straightUp Loc: California

At Harley-Davidson, Trump's tax cuts help investors while 800 workers loose their jobs.

https://www.vox.com/policy-and-politics/2018/5/22/17350180/harley-davidson-tax-buyback-kansas-city-factory

"[Just recently,] 800 workers at a Harley-Davidson factory were told they would lose their jobs when the plant closed its doors and shifted operations to a facility in York, Pennsylvania — a net loss of 350 jobs. Workers and union representatives say they didn’t see it coming. Just days later, the company announced a dividend increase and a stock buyback plan to repurchase 15 million of its shares, valued at about $696 million. It’s a pattern that’s played out over and over since the tax cuts passed — companies profit, shareholders reap the benefits, and workers get left out."

This is the pattern that some of us have been warning you about right here on OPP. I've said numerous times that the tax cuts will go the way of Reagan's trickle-down theory, where the trickle gets routed to investors and workers get little or nothing out of it... only much, much worse because the conditions are not the same as they were in the 80's.

Sure enough, corporate stock buybacks hit a record $178 billion in the first three months of 2018; average hourly earnings for American workers are up 67 cents over the past year. You might point out that 67 cents is better than nothing but you would be wrong there too, because the same tax cuts that *might* claim *some* part of that 67 cent increase over the past year, is a mathematical guarantee that the government will get less funding (unless the "Laffer miracle" happens, which is highly unlikely) The odds are pretty high that anyone with a 67 cent increase in wages will end up having to spend more than that to compensate for cuts to programs like Medicare... In other words, average American workers will suffer a net loss... and that's BEFORE the temporary tax cuts for the working class expire.

That's right... After 2025, all individual tax cuts are set to expire. At the same time, corporate rate cuts are made permanent under the bill. Obviously, the individual tax cut was there to fool people into supporting a bill that ultimately gives it all to the wealthy.

Make no mistake... If you are a working class American like I am (any American that needs to work for a living) Trump is NOT your friend... he is your ENEMY!

son of witless

Interesting how many facts you left out of your posting. Like the fact that Harley Davidson is having a 4 year sales decline. Now I wonder why an honest poster such as yourself would leave out an important fact such as that ? Any company suffering such a sales decline might be forced into a consolidation of it's manufacturing capacity. I know that what you did was simply an over sight and I am sure it will not happen in the future.

http://www.usatoday.com/story/money/cars/2018/01/30/harley-davidson-kansas-city-plant-motorcycle-sales-fall/1078008001/

jack sequim wa Loc: Blanchard, Idaho

What happened to you? You now post liberal "SPUN" news that withholds the real truth.
I always respected your honesty even when we disagreed, but seems you hold company with leftist /Progressives, departing from the once democrat party to the pure wicked it has evolved.

Here's the truth

Global trade barriers and proximity to a growing base of new customers also play roles, complexities inherent in Mr. Trump’s ambition to overhaul trade policy.


Motorcycles made in the new factory — plans for which had not been previously disclosed — will be sold in Asia, not the United States, which its domestic plants will continue to serve, Harley-Davidson said.

“This is absolutely not about taking jobs out of the United States,” said Marc D. McAllister, a managing director of international sales at Harley-Davidson based in Singapore. “This is about growing our business in Asia.”

http://mobile.nytimes.com/2017/05/23/business/harley-davidson-thailand-factory-manufacturing.html

JFlorio Loc: Seminole Florida

He's always been a liar and a punk.

Radiance3

==============
Sec. of Treasury Manuchin has just announced that the Tax Cut of president Trump is getting very positive effects to our economy. GDP is now over 3% and is heading to 4%. Employment is in full gear, and everybody seems having their own jobs excepts those addicted to free loading. These are liberals/democrats/progressives, Obama's left overs whose jobs are complaining.

son of witless

The Harley-Davidson situation is not the result of President Trump's tax cuts. Whenever somebody posts something anti Trump it is always wise to independently check the facts. The private economy unlike the public sector is tough. Even in a good economy any company can fall on hard times because you must compete against other entities. Leftists have zero understanding of private enterprise.

boatbob2

Dure to the high import tax,on almost everything made in America,I don't foresee,HD,making big inroads on Japan,Their motorcycles are as good,or better that HD,and much cheaper to buy.

straightUp Loc: California

excuses, excuses... Bottom line is... Both Trump and Ryan addressed the HD employees directly and said the tax cuts will save their jobs and they didn't. Also, your pathetic excuse has no bearing on the bigger picture drawn by the numbers provided... You are obviously missing the point being made.

corporate stock buybacks hit a record $178 billion in the first three months of 2018; average hourly earnings for American workers are up 67 cents over the past year.

