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Paying their corporate employers to keep them on the job is just bad, horrible, economics.
To be clear, lowering one's tax burden is not paying them anything.
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It is disruptive to market forces that set prices, supply and demand and encourages corporate inefficiency which just makes matter worse. Or they could work for less. It probably would not have to be 3 bucks an hour, because US workers are far more productive and other costs of production are lower domestically. But it means a lower standard of living - more like the rest of the world.
What does bailing out a failed business encourage?
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Tariffs are theoretically more attractive than corporate welfare (and indirect worker welfare), but they will cause significant economic dis- and relocation. They too will result in a lowered standard of living on average, but the working class will probably benefit. I think we will see tariffs coming in to some degree world wide in the next decade. Workers in the consuming nations are all in the same pickle that US workers are and they are making their dissatisfaction known at the polls just like ours are. Wilbur Ross, Trump's point man on trade is something of a protectionist as well.
Trump is a Wharton man. His cabinet so far is some of the best minds in the corporate/banking world FWIW. They know that what he did here is no solution. It's optics and it is going to take some serious work and even experimentation to come up with a way to deal with the vast differences in labor costs around the globe.
They might know but the facts are, we still do not. We should.
If we really wanted to keep jobs here in the US we would institute countervailing tariffs set to eliminate any economic benefit derived from lower wages, less safety regulation, government support and environmental factors associated with foreign goods. We are a supposedly "Free Trade" economy operating in a world wide Mercantile economy and suffering greatly for our "Purity". We need to use tariffs to keep our economy prosperous instead of simply a source of revenue for underpriced importers.
Re-adding regulation might work, but whatever they do it needs to be a nationwide policy to benefit everyone.
Paying their corporate employers to keep them on the job is just bad, horrible, economics. It is disruptive to market forces that set prices, supply and demand and encourages corporate inefficiency which just makes matter worse. Or they could work for less. It probably would not have to be 3 bucks an hour, because US workers are far more productive and other costs of production are lower domestically. But it means a lower standard of living - more like the rest of the world.
Tariffs are theoretically more attractive than corporate welfare (and indirect worker welfare), but they will cause significant economic dis- and relocation. They too will result in a lowered standard of living on average, but the working class will probably benefit. I think we will see tariffs coming in to some degree world wide in the next decade. Workers in the consuming nations are all in the same pickle that US workers are and they are making their dissatisfaction known at the polls just like ours are. Wilbur Ross, Trump's point man on trade is something of a protectionist as well.
Trump is a Wharton man. His cabinet so far is some of the best minds in the corporate/banking world FWIW. They know that what he did here is no solution. It's optics and it is going to take some serious work and even experimentation to come up with a way to deal with the vast differences in labor costs around the globe.
It is done all the time and sometimes the outcome is not predicted: 'They work those people like dogs' - News - poconorecord.com - Stroudsburg, PA. Our State Representatives and County Representatives worked hard to secure the $9,000,000 in loans so Iridium could retool and create more jobs in my County. That was before ICE swooped in and hauled away 81 illegal immigrants! The company only had 130 full time workers before that ICE raid; the number of Temporary workers was not known.
According to the newest news; Trump facilitated the State, in Carrier's case, to give them $9,000,000 in tax rebates spread out over ten years. Supposedly it was not a total success since part of the company will still move to Mexico. I am hoping that changes when Trump rethinks our trade agreements. I am presuming that we will never hear of any ICE raids on Carrier!
When Mexico complains about US jobs staying in the US, you know you are on safe grounds. Leave it up to CNN panels to find something wrong with the deal.
Trump is giving a speech about it still sounds like he is running to become president giving speeches is not his strong suit wow he sucks hope he really limits his time in front of cameras
Sounds like he thinks he is in a small dark comedy club doing a set
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