Trump is threatening to impose heavy taxes on U.S. companies that move jobs overseas and still try to sell their products to Americans.....
In a series of early-morning tweets Sunday, Trump vowed a 35 percent tax on products sold inside the U.S. by any business that fired American workers and built a new factory or plant in another country.
Trump campaigned on a vow to help American workers but also to reduce taxes and regulations on businesses.

Trump tweets "there will be a tax on our soon to be strong border of 35 percent for these companies wanting to sell their product, cars, A.C. units, etc., back across the border."
https://apnews.com/d5a4140c46844b4f8e50f6c28906906c

Progressives Woodrow Wilson and FDR , both of whom used the power of the federal government to intimidate and destroy law abiding businesses for failing to abide by their political demands. Trump apparently is going to pattern his economic polices on other statists of the last century like Wilson ,FDR ,and the emperor .

He made a big show of "saving " 700 jobs at Carrier at expense of $700 million to the Ohio taxpayers . Meanwhile Carrier will still be moving 800 jobs out of the country . So his Carrier deal is a scam.

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Originally Posted by tomder55

So his Carrier deal is a scam.

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And he has set a precedent for other companies.

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And he has set a precedent for other companies.

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Yes indeed ,he could do more permanent damage to American Capitalism than Obama ever did with his bailouts .I only spoke of the carrots offered to Carrier . What was the stick wielded ? I suspect Carrier's parent company United Technologies, which has quite a few government contracts was read the riot act . Like the Insurance companies forced into the Obamacare plan ,there were rewards and punishments in the quid pro quo. Will American businesses be subject to this type of ad-hoc economic policy throughout his reign ?

And Trump invests in United Technologies. Hmmmm.

You know Dump is the art of the deal so nothing will get done without back room dealing and crony capitalism

Setting the numbers straight, at least as I understand then:

The tax deal with the state of IN is for $7M over ten years, not $700M.

The number of jobs not moving because of the deal is 800. There are still 1100 jobs that are moving to Mexico, as previously announced.

So, DJT threatened to slap a 35% tariff on companies moving jobs to Mexico, but in this case he engineered a $7M tax reduction in exchange for moving "only" 1100 jobs to Mexico. He was clearly bamboozled by Carrier and United Technologies. Corporate welfare marches on!

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Originally Posted by ebaines

He was clearly bamboozled by Carrier and United Technologies.

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You say that with tongue in cheek?

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Originally Posted by Wondergirl

You say that with tongue in cheek?

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Umm... nope. I think any company would love to be paid almost $10K per worker. Trump has consistently talked about how stupid the US is when it negotiates deals, and that only he knows how to "win." Well, if this is him winning, I have to wonder what a loss would look like. I feel great for the 800 or so workers who will keep their jobs at tax payer expense, but the other 1,100 are in for a rude surprise.

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Originally Posted by ebaines

Trump has consistently talked about how stupid the US is when it negotiates deals, and that only he knows how to "win."

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I think we are beginning to get an idea of who is actually the stupid one.

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Originally Posted by ebaines

Umm... nope. I think any company would love to be paid almost $10K per worker. Trump has consistently talked about how stupid the US is when it negotiates deals, and that only he knows how to "win." Well, if this is him winning, I have to wonder what a loss would look like. I feel great for the 800 or so workers who will keep their jobs at tax payer expense, but the other 1,100 are in for a rude surprise.

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Exactly, Trump's Carrier deal is corporate welfare. He wanted a win so badly (since he came out looking bad on the Ford thing), that he gave away the store. Trump doesn't seem to have a lot of respect for the intelligence of the American public (after all he won the election). I don't know why he thinks he can get away with this stuff.

WG, I'm curious do have any proof that Trump has investments in UTC? That would be a gross conflict of interest, possibly even indictable.

Also, Trump currently has NO power to do anything. He may have promised the tax breaks, but don't they have to be approved by the Indiana State legislature or is Pence going to push that through?

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WG, I'm curious do have any proof that Trump has investments in UTC? That would be a gross conflict of interest, possibly even indictable

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I did not dispute it because I thought it was common knowledge. His transition team says he has sold his $250,000 shares in the company bonds January of this year . Here is his May financial disclosure statement .page 45

https://www.documentcloud.org/docume...nt/p45/a295936

Carrier Got A Taxpayer Handout Because Trump Owns Stock In Their Parent Company

I also want to add this interesting article I ran across,

https://www.thenation.com/article/do...-the-pentagon/

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This result of Trump’s “extreme cabinet vetting” fits with his other selections. His education secretary married into a multilevel marketing fortune. His treasury secretary used a favorable government deal to profit off of foreclosure victims, just like his commerce secretary. His transportation secretary’s family owns a dicey shipping company. And now Mattis has ties to the biggest scam company in Silicon Valley. And heck, it fits with a guy who ran a fraudulent fake university. Maybe being linked to something shady is part of the Trump cabinet job description.

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Isn't it fun to holler about someone other than Obama? Can't wait for him to be sworn in!

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Originally Posted by talaniman

Carrier Got A Taxpayer Handout Because Trump Owns Stock In Their Parent Company

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You think? Maybe he does have stock but he can't get much advantage from the deal. What you are saying is that Dump, the president elect, who has no actual power, has acted in his own interest and not in the interest of the Carrier employees. I think he should have told Carrier that any product you move to Mexico will have tarrifs imposed on it and if Carrier wants to make aircon in Mexico for the mexican market, well, they should be free to do so and not be subject to the likes of Dump

Hello, tom:

Lemme see if I've got this right... Trump is building a Carrier plant in Mexico, and Indiana is paying for it..

excon

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Originally Posted by excon

Hello, tom:

Lemme see if I've got this right... Trump is building a Carrier plant in Mexico, and Indiana is paying for it..

excon

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Ex I think you have part of the picture but I expect there will be more to play out in this saga. You could look on it as the Government will pay the wages of those who stay for a short time. You know, to make aircon you need some sheet metal workers, some painters and the usual peripheral skills found in a factory. Very little is highly skilled which is why they can move it to Mexico

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Hello, tom: Lemme see if I've got this right... Trump is building a Carrier plant in Mexico, and Indiana is paying for it.. excon

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ROFL !!!! Now he's going after Boeing ;a company who's stocks he sold last year . I have to see if he has shares of Airbus .

Apparently Trump has sold all his individual stock holdings:

https://www.yahoo.com/news/trump-sol...ce.html?ref=gs

Won't be so easy eliminating conflicts of interest with his own business holdings.

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Originally Posted by ebaines

Won't be so easy eliminating conflicts of interest with his own business holdings.

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All those very tall Trump Towers poking into the clouds make great targets.

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Originally Posted by Wondergirl

All those very tall Trump Towers poking into the clouds make great targets.

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Might be true but it doesn't pay to say things like that impressionable minds are watching and listening

What is with this site and the space bar?