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2017-01-09 Home Front: Politix
BUSTED: @GM Sells Mexico-Made Cars To Ohio @GM Factory Workers, LIED About It To Trump & Public With MSM Cover
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Posted by Blossom Unains5562 2017-01-09 00:00|| || Front Page|| [11130 views ]  Top

#1 Still, none of the governments business overall. He should be not picking out anyone for any reason.

He should be focusing on making it more profitable and enticing to all business owners to run here.

The time he spends in the weeds is unbelievable.

He could maybe focus on making small business more attractive again instead of setting up idiot trade wars which again is stupid.

Tariffs and shit that failed before need to go by the wayside. Your Administration is not about punishing People or Nations, it is about rising them up.

We will check this out naturally, but again,
what is not Specifically outlined in the Constitution and Bill of Rights is reserved for the states.

This has been over-stepped for a long time.
Posted by newc 2017-01-09 00:32||   2017-01-09 00:32|| Front Page Top

#2 Precisely, the only reason that US car industry improved is because Japanese cars started to demonstrate how much better they were.

Maybe Trump wants USAAF with biplanes. That what happened with Italian airforce at start of 2WW after stupid Mussolini went autarchic and incapable of having a competitive fighter engine. Because his Government forbid manufacturers from developing inline engines.
Posted by Phaper Crugum8267 2017-01-09 05:59||   2017-01-09 05:59|| Front Page Top

#3 The USA taxpayer bailed out GM after they started shifting production outside the USA. I think the taxpayers have a say.

With that said my first choice would of been bankruptcy for them. With that not an option they should at least not lie about there production details.
Posted by Airandee 2017-01-09 07:14||   2017-01-09 07:14|| Front Page Top

#4 GM quickly denied Trump’s tweet, and in a press release that same day, the company claimed that all Cruze sedans sold in the US are “built in GM’s assembly plant in Lordstown, Ohio”, and that GM builds the Cruze hatchback for global markets in Mexico, with only a small percentage being sold in the US:
Posted by Besoeker 2017-01-09 07:21||   2017-01-09 07:21|| Front Page Top

#5 The time he spends in the weeds is unbelievable.

Because no one else has been checking on it for decades. When a failed commander is relieved, his replacement can not sit in the office and just issue orders. He has get out and look with his eyes at the problems and issues that created the problems, even kicking tires. Management by walking around. Bright subordinates pick up on the tenure and tone of the commander and start sticking their noses back to where they should have been focused before. The less than bright are fired and replaced. Accountability and ownership is reestablished. Then the new commander can pull back.
Posted by Procopius2k 2017-01-09 07:35||   2017-01-09 07:35|| Front Page Top

#6 The hardest part about this transition is that DJT is not yet in office.

He's just getting his oars wet and we're so anxious to get rid of the Obola regime that it feels like it's taking forever.

We'll see how he does once he actually has control.
Posted by AlanC 2017-01-09 07:50||   2017-01-09 07:50|| Front Page Top

#7 11 days, 11 long and painful days.
Posted by 49 pan 2017-01-09 09:22||   2017-01-09 09:22|| Front Page Top

#8 Newc I couldn't disagree with you more.

Trump's tweets are forcing companies with a history of offshoring US jobs to reassess the financial risk of making large capital investments to move or create jobs overseas. To pick on just a few components of that analysis: 1) overseas capex intended to support the manufacturing of goods that, in whole or part, will be sold within the US becomes significantly more risky as the belief that a tariff will be imposed on said goods becomes more solid; 2) this kind of publicity is to corporate America what sunlight is to vampires, it has an effect on the decision process all by itself; and 3) large businesses are herd animals, if Trump can stampede a few into staying others will begin to doubt their own decisions to go, some to the extent that they'll stay as well (don't believe me - go work at a high level in a Fortune 50 company for a while). Note that in none of these cases is an actual tariff necessary in order to begin modifying the decision process.

A bit outside my wheelhouse but from what I'm reading of the Trump tax plan:

In VAT tax nations, the VAT is (effectively) not levied on exports. Consider Mexico as an example: the price of a GM vehicle manufactured and sold in Mexico will include Mexico's 15% VAT. The same GM vehicle Manufactured in Mexico but imported into and sold in the USA escapes Mexico's 15% VAT while likely entering the US without any tariff applied and is thus cheaper here than the same vehicle had it been manufactured and sold in Mexico. Further, an identical vehicle manufactured in the US but sold in Mexico is slammed with all the effects of the world's highest corporate income tax rate, the world's worst regulatory environment and the world's worst legal environment (all on the US side of course) plus a VAT-equalizing tax levied by Mexico when it crosses the border. As I understand it our present "free trade" deals do not prohibit these VAT-equalizing tariffs being applied to US goods entering "free trade" partner nations but we assess not similar equalizing tax when their goods are brought here. That's a problem if one is interested in preserving business activity in the US.

Again not in my wheelhouse but what's been reported so far is that Trump is proposing a very low US "business" income tax rate, no taxation of profits from exported goods and an equalization tax applied to foreign goods crossing our borders that is levied at the same rate as our business income tax. That seems rather imminently reasonable as it merely attempts to put US goods on the same footing as foreign goods in the global marketplace. This is a sane, rational and measured step that's long overdue if we're interested in preserving economic activity and jobs related thereto in the US.
Posted by Woodrow Sinatra7133 2017-01-09 09:38||   2017-01-09 09:38|| Front Page Top

#9 I'm with #8.
Posted by jvalentour 2017-01-09 10:23||   2017-01-09 10:23|| Front Page Top

#10 Very well explained, Woodrow Sinatra7133. I would only add that senior management has been very frustrated that they've had to store profits made abroad out there, because the tax in bringing that money home is unacceptably high.
Posted by trailing wife 2017-01-09 10:44||   2017-01-09 10:44|| Front Page Top

#11 Ahhh, if only more people were educated at Rantburg U!
Posted by Bobby 2017-01-09 11:05||   2017-01-09 11:05|| Front Page Top

#12 Very good point TW.

