Are we tired of winning yet?

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“A Trump administration will stop the jobs from leaving America.”

“We’re just shipping company after company after company is leaving this country and leaving jobs behind, And I’m going to get it stopped.”

Remember when Trump was going to stop the offshoring of jobs?
Well, a funny thing happened along the way.

While Trump campaigned on his “America First” message, promising to stop corporations from sending good jobs abroad, the tax bill he signed into law actually incentives companies to set up shop—and stash profits—overseas. Of all the campaign promises that Trump abandoned via the tax law, this one is perhaps the most egregious.

The new law established a lower 10.5 percent tax rate—half the domestic corporate rate—on the income that American corporations earn abroad. As Kimberly Clausing, a tax policy expert at Reed College, told The New York Times, “It’s sort of an America-last tax policy. We are basically saying that if you earn in the U.S., you pay X, and if you earn abroad, you pay X divided by two.” On top of that, American companies do not have to pay U.S. taxes on any profits earned from factories and equipment that is overseas, so long as such profits remain below a certain threshold of overall international investment. Critics say this could spark a new wave of offshored jobs.

I wonder how many Trump supporters know how badly they've been betrayed?
So with offshoring further incentivized, what do you think happened?

But U.S. companies sent thousands of jobs overseas in his first year as president. And many of the companies responsible for offshoring jobs received huge government contracts.

In fact, according to employment data charted by Good Jobs Nation and Public Citizen, federal contractors alone outsourced 10,269 jobs while taking over $19 billion in government money.

Never before in U.S. history have federal contractors sent so many jobs overseas.

So with jobs fleeing the U.S. at the highest rate ever, what do you think that's done to wages?

The average hourly wage paid to a key group of American workers has fallen from last year when accounting for inflation, as an economy that appears strong by several measures continues to fail to create bigger paychecks, the federal government said Tuesday.

For workers in “production and nonsupervisory” positions, the value of the average paycheck has declined in the past year. For those workers, average “real wages” — a measure of pay that takes inflation into account — fell from $22.62 in May 2017 to $22.59 in May 2018, the Bureau of Labor Statistics said.

This pool of workers includes those in manufacturing and construction jobs, as well as all “nonsupervisory” workers in service industries such health care or fast food. The group accounts for about four-fifths of the privately employed workers in America, according to BLS.

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The Aspie Corner's picture

In fact, most of us will never break the transparent aluminum floor. I guess employers figure since most of us are forced to rely upon the less than generous benefits offered like Social Security and Medicare, they shouldn't even have to bother with us....unless of course they need a disabled/non neurotypical individual for good PR...then they're all in, until the grant money they get for that runs out, that is.

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Modern education is little more than toeing the line for the capitalist pigs.

Guerrilla Liberalism won't liberate the US or the world from the iron fist of capital.

Citizen Of Earth's picture

He's only about 10-15 YEARS TOO LATE to stop the jobs bleeding offshore.

And his idiotic tarrifs will cause prices to rise on consumers. Tarrifs screwed the farmers so he's having taxpayers bail them out so they don't make noise about his fuckup.

Mr Art of the Deal. His troglodite dumbass base doesn't realize he bankrupted his own companies many times.
And he keeps on patting himself on the head for economy gains. Blowhard.

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Donnie The #ShitHole Douchebag. Fake Friend to the Working Class. Real Asshole.

The Aspie Corner's picture

@Citizen Of Earth They just wanted to see people they didn't like get hurt.

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Modern education is little more than toeing the line for the capitalist pigs.

Guerrilla Liberalism won't liberate the US or the world from the iron fist of capital.

Citizen Of Earth's picture

@The Aspie Corner
just how fuckin dumb these idiots are. Maybe when the Repubs gut SocSec and Medicare to pay for his Tax Gifts To The Rich, the little light bulb will begin to glow. Nah, I doubt it.

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Donnie The #ShitHole Douchebag. Fake Friend to the Working Class. Real Asshole.

divineorder's picture

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A truth of the nuclear age/climate change: we can no longer have endless war and survive on this planet. Oh sh*t.

snoopydawg's picture

@divineorder

The only response to the tweet

Trump's supporters are just as bad as the Obama and Hillary supporters. They either refuse to see how horrible they are or they're just too dumb to see it.

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Which AIPAC/MIC/pharma/bank bought politician are you going to vote for? Don’t be surprised when nothing changes.

WaterLily's picture

@snoopydawg For most people, politics is still a team sport. Who cares if Barry [Bonds] is doping so long as he's racking up "wins" for "your" team?

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snoopydawg's picture

Not Here! Nor are his daughter's merchandise. They're all made in countries that pay very low wages.

On top of that Trump is trying to hire over 20,000 foreign workers for his Mr.-MaGoo golf club in Florida. I haven't heard that his supporters are upset about any of that. Those foreign workers will be taking jobs away from Americans. Where is the outrage?

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Which AIPAC/MIC/pharma/bank bought politician are you going to vote for? Don’t be surprised when nothing changes.

boriscleto's picture

@snoopydawg So she can devote more time to appearing in the background of photos.

The only silver lining is that 0 American jobs were lost.

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" In the beginning, the universe was created. This has made a lot of people very angry, and is generally considered to have been a bad move. -- Douglas Adams, The Hitch Hiker's Guide to the Galaxy "

detroitmechworks's picture

Instead of politely waiting till you're asleep to ransack your house.

