This was before COVID-19. After Wall Street received huge amounts of tax cuts and even refunds for taxes paid in 2017, they downsized. The cash provided for change, not new jobs.
Give me a break. How many CEOs looked at the Trump Tax Cuts and said, "Oh, joy, there is going to be more jobs created with the expansion of the business." WRONG! Wall Street always CUTS costs. Labor is costs and one that Wall Street doesn't like.
The Trump Tax Cuts hurt this country as companies downsized their labor force and instituted more computer and mechanized production of their products.
A seven percent tax increase on corporations in the USA will mean they will actually pay into the US Treasury and not have a ZERO TAX RