Manufacturing Growing 714% Faster Under Trump Than Obama (1 Viewer)

Joe OKC

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Not really sure what this means, Am I reading this right?

The U.S. Bureau of Labor Statistics released its December jobs report Friday morning, showing nonfarm employment was up by 312,000, stronger than analysts expected.
https://www.forbes.com/sites/chuckdevore/2019/01/04/312000-jobs-added-in-december-manufacturing-growing-714-faster-under-trump-than-obama/#5432d5d15b50

 
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Joe OKC

Joe OKC

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https://www.cnbc.com/2018/12/13/trump-says-gm-will-not-be-treated-well.html

“To tell me a couple of weeks before Christmas that she’s going to close in Ohio and Michigan, not acceptable to me,” Trump said Thursday on Fox News. “General Motors is not going to be treated well.”

Trump also criticized GM’s use of Mexican labor and said the recently signed United States-Mexico-Canada Agreement that replaces the North American Free Trade Agreement “really makes it uncomfortable for people to go out of the country, and I think it will be very uncomfortable for them.”
 
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https://www.cnbc.com/2018/12/13/trump-says-gm-will-not-be-treated-well.html

“To tell me a couple of weeks before Christmas that she’s going to close in Ohio and Michigan, not acceptable to me,” Trump said Thursday on Fox News. “General Motors is not going to be treated well.”

Trump also criticized GM’s use of Mexican labor and said the recently signed United States-Mexico-Canada Agreement that replaces the North American Free Trade Agreement “really makes it uncomfortable for people to go out of the country, and I think it will be very uncomfortable for them.”
Why should I believe a failed businessman and habitual liar over a successful corporations decision? I'd think they've done due diligence, I doubt he's even read or capable of understanding the agreement which they likely had a hand in writing.
 

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I say that it shouldn't be that way. Staying unemployed should never be a better option. It gives you no incentive to find something better, which working another job would not prevent you from doing.
I agree with you here. I know from anecdotal experience that there are people who do this and don't think anything of it. A guy my sister was dating had a job a low paying job and purposely got himself fired to collect unemployment when Obama and the Dems successfully extended unemployment benefits. It pissed me off that my sister would be with someone like that. Like I said, I know this is anecdotal.....but the reality is what dtc says below......

I'd rather support a lazy, Cheeto eating bum than pay what I pay in taxes in order to give it to some Chinese company to let them avoid paying taxes and provide some meaningless jobs that don't pay enough to cover the cost of healthcare. I'd rather pay for lazy bums to lay on their sofa than subsidize another yacht for a billionaire and I'd sure as heck rather pay for lazy Americans to have healthcare and education than to spend even one more cent on corporate tax cuts that allow giant multi-nationals to give bonuses to executives and buy back stocks rather than give raises to the average worker.

And that's the point.

Tax codes can be used to incentivize certain behavior and dis-incentivize others. It's not so much picking winners and losers as it is using tax policy to steer the ship of state into a healthy and sustainable future through education, healthcare, smart infrastructure and reasonable energy policy.
 

JimEverett

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And someone is probably getting a new yacht with those profits from letting 4K workers go, killing their retirement packages, and taking plenty of corporate welfare.

Way to go USA. Let's keep worrying about billionaires fortunes and ignore the middle class. The super rich, pampered, and out of touch children depend on it.
What should the USA do?
Two posts down from this you seem to defend the company's actions because it is "successful."
 
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What should the USA do?
Two posts down from this you seem to defend the company's actions because it is "successful."
I don't think so. Saying that a company is more trustworthy to work the system to their advantage than a known habitual liar is to being correct and truthful, is not equal to defending their actions.
 

JimEverett

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Unemployment rates have been steadily dropping since 2009:

https://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&graph_name=LN_cpsbref3

If we've added more jobs in manufacturing, then it would seem we've lost jobs in other sectors, considering unemployment has flatlined since Oct 2017.
I am not sure that is true.

According to: https://www.bls.gov/charts/employment-situation/employment-levels-by-industry.htm
Total employment in January, 2017 was 145,695,000. In December it was 147,596,000 and in Jan, 2018 it is 150,574,000
 

JimEverett

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I don't think so. Saying that a company is more trustworthy to work the system to their advantage than a known habitual liar is to being correct and truthful, is not equal to defending their actions.
Okay, fine, although "successful" isn't the adjective I would use to describe GM - but what do you think the USA should do?
 
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Okay, fine, although "successful" isn't the adjective I would use to describe GM - but what do you think the USA should do?
General Motors reported its fourth quarter 2018 earnings on Wednesday, and the automaker made a pre-tax profit of $10.8 billion.

The figure is down from 2017 pre-tax profits, which were $11.9 billion, and reflects an 8.3 percent drop. Revenue, however, beat Wall Street expectations. GM reported $38.4 billion in revenue, which eclipsed the $36.48 billion estimate. GM stock rallied this morning on the news.
http://gmauthority.com/blog/2019/02/gm-reports-lower-2018-profits-uaw-workers-to-receive-10750-profit-sharing-checks/

Nearly 11B in profit sounds fairly successful to me...


I'd remove subsidies and tax breaks from companies that move jobs to cheaper labor commensurate with the displaced income from American workers.
 

JimEverett

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http://gmauthority.com/blog/2019/02/gm-reports-lower-2018-profits-uaw-workers-to-receive-10750-profit-sharing-checks/

Nearly 11B in profit sounds fairly successful to me...


I'd remove subsidies and tax breaks from companies that move jobs to cheaper labor commensurate with the displaced income from American workers.
What tax breaks does the federal government give to GM? You mean cut incentives for something like the electric car? Or just say regular tax laws do not apply to a company like GM?

If the latter, how is that different from, say, a tariff?
 

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I am not sure that is true.

According to: https://www.bls.gov/charts/employment-situation/employment-levels-by-industry.htm
Total employment in January, 2017 was 145,695,000. In December it was 147,596,000 and in Jan, 2018 it is 150,574,000
Both are actually true.

Unemployment has remained pretty steady for a while now but jobs are being added every month for the most part.

This is for a number of reasons: population growth, people entering and leaving the workforce, people falling off or coming back onto the metrics used to determine these numbers.

As to GM. I think one thing overlooked over so far is the connection to presidential policies. GM warned of the downwind impact of the steel tariffs and as much as i am on board with finding structural changes to help secure and grow our manufacturing sector, to change the incentive structure to not seek the sort of anti-labor policies that harm workers to grow profit. However, GM has a fiduciary responsibility they are held legally accountable for and having to use more expensive American steel is going to hurt their competitiveness and if the trade wars don't subside there is a good chance more manufacturing shifting is on the horizon.
 

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