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The average American doesn't care about a net effect on the deficit, which may or may not even be true. They care about saving $2500 a year in taxes. The Democrats know this, which is why they've been calling for tax cuts for the middle & working classes for decades & why they've had to work so hard to spin the tax cuts as a negative. First the tax cuts were going to make everyone pay more, then they were only going to be for the rich, then people realized they'd save an average of $2500 per family. No one outside of the most delusional Trump haters pays any attention to what Democrats say about the tax cuts anymore since they've been wrong every step of the way so far.
The steel industry will never come back to life? There have already been announcements of three facilities reopening or expanding, with 1800+ new jobs coming to the important swing states of Ohio & Pennsylvania. Due to AUTOMATION, the steel industry will never be what it was in 1970, but it will get much bigger than it is currently..
That right there will kill jobs all across the board said companies won't need to hire they can open 25,000 new plants but because of automation there won't be many jobs available. If any.
They won't be. Steel has no alternatives. If you need steel, you will buy steel, no matter the price.
If there isn't enough elasticity in the demand for the product to absorb a 25% increase in the cost of materials then fewer will be produced, at some point that can/will result in layoffs or company closures. I'm surprised you would suggest otherwise when you have stated in these forums that wage increases will result in layoffs, why would you claim that wage increases will result in layoffs but price increases in materials won't?
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Originally Posted by BobNJ1960
Susie's job is going. That $11 minimum wage will look mighty good to her soon, when she is looking for work.
If there isn't enough elasticity in the demand for the product to absorb a 25% increase in the cost of materials then fewer will be produced, at some point that can/will result in layoffs or company closures. I'm surprised you would suggest otherwise when you have stated in these forums that wage increases will result in layoffs, why would you claim that wage increases will result in layoffs but price increases in materials won't?
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Labor (rote tasks) can be automated. When I use a self checkout, I am doing Susie's job. With ease btw.
Steel lacks alternative raw materials.
Its artificially cheap now, via dumping below cost, by several nations.
Samsung & LG said the price of their washing machines would go up $50. $50 on a purchase of $1,000+ that the average American might by once every ten years. Also of note is that Samsung & LG are both racing to open massive washing machine manufacturing plants in the USA.
That right there will kill jobs all across the board said companies won't need to hire they can open 25,000 new plants but because of automation there won't be many jobs available. If any.
Not true. Just as an example, let's say there were 100k steel workers in 1970 and there are 50k today. By reopening these steel & aluminum plants there's no reason we can't up that to 75k workers. It will never be as big as it once was, but it's still requires workers. More plants & blast furnaces mean more workers.
If there isn't enough elasticity in the demand for the product to absorb a 25% increase in the cost of materials then fewer will be produced, at some point that can/will result in layoffs or company closures. I'm surprised you would suggest otherwise when you have stated in these forums that wage increases will result in layoffs, why would you claim that wage increases will result in layoffs but price increases in materials won't?
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