Trump, Pence and Carrier Corp. Reach Deal to Keep Nearly 1000 Jobs in Indiana

kobalap

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Treasonous corporations tremble with fear at the mighty power of President Trump. The first president in American history who actually does what he campaigned on.
I am hoping that you just a Trump fan as opposed to a conservative. Because if you are the latter, you need some information on what the conservative platform is about.
 
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steve knight

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Or maybe companies will take advantage of this move as a way to get government benefits for private corporations?

It does depend on what was exchanged for staying, but its not without consequences.


Looking forward to those millions of jobs and revitalized coal industry.
I thought companies where all honest I mean thats why the trickle down theory worked so well right? trump loves to spend other peoples money.
 

pdqgp

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trump said he would do other things to get jobs back not pay bribes. so why is it ok if trump back down already from what he said?
Because he's not President yet and can't change the policies until he is. Glad to see you've accepted him as POTUS as you have though.
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trump loves to spend other peoples money.
$7M over 10 years in tax breaks works out to be about $700k per year or less than $700 per year per person. I think that's peanuts compared to what the tax base would have lost had the entire factory moved Mexico. Just in terms of Unemployment paid out even. Especially once you consider the spending all those families will do over the next 10yrs. Add in the $16M-20M Carrier is now committed to investing in the factory in IN too. They are also required and have committed to keeping a minimum number of employees there in order to get those breaks too.

I'm sure once the full details are released we'll know more. The above is just what they shared at the press conference today.
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I'm guessing that it also included a "gentle" reminder about their government contracts, which I'm sure are worth way more than $65 million.
I have a feeling there are going to be a lot of gentle reminders whispered at the dinner tables over the next few years.
 
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rjohnstone

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Yup, it's a $7 milllon for 10 years gift given to those 1069 families in Indiana, paid for by all the taxpayers of Indiana. Isn't that sweet.
It actually pays for itself. With Carrier investing more than double that in Indiana, it still becomes a net positive for the taxpayers.
 

kobalap

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Yup, it's a $7 milllon for 10 years gift given to those 1069 families in Indiana, paid for by all the taxpayers of Indiana. Isn't that sweet.
It's likely not that bad. Likely the total "bribe" paid to Carrier is far greater but is subsidized through all federal tax payers.

On the downside, this is Obama/GM all over again. They should just let these crappy companies either live or die without being on the government teet.
 

MacAndMic

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Yup, it's a $7 milllon for 10 years gift given to those 1069 families in Indiana, paid for by all the taxpayers of Indiana. Isn't that sweet.
I wonder what unemployment would have cost for those workers. I wonder what taxes Indiana would not receive with Carrier leaving. I wonder..... Hey, just because you're still hurt over the election results, doesn't mean you have to find an evil somewhere that doesn't exist. If there was an other name attached than Trump, you'd be praising it.
 
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shinji

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In context, that's ~$1 per Indiana citizen spread out over 10 years.
 

jpietrzak8

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I wonder what unemployment would have cost for those workers. I wonder what taxes Indiana would not receive with Carrier leaving. I wonder..... Hey, just because you're still hurt over the election results, doesn't mean you have to find an evil somewhere that doesn't exist. If there was an other name attached than Trump, you'd be praising it.
Hey, nice pivot!!! :) Switch straight away from Trump's subsidization of uncompetitive businesses (very Socialist!) to a personal attack on me. ;)

Honestly, I don't like the idea of the government mucking around in the free market. Obama's stimulus was bad enough; but Trump going directly into the market himself and choosing winners and losers is worse. Rather than prop up a business that couldn't compete, it'd be nice if he helped create businesses that do compete, or at least just stay out of it and let the market work itself out.

Let me ask, what is Trump going to do in the future? If Carrier's uncompetitive products fail to produce a profit, will he swoop back in and provide more funds to keep those thousand jobs available? Will he start paying for people to sit on the factory line and twiddle their thumbs, rather than allow the company to lay off any workers? Just how far is he willing to go to have the government prop up those particular jobs?
 

rjohnstone

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so are you willing to foot the bill for other such deals? ok with your taxes going up? too bad trump did not stick with his original plan I guess the business man ideal failed and he went back to bribes.
Those kid of deals happen all the time.
California just gave $8.3 million in tax incentives so HBO would move the production of Ballers from FL to CA.
Apple got a sweetheart deal from North Carolina for building their data center there.