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I do not pretend I know what I do not know.

Trump says unemployment is the lowest in years; he says that Black, Hispanic, and female unemployment is the lowest, and GDP is at a historical high (just over 4%). Supposedly, there are companies planning to bring jobs back.

Who exactly am I to believe?

https://investorplace.com/2017/01/10-companies-bringing-jobs-back-to-ame...

Is the US losing more jobs than returning jobs?

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dfarrah

Citizen Of Earth's picture

@dfarrah
That article is 18 months old. Who knows if any of those companies followed thru on the promises and added even one job. Looks like CEO PR stunts to egg on Donnie Douchebag so he would sign that historic Tax Giveaway to the Rich and Corporations. And now Repubs are busy with a bill planning to gut SocSec and Medicare to pay for it.

BTW, sure GDP is up. GDP measures how well the Rich are doing. The Rich are doing just fine under Donnie. That's what Donnie does.

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Donnie The #ShitHole Douchebag. Fake Friend to the Working Class. Real Asshole.

@Citizen Of Earth However, there are plenty of examples cited in the media that are current.

Supposedly, US Steel is even kicking up manufacturing.

Here is a more current article:
https://www.usatoday.com/story/money/business/2018/06/28/manufacturers-b...

So who is correct? Without cherry picking evidence, what is the net loss or gain?

If it is indeed true that a net gain is happening, then I am happy that some of Trump's actions bore fruit. At least his administration talks about improving the lot of the American worker, something that the dems (Obama - those jobs are never coming back) couldn't care less about.

And I will give credit where it is due, regardless of party or personality.

Somehow I think someone who depicts Trump as Hitler may have a bit of a problem with objectivity.

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dfarrah

Citizen Of Earth's picture

@dfarrah
I have no more interest in debating a MAGAite.

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Donnie The #ShitHole Douchebag. Fake Friend to the Working Class. Real Asshole.

@Citizen Of Earth You can't.

In the comments, there has been no evidence presented that net jobs are returning or exiting the US. It's all "we hate Trump and their ain't no fact that will be considered."

And per your comment earlier in this diary, you apparently aren't aware of what a trade deficit is - a trade deficit is just like taking $$ out of the US' pocket and putting it in the other countries' pockets. The purpose of the Trump changes in the tariffs is to make them fair - so that our businesses here can thrive. Yes, there will be pain in some industries - so apparently, Trump has decide to bail them out. Various people have decried the unfairness to the US of certain situations throughout the years. I'm glad Trump is doing something rather than talking.

The US allowed critical manufacturing to go to other countries. If the tariffs help bring back manufacturing and jobs to the US, I'm all for the changes.

So, you value cheap goods over US jobs; I value US jobs over cheap goods.

I get to go search for a mouse because Logitech makes crap. I've bought three Logitech mice in the past couple of years, all with subsequently shorter lives. So, I've spent around $35 to 50$ on cheap crap, only to be forced to search for another mouse. Yay! Who won here, me the consumer, or Logitech, the manufacturer?

But using the pad on my laptop is difficult and slows me down; so Caucus99 ultimately wins since I can't post much!

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dfarrah

@dfarrah Trump is a serial liar. Everything that comes out of his administration is a lie. The jobs are leaving US due to his great new tax law. Wake up and smell the cesspool!

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@jbob @jbob

You haven't bothered to cite any evidence.

Calling Trump a serial liar tells me nothing. The fact is that he made some promises while he campaigned and he has followed up on some of them.

Trump reminds me a lot of Bill Clinton - constant hysterical screeching on the other side, yet he just kept going, through the primary up to the presidency.

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dfarrah

TheOtherMaven's picture

@dfarrah

Standard political BS for 21st century America. I'm just glad nobody's bombing us. Yet.

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There is no justice. There can be no peace.

@TheOtherMaven

I am very disappointed about foreign involvement, which Trump said he wanted to dial down.

I really wanted to see some major infrastructure going, but it seems he plans to dole out the government funds to private/public 'partnerships,' which to me means severe cost overruns, private parties benefitting at the expense of the public, and ineffective or poor resulting products.

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dfarrah

that says almost the exact opposite, from CNBC (not a Trump ally):

https://www.cnbc.com/2017/12/19/tax-bill-includes-an-incentive-for-u-s-c...

It says the impact of the favorable tax you mention would be offset because the US would be more competitive (overall) for businesses due to other tax and regulatory changes.

Further, doesn't the law charge taxes on what was previously untaxed income? Isn't that good at all?

I'm really tired of political garbage. It is next to impossible to find facts about the impact of policies. The tax code needs to be simplified instead of having complicated code that, for example, allows some sort of tax break on foreign revenue from tangible assets. What a mouthful. There are too many tiers (or tears for those trying to comprehend) of tax code that carve out exceptions for this or that, but politicians have argued for years over the code.

The dems are hedging, as usual, on trying to change Trump's laws according to one of your links.

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dfarrah

@dfarrah

Tax bill includes an incentive for US companies to invest in foreign manufacturing

That's the headline

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@gjohnsit

Isn't investment in foreign manufacturing the same as revenue from foreign tangible assets -- assuming the investment results in revenues?

Are you saying that you are talking about one asset class while the article I cited is talking about a different asset class? I thought the article I cited was talking about manufacturing assets.

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dfarrah