwhite  posted on  2016-12-13   11:46:56 ET  Reply   Trace   Private Reply  


#21. To: misterwhite (#5)

nattering nabobs of negativism

It's hilarious that you would quote a Vice President who resigned from the office in disgrace in your defense of Trump.

In 1973, Agnew was investigated by the United States Attorney for the District of Maryland on charges of extortion, tax fraud, bribery, and conspiracy. He was charged with having accepted bribes totaling more than $100,000 while holding office as Baltimore County Executive, Governor of Maryland, and Vice President.

On October 10 that same year, Agnew was allowed to plead no contest to a single charge that he had failed to report $29,500 of income received in 1967, with the condition that he resign the office of Vice President.

“Truth is treason in the empire of lies.” - Ron Paul

Those who most loudly denounce Fake News are typically those most aggressively disseminating it.

Deckard  posted on  2016-12-13   12:43:10 ET  Reply   Trace   Private Reply  


#22. To: Deckard (#21)

"It's hilarious that you would quote a Vice President who resigned from the office in disgrace in your defense of Trump."

I didn't. I quoted the guy who wrote the words -- William Safire.

misterwhite  posted on  2016-12-13   12:51:16 ET  Reply   Trace   Private Reply  


#23. To: misterwhite (#22)

The inarticulate and corrupt Agnew was the one who used them in a speech.

So in essence you are quoting him.

“Truth is treason in the empire of lies.” - Ron Paul

Those who most loudly denounce Fake News are typically those most aggressively disseminating it.

Deckard  posted on  2016-12-13   13:36:21 ET  Reply   Trace   Private Reply  


#24. To: Deckard (#23)

"So in essence you are quoting him."

"In essence"?

Let's put an end to the speculation. I posted the phrase and I'm telling you I was citing William Safire when I posted it. Don't fucking tell me who I'm citing.

misterwhite  posted on  2016-12-13   13:45:26 ET  Reply   Trace   Private Reply  


#25. To: misterwhite (#24)

In essence, Deckard is admitting that he doesn't even know who William Safire is.

Ignorance is his strength.

Roscoe  posted on  2016-12-13   13:51:02 ET  Reply   Trace   Private Reply  


#26. To: Roscoe (#25)

In essence, Deckard is admitting that he doesn't even know who William Safire is.

In essence you're an idiot.

“Truth is treason in the empire of lies.” - Ron Paul

Those who most loudly denounce Fake News are typically those most aggressively disseminating it.

Deckard  posted on  2016-12-13   14:08:36 ET  Reply   Trace   Private Reply  


#27. To: Deckard (#26)

So you admit you didn't know who William Safire was.

Sad.

Roscoe  posted on  2016-12-13   14:23:23 ET  Reply   Trace   Private Reply  


#28. To: Roscoe (#27)

He would only have recognized the name if he had he read it in The Free Thought Project.

That’s his Bible and his daily source of yellow journalism information …

Gatlin  posted on  2016-12-13   15:57:06 ET  Reply   Trace   Private Reply  


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