That's not just Harley-Davidson... That's the entire economy... Harley-Davidson is just an example of what's happening. The fact that stock buybacks hit an all-time high right after the tax cuts is significant as hell, and none of you weak-minded Trump droids have the courage to face the facts about this.

http://time.com/money/5267940/companies-spending-trump-tax-cuts-stock-buybacks/
http://money.cnn.com/2018/05/20/investing/stocks-week-ahead-buybacks-tax-cuts/index.html

son of witless

You are not an investor, are you ?

straightUp Loc: California

I don't think so jack.


Jack... there's not a lot of opinion in what I posted. The stock market is a public ledger. When a company buys it's own stock, it becomes public record that everyone can see. Shutting down factories and laying off 800 employees is not something people can just make up either. These are also a matter of public record. The only opinion I attached to these solid facts are my own and basically amounts to nothing more than saying "I told you so." I don't even know or care what the "leftist/Progressive" opinion on this is... I certainly don't need to subscribe to "party lines" when the facts are obvious enough for me to reach my own conclusions.


Plays a role in what, Jack? You're doing the same thing that witless just did... You're making excuses for the lost jobs, but you're not taking into account the stock buybacks. If lost jobs was all there was to the story, I wouldn't have a point to make. In fact, I KNOW there are other factors involved in closing down that factory, I'm not stupid. In fact, I was the one mentioning other factors when Trump was convincing you folks the tax cuts were going to save jobs. Those other factors didn't seem so important to you then. I guess they are now right? LOL

So again, despite whatever reasons there are for shutting down the factory and cutting 800 jobs, Trump's promise that the tax cuts would save their jobs didn't actually happen, did they?

Then there is the fact that despite whatever reasons there are for shutting down the factory and cutting 800 jobs, reasons that you and witless both attribute to lower earnings, the company was still able to buy back almost $700 million of it's shares... an indication that the company really isn't doing as bad as you and witless are trying to portray.

Stop making excuses Jack. This isn't about left vs right, so get out of that mindset for a minute if you can bear it. This is the concern of a white, working-class American who isn't being fooled by a plutocratic president.


None of that changes anything I've said.

straightUp Loc: California

I'm a typical working-class investor, which means I DO invest, but not enough to where I can live without earning wages. So what's your point?

straightUp Loc: California

Since you can't prove either, about the only thing you're doing here is expressing your frustration. Maybe if you could put up a real argument for once, you wouldn't have to resort to insults behind my back.

straightUp Loc: California

Of course he has... When has the Secretary of Treasury, ever contested the policies of his own boss?


The GDP has been climbing since 2010 when Obama turned the economy around... Unemployment has also been dropping throughout the Obama terms. If you're looking to give a NEW policy some credit, you need to look for NEW trends to match... not the same trends that have already been in motion. User your brain Radiance. I know you have one.


That statement doesn't even make enough sense for me to understand what you're trying to say.

straightUp Loc: California

I didn't say it was. Maybe you should actually read what I'm saying instead of just reacting to what you think I'm saying.


That's ALWAYS the wise thing to do witless, not just when the post is "anti-Trump", but when it's "anti-Obama" too. And please DO check the facts, this is the whole reason why I post things like this, to get people to look at the facts.


Says the guy who tries to blame the lost jobs on the "hard times" of a company that just bought $700 million of it's own shares. Witless, you just proved that YOU have zero understanding of private enterprise. LOL Sorry, but you can't hide real stupidity behind baseless stereotypes.

buffalo Loc: Texas

Excellent post, straightup. The trumpy droids are just unwilling to admit that the tax cut and jobs act is just more wealth transfer to the already wealthy with all the announced stock buy backs. "Trickle up", if you will, while much of the middle class and working poor are still struggling just to pay their bills and eat. Rising food and fuel costs, which aren't counted in the CPI, are the biggest culprit.

Anyway, good post.