Paul Ryan the other day said that there were on the order of $2T in assets that could be repatriated and that they were considering legislation they believed would result in a net effective tax of 5.9% on repatriated assets. But then he went on to say that it would depend on what was being repatriated and that the rate might differ if the asset were "a building or something". How, precisely, one might go about repatriating a building is something only Congresscritters and tax lawyers could comprehend.

I'm curious as to whether the one-time repatriation will be followed by the elimination of all taxes on repatriated capital. At one point it was said that the only countries that taxed repatriated capital were the US and North Korea. If there's a shred of truth in that we might wonder why it has taken so long for an argument to appear against the practice.
Posted by Woodrow Sinatra7133 2017-01-09 12:37||   2017-01-09 12:37|| Front Page Top

#13 What WS7133 said - cut taxes, slash regulations, lower the cost of capital and make it worth their while to bring businesses back to the US - problem largely solved. The first ten Democrats to insist that the government should have a direct role in any 'job retraining' or similar bullshit should be catapulted into the middle of the Potomac.

Yes, I'm talking the Potomac in January - why do you ask?
Posted by Raj 2017-01-09 12:56||   2017-01-09 12:56|| Front Page Top

#14 As a native Washingtonian I remember the pollution and how awful the smell was on the Potomac waterfront in Georgetown until they stopped putting sewage in the river. Now you want to put crap in it again Raj? Please use a landfill, perhaps near Chapaqua or Searchlight. Those places obviously have no olfactory senses anymore!
Posted by NoMoreBS 2017-01-09 13:12||   2017-01-09 13:12|| Front Page Top

#15 DJT better move fast before other countries get wise and tax money that's moved offshore.
Posted by gorb 2017-01-09 13:27||   2017-01-09 13:27|| Front Page Top

#16 Back to GM: Those bastards lost me when they rolled over for Bambi and killed Pontiac in exchange for the loan; then the 'New GM' would not be liable for 'Old GM' warranty/liabilities, then they lied about the Cobalt ignitions.

And that even overlooks the mid-80s when they stuffed Chevy motors in Oldsmobiles thinking nobody would notice.

No 'NEW' GM vehicle in my driveway on my dime.
Posted by USN, Ret 2017-01-09 15:00||   2017-01-09 15:00|| Front Page Top

#17 IMO the main problem is that the USA doesn't have a GST/VAT. If did, all imports would be taxed at the point of entry at the prevailing rate. Thus putting imports on the same tax base as domestic manufactured goods (ignoring other taxes like payroll taxes).

Trump has correctly concluded the solution is a blanket import tax.

While is being labelled a 'taffif' by the media, it's more like a tax regime equalisation charge.
Posted by phil_b 2017-01-09 18:50||   2017-01-09 18:50|| Front Page Top

#18 All a tax will do is make cars more expensive for you. All GM did was the same. The first bailout put Saturn out of business. Remember Saturn cars?

You play with the market, you get horns.
Posted by newc 2017-01-09 18:54||   2017-01-09 18:54|| Front Page Top

#19 There are things being imported that are unfairly holding the price down, therefore hiding inflation.

It also seems there is enough relatively legitimate competition in enough areas that this won't be a widespread problem.

Just a couple of thoughts. No experience to back it up.
Posted by gorb 2017-01-09 20:48||   2017-01-09 20:48|| Front Page Top

#20 So be it.
Posted by newc 2017-01-09 20:55||   2017-01-09 20:55|| Front Page Top

#21 Why do you think the Japanese auto companies started building manufacturing plants in the US when the first Oil Embargo had Americans streaming to their cars and abandoning gas guzzling domestics? [only to find out they were build better and no nickel and diming on the sticker]. Cause Detroit and its Congressional operatives were threatening to force a tariff. Now they're in a position to weather all of this.
Posted by Procopius2k 2017-01-09 21:28||   2017-01-09 21:28|| Front Page Top

#22 LH is truly a fortunate man.

Posted by Blossom Unains5562 2017-01-09 21:45||   2017-01-09 21:45|| Front Page Top

#23 Who is LH, Blossom Unains5562?
Posted by trailing wife 2017-01-09 22:04||   2017-01-09 22:04|| Front Page Top

#24 TRUMP IS AN AVOWED CAPITALIST.

You will see a capitalist style presidency like never seen before.
Posted by Glineth the Grim6921 2017-01-09 23:14||   2017-01-09 23:14|| Front Page Top

23:14 Glineth the Grim6921
23:01 g(r)omgoru
22:04 trailing wife
21:59 Crusader
21:45 Blossom Unains5562
21:28 Procopius2k
20:55 newc
20:50 gorb
20:48 gorb
20:32 trailing wife
20:28 Blossom Hupager6063
20:27 trailing wife
19:42 phil_b
18:57 DarthVader
18:54 newc
18:50 phil_b
18:14 M. Murcek
17:56 Raj
17:53 Shipman
17:53 Pappy
17:51 Shipman
17:47 Shipman
17:29 Raj
17:21 Raj









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