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..but US made cars would be too expensive for the Asian market - cost more than comparable Asian made cars in the Asian market.
That in large is due to the VAT tax and tariffs those countries impose upon our goods.
I live in a country where some Chevy models are produced. They are competitively priced against Honda and Toyota. They just aren't popular. 12 years ago you rarely saw a Ford, and Chevy was popular. Now Ford is everywhere and Chevy is the occasional.
It's not GM getting the subsidy. It is the customer.
And everyone is talking about JOBS. Cut the customer subsidy AND those working in those plants will be laid off too.
So much for keeping and adding JOBS.
Whatever happened to those Carrier jobs that were subsidized by Trump and Pence ? Hello !
YES -- punishing GM more won't help their bottom line.
Also we are missing one of the other KEY FACTORS mentioned -- AUTOMATION/ They are going to produce more of the products they sell -- with fewer people.
As I mentioned -- the tariff talks are not the main reason for GM's failings but the perception is there it played a role.
You then add in overall lag in sales in 2017, 2018 (in the auto industry as a whole), products that don't sell & AUTOMATION and that will all impact the work force.
Trump trying to figure out how to punish GM for struggling isn't going to help all those folks that could lose jobs because of Trump's actions.
"It's not clear what subsidies Trump was referring to.
A person familiar with the matter told CNN Business that GM is unaware of any significant federal subsidies the company is receiving beyond a $7,500 plug-in tax credit, which goes to the consumer, not the company."
Funny how our federal tax dollars continue to subsidize every single Big Business (who already own the politicians and make a fortune off them in a million different ways), but the small businesses get not a penny--instead, they are taxed out of business.
Even without the ridiculous taxes, what small business can waste time on the useless overhead costs imposed by Big Government (keeping track of every receipt, filing them, putting them into spreadsheets, plus all the idiotic rules that were imposed to "save the planet" when they do the exact opposite).
For everyone who thinks Capitalism is a failure, it would be eye-opening if we could see the nation actually HAVE capitalism for just a month or so. It would mean small businesses could actually compete with Big Business, there would be no "subsidies" at all since taxes weren't meant to be handed out as political favors, and all the total failures in the economy that we see everyday would no longer exist.
BTW, Obama was the only President who actually STOLE the shareholders investments in GM (including all those pension plans), while giving the Unions who bankrupted the company complete protection and a full bailout--and that's why the company can NEVER be anything but a continuing drain on the taxpayer. Yet again, the checks and balances that are supposed to make the system work are CIRCUMVENTED by an ignorant celebrity.
"It's not clear what subsidies Trump was referring to.
A person familiar with the matter told CNN Business that GM is unaware of any significant federal subsidies the company is receiving beyond a $7,500 plug-in tax credit, which goes to the consumer, not the company."
Don't expect Trump or those who listen to him to know things. They like what he says. Period. It makes them feel good and that is about as far as it goes.
An excellent New York Times study by Louise Story calculated that state and local government provide at least $80 billion in subsidies to corporations.
Direct federal subsidies to corporations: The Cato Institute estimates that federal subsidies to corporations cost taxpayers almost $100 billion every year.
The $7,500 tax credit you get for buying an electric car. I'm assuming you'll no longer get that if it's a GM.
Yea, that's great, isn't it? We should be getting twice as much as that as a government subsidy, but we have a bona fide idiot as President who says he does not believe what a panel of government scientists have recently concluded on climate change, burying the reports release on Black Friday.
We're in a race to the bottom, and the Trump cultists are cheering themselves hoarse.
No one should be laid off. If GM want's to build SUV's and Trucks. GM should build all those in the same plants they want to close.
GM already assembles SUVs and trucks at other facilities in the US.
Retrofit production lines to increase production of SUVs and trucks beyond what they reasonably project can be sold?
What happens when the surplus can only be sold below cost?
Last edited by middle-aged mom; 11-27-2018 at 08:26 PM..
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