These companies claimed the GOP tax bill would 'boost jobs.' Now they're laying off employees.

[applegrove]

https://thinkprogress.org/since-pushing-corporate-tax-cuts-to-boost-jobs-half-of-the-rate-coalition-has-laid-off-employees-bc72f74c325e/

By Josh Israel at Think Progress

"SNIP.....

In the lead-up to the enactment of the Tax Cut and Jobs Act, Donald Trump’s massive tax cut that mostly benefited rich people and big corporations, a coalition of powerful business interests formed with one major priority in mind: slashing the corporate tax rate. The Reforming America’s Taxes Equitably (RATE) Coalition comprised dozens of companies and trade groups that all insisted lowering corporate taxes would mean more jobs.

A ThinkProgress review found that about half of RATE Coalition’s members have made layoffs since the law’s enactment. In other words, not only did the expensive tax cut not bring more jobs, it couldn’t even forestall significant job losses.

In 2017, the RATE Coalition’s website identified 32 companies and trade groups who had come together around the singular mission to “reform the tax code, making it fairer and simpler and improving the prospects of growth and jobs in the U.S. economy by reducing the corporate income tax rate to make it more competitive with our nation’s major trading partners.” Together, they constituted a 501(c)(4) tax-exempt organization (first launched in 2011) and promised that a corporate tax rate reduction would “boost job creation and economic growth.”

Their membership list was a who’s who of Big Business: Aetna Inc., AT&T, Altria Client Services, Association of American Railroads, Boeing, Brown-Forman, Capital One, Cox Enterprises, CVS Caremark, Edison Electric Institute, FedEx, Ford, General Dynamics, Home Depot, Intel, Kimberly-Clark, Liberty Media, Lockheed Martin, Macy’s, National Retail Federation, Nike, Northrop Grumman, Raytheon, Reynolds American, S&P Global, Southern Company, Synchrony Financial, T-Mobile, UPS, Verizon, Viacom, and Walmart.

......SNIP"

[delisen]

1. Thanks for posting on these Liars and Manipulators

They have made us poorer deliberately in order to enrich themselves.

[SWBTATTReg]

2. Wow...I knew that a few layoffs had occurred but not this many...guess we all know where this...

extra money is going, eh? It's certainly not going into my pockets. Thanks for posting this update!

[Gore1FL]

9. A friend of mine worked at Union Pacific for 34 years; They laid him off last month. nt

[NCjack]

3. What happened to the money? Who has it? Oh, Republican CEOs

and investors got it. Thanks a lot, all you dumb MAGATs !!!

[smirkymonkey]

4. What a shock!

Did anyone fall for the corporate bullshit again this time?

[pecosbob]

5. I read that article over at ThinkProgress this morning

I've only seen minimal coverage in the media...there is a strong message there for the Dems to wield as a cudgel.

[Hermit-The-Prog]

6. how come money gushes up but barely trickles down?

Rhetorical question. We all know it's because of the selling of America by GOP. Ultra rich can't be expected to help pay for the system that they exploit.

[applegrove]

7. And think of all the stock buyback money that went to foreign investors.

Last edited Wed Dec 5, 2018, 09:00 PM - Edit history (1)

[erronis]

10. Depends on the definition of Up and Down. Down is where the blooksuckers live

Up is where the real people with real concerns live.

Down is at the bottom of the cesspool. For example drumpf is at the bottom of the sludge.

Up is where there is light and real conversations about what we can do to solve the problems.

[applegrove]

11. +1

[Hermit-The-Prog]

12. ah, moral pyramid vs money pyramid

You describe the former, which is larger at the top. Money-grubbers, including M$M, see only the latter, which has most of us carrying the few on our backs.

[klook]

8. More jobs for golf caddies, private plane pilots, limo drivers, et al. (nt)

[erronis]

13. Don't forget the private security guards needed to protect these elites.

Well armed. With assault weapons and heavily armored/gunned vehicles. Machine gunships. Maybe a few missile launchers, chemical weapons (just in case.)

Pay these guards well since your life is in their hands.

And their hands would like some of your booty.

Might make for a nice dystopian movie.

Already been done.

[Blue_true]

15. If society fell down around them, what reason would the guards have to protect them.

Why not just take everything that they have and leave them to survive on their own wits?

[applegrove]

17. And those people's families. Don't forget that the rich GOP, planning

on escaping to New Zealand when the climate or economic dystopia arrives, realized they need their security teams' and pilots' families included in their escape or barricaded compounds or they might not have the cooperation of those employees in doing said jobs. I like to inform them that money will lose all value as we return to a barter system so they need not worry about managing employees as they will be on the same footing as the rest of us and employees will not exist.

[klook]

19. For sure.

[llmart]

14. The plant closings of GM...

and subsequent layoffs always lead to more layoffs at their suppliers. I know a couple of people who have been affected already.

[Scurrilous]

16. K&R

[Demovictory9]

18. kick