Carrier Corp. Moving out of Indy, 1,400 Jobs Gone

[ghitch75]

that is the way it should be........ship jobs out and we won't do business with you......

 

[hoosierdoc]

So can we call this thread dead in the water?

Not so fast. A union guy says Pence only wanted the deal because he's VP now. So there's that

 

[KMaC]

I saw my Congressman, Andre Carson, on the news last night. He said the entire Indiana delegation had worked tirelessly to get this agreement. He didn't actually claim credit but I think he is in line to get his participation trophy.

Purple was implied. The term "participation trophy" was used in the context of "I was wandering aimlessly somewhere in the vicinity when the touchdown was scored. Where's my trophy?".

 

[ArcadiaGP]

Regarding the deal, Indiana is giving Carrier $7m worth of tax breaks over 10 years.

 

[avboiler11]

Regarding the deal, Indiana is giving Carrier $7m worth of tax breaks over 10 years.

10.6 cents per Indiana resident, per year.

Put another way, the state unemployment benefit is capped at $390/week (annual income $43,150 or greater). Two weeks of unemployment benefits paid to 1000 employees would exceed the annual tax incentive.

 

[printcraft]

Regarding the deal, Indiana is giving Carrier $7m worth of tax breaks over 10 years.

American corporation are vastly over taxed and over regulated to begin with.
If mexico or china had to pay the taxes and deal with the regulations we do it would be a MUCH different playing field.

<<<<<<<<< Corp. guy for full disclosure.

 

[JTScribe]

Regarding the deal, Indiana is giving Carrier $7m worth of tax breaks over 10 years.

Chump change, really. Thinking the big stick about to be in the White House had more than a little to do with it.

 

[avboiler11]

I'm sure UTX getting 10% of their annual revenue from US government contracts had nothing to do with it.

 

[91FXRS]

Am I missing something? If they go to Mexico we get no taxes from them and we loose 1000 Hoosier jobs?

 

[printcraft]

Am I missing something? If they go to Mexico we get no taxes from them and we loose 1000 Hoosier jobs?

No, you've got it correct. You can't tax revenue that vanishes to another country.

 

[Kutnupe14]

Chump change, really. Thinking the big stick about to be in the White House had more than a little to do with it.

Is it? Do businesses of comparable size, that compete with Carrier also get this deal. I think there's a solid argument to be made, that all of Carrier's competitors deserve to have that deal matched. If government is going to intervene, they shouldn't be picking the winners and losers; they should should have a policy that benefits all. I think Trump is showing how naive he is going to be, in the realm of govt. His Achilles Heel will be transparency....something he's good at avoiding in private business. He just set up the blueprint for companies to squeeze money out of the government.

 

[ArcadiaGP]

If we know lower taxes keep jobs in the US, create that overall favorable climate. No problem with breaks, just the cronyism.

 

[Woobie]

Is it? Do businesses of comparable size, that compete with Carrier also get this deal. I think there's a solid argument to be made, that all of Carrier's competitors deserve to have that deal matched. If government is going to intervene, they shouldn't be picking the winners and losers; they should should have a policy that benefits all. I think Trump is showing how naive he is going to be, in the realm of govt. His Achilles Heel will be transparency....something he's good at avoiding in private business. He just set up the blueprint for companies to squeeze money out of the government.

To play the devils advocate to your point:

Trump isn't really in a place to affect large scale policy change. One could say he is simply stepping in quickly to stop the move. The timing benefits him politically. It's a very astute move from that perspective.

The system is currently set up in such a way that forces these unsavory situations. The real test will be what he does from a regulatory and tax policy standpoint to prevent these sorts of things in the future.

 

[Woobie]

Gotta say, I really like Mike Pence. But he's making me a little nauseous right now, lol.

 

[Leadeye]

Be interesting to see how much traction Trump gets with this sort of deal, even modest success in returning jobs is going to be a big stick to beat democrats with in the near future.

 

[Woobie]

Well I'm happy for the workers, and Indiana. But the big winners are 1) Carrier for the new incentives, but also the huge PR boost. They basically just got a free infomercial on all the national news outlets put on by the President-elect. 2) Trump handled this in a very populist way that will be difficult for his opponents to combat. They will trot out the tired lines about tax breaks for big business, but when Trump has a photo op with 1100 blue collar workers whose jobs he saved, it will ring hollow.

 

[miguel]

Well I'm happy for the workers, and Indiana. But the big winners are 1) Carrier for the new incentives, but also the huge PR boost. They basically just got a free infomercial on all the national news outlets put on by the President-elect. 2) Trump handled this in a very populist way that will be difficult for his opponents to combat. They will trot out the tires lines about tax breaks for big business, but when Trump has a photo op with 1100 blue collar workers whose jobs he saved, it will ring hollow.

Probably cheaper than a national marketing campaign to promote their brand. Never underestimate the good will of the goobs in the marketplace...

 

[avboiler11]

Honda got $141.5M in incentives from the state of Indiana for the Greensburg Civic plant.

 

[JTScribe]

Honda got $141.5M in incentives from the state of Indiana for the Greensburg Civic plant.

Wow.

 

[HoughMade]

Honda got $141.5M in incentives from the state of Indiana for the Greensburg Civic plant.

Over how many years? They mentioned speeding up an interchange that was apparently planned for long time. is the whole cost of the interchange included? Over the amount of time the incentives run, what is the tax revenue?