United States firms that move overseas will face 35% punitive tax, Trump warns

Sarah Palin – an early Donald Trump supporter and possible administration hire – is questioning whether the president-elect’s Carrier jobs deal is a case of “crony capitalism”. When companies make good business decisions, sometimes the pain of laying off American workers is outweighed by the benefits of increasing profits, paying more in taxes and hiring more Americans in other parts of the (growing) business.

Trump tweets “there will be a tax on our soon to be strong border of 35 percent for these companies wanting to sell their product, cars, A.C. units, etc., back across the border”.

“As U.S. auto workers have learned the hard way, real job security depends on the profitability of the business”, the paper’s editorial page said.

Trump forewarned companies before making a very expensive mistake, telling them that moved jobs overseas would face “retribution or outcome”.

After closing a deal to keep approximately 1,000 USA jobs in the country, President-elect Donald Trump will determine whether to intercede with other companies to prevent them from taking jobs overseas “on a day-to-day basis”, Vice President-elect said on Sunday.

Carrier announced earlier this year that it would move most of its IN operations to Mexico, cutting 2,100 American jobs IN the process.

“[Trump] asked them to reconsider, and they did”, Pence said.

While we’re glad that those IN workers got to keep their jobs and that Sikorsky will be a major presence IN CT for a generation, we can’t help thinking that there has to be a better way – if only because we can’t afford to just buy all the jobs that are being shipped out of state and out of the country.

(UTX), announced via a tweet that they had reached a deal with the incoming President to keep nearly 1,000 jobs, that they originally planned to move to Monterrey, Mexico, in the State of Indiana. “Because we know special interest crony capitalism is one big fail”, Palin wrote in an op-ed on the Young Conservatives website. But this week, after discussions with Trump, as well as a little bribery with tax breaks, the air-conditioning manufacturer committed to keeping about a thousand jobs in Indiana.

Carrier could still face the taxes Mr. Trump threatened against other companies, however. He earmarked the firm saying, “But I called Greg (Hayes, UTC’s chairman) and I said it’s really important, we have to do something because you have a lot of people leaving and you have to understand we can’t allow this to happen anymore with our country”.

She also writes, “Politicians picking and choosing recipients of corporate welfare is railed against by fiscal conservatives, for it’s a hallmark of corruption”.

Trump has also taken aim at Rexnord, another Indianapolis plant that plans to shutter and move hundreds of workers to Mexico in the coming months.

If that approach did not work, there would be penalties, Trump warned. Though he is soon to be Vice President, Pence is now governor of IN, where a Carrier plant contemplating outsourcing is located.

The agreement was less than a complete victory for Trump, as the air conditioner maker will still send an estimated 1,300 jobs there.