The North Carolina legislature amended its corporate income tax law in order to offer Apple tax breaks of up to $46 million over the next 10 years to build its data center in the state. According to the report, local authorities have discounted property taxes by 50 percent and personal taxes by 85 percent. In exchange, Apple has created 50 full-time jobs and is also expected to create 250 "indirect contracting jobs."
-Link
 

MacAndMic

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Hey, nice pivot!!! :) Switch straight away from Trump's subsidization of uncompetitive businesses (very Socialist!) to a personal attack on me. ;)

Honestly, I don't like the idea of the government mucking around in the free market. Obama's stimulus was bad enough; but Trump going directly into the market himself and choosing winners and losers is worse. Rather than prop up a business that couldn't compete, it'd be nice if he helped create businesses that do compete, or at least just stay out of it and let the market work itself out.

Let me ask, what is Trump going to do in the future? If Carrier's uncompetitive products fail to produce a profit, will he swoop back in and provide more funds to keep those thousand jobs available? Will he start paying for people to sit on the factory line and twiddle their thumbs, rather than allow the company to lay off any workers? Just how far is he willing to go to have the government prop up those particular jobs?
so are you willing to foot the bill for other such deals? ok with your taxes going up? too bad trump did not stick with his original plan I guess the business man ideal failed and he went back to bribes.
You guys do realize Trump had no legal power in this deal don't you? This was a Pence deal between Carrier and the state, sure Trump helped broker it. With that said, when he is president, decisions will have to go through the process, not just a decision he makes alone so stop the what if scenario, it's a waste. I personally find it disgusting that there are opponents to this deal. Once again, ONLY because his name is tied to this.
 

steve knight

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Those kid of deals happen all the time.
California just gave $8.3 million in tax incentives so HBO would move the production of Ballers from FL to CA.
Apple got a sweetheart deal from North Carolina for building their data center there.

-Link
right and we pay for it. if you make 120k a year you pay around 600 in taxes to corporate welfare. only about 45.00 in real welfare.
 

Zenithal

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Carrier while a good product maker wouldn't be on my short list to make a quality product that lasts. That's really all I have to say on this matter.
 

LizKat

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"You're gonna pay a damn tax when you leave this country and you think you're going to sell product because we're all so stupid," Trump said. 4/20/16

http://www.theindychannel.com/news/local-news/trump-on-carrier-youre-gonna-pay-a-damn-tax

What's he do, turns around and gives them a tax break.
Plus now he says he didn't realize while he was in Indiana during the campaign that he said anything that amounted to actually meaning he was going to keep the Carrier jobs in the USA. Way to go, Don. I wonder how many other riffs get brought up to him as IOUs later on. He's lucky he didn't promise to put a standing rib roast in every kitchen in America on the occasion of his first SOTU speech.

Excerpt:

During his attempted victory lap in Indiana on Thursday celebrating the fact that Carrier opted to keep jobs in the state thanks to $7 million in incentives, Trump candidly admitted that he didn't even remember having promised to keep Carrier's jobs in the state and insisted that he hadn't actually meant to make that promise.

He said his mention of keeping Carrier's jobs was meant to signify other manufacturing companies that might be tempted to move jobs outside the country — as Carrier long planned to do — in the future, and that he didn't even realize he had said it until he saw on the news that Carrier's workers expected him to make it happen.​
 
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Zombie Acorn

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Yup, Trump handed them 7 million bucks to keep less than a thousand jobs here. Meanwhile they're still moving over 1000 to Mexico.

He's playing all you for fools. Nothing but a PR stunt.
He didn't hand them 7 million, it's called tax incentives, and most states use them to keep businesses in the state, typically contingent on the company putting cash into the operation as well, I believe Carrier is promising to invest 13 million in this case. Trumps whole campaign was about America not being competitive because regulations and taxes are choking businesses off.

Besides with disasters like Solyndra and Obamacare health coops it's really hard to take the left seriously on business deals.
 

SusanK

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No, Trump handed them seven and a half million. Now we have to watch his ugly face on TV forever. Trump's math is fuzzy on the number of jobs he bought, uh er saved.
 

RootBeerMan

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No, Trump handed them seven and a half million. Now we have to watch his ugly face on TV forever. Trump's math is fuzzy on the number of jobs he bought, uh er saved.
Ask the people in Huntington, Indiana who work for the same parent company if he saved their jobs (no, he didn't). Trump and Pence are charlatans, passing a bill off to the people of Indiana. Hell, they're still shipping hundreds of their jobs to Mexico at Carrier. He put a $7 million bandaid on it.