President-elect Donald Trump has interests in golf courses, hotels, and other companies operating abroad – and yet he want to punish any domestic company that operates in a foreign land. Either by denying the opportunity to outsource their business abroad or taxing all imports into the United States. Pretty much the reason why most domestic companies keep their profits abroad in tax vehicles immune to American taxing authorities. Maybe the reason why Trump is reluctant to release his tax returns?
So it appears that Donald “Make America Great Again” is mirroring Obama: using the taxpayer money to purchase a feel-good photo op moment …
First there was the stated intention to heavily tax or tariff Carrier’s products that were produced abroad. And then came the implied threat that Carrier’s parent, United Technologies might be subject to more scrutiny for its multi-billion dollar government business.
So it appears that Donald Trump pledged 7 million taxpayer dollars to keep approximately 800 jobs in the State of Indiana. Not mentioning, that Carrier still plans to export 1,300 jobs to Mexico. What kind of crazy negotiation is this? Is this the beginning of Trump’s crony capitalism and using taxpayer dollars to support his campaign pledges and massive ego – even when the deal makes little or no sense and is a direct impingement on the principles of Capitalism and free trade? Even if the tax incentives come from the State of Indiana, one can anticipate some form of federal block grant to cover the expense.
Trump would have better served the American consumer if he negotiated with ALL the companies instead of cherry-picking winners and losers. Negotiating with individual companies is crazy, costly, and time consuming.
How many people know this …
Did you know that Donald Trump nominated Elaine Chao to be the nation’s Secretary of Transportation? Just in time to preside over a stated one TRILLION dollar domestic infrastructure program, much of it controlled by the DOT. And while Elaine Chao, the former Secretary of the Department of Labor, is a skilled Washington insider – she is also the wife of Senate Majority Leader Mitch McConnell. You think that this program will have any trouble passing the Senate? Other picks featured fellow-billionaires (and democrats) whose fortunes include significant foreign investments, operations, and sales. Crony capitalism at its finest.
Bottom line …
It appears that Donald Trump may be every bit an egomaniacal empty suit as Barack Obama, engaging in crony capitalism and using taxpayer dollars to purchase additional political power and photo-ops. Not even in office and his selection of advisors reek of the establishment and individuals who are extremely wealthy. Whether these people can suppress their venal instincts and do good for the United States remains to be seen. In the final analysis, the Carrier deal marks the hypocrisy of Donald Trump who appears to be moving left to a progressive “don’t do as I do, do as I say” position.
We are so screwed.
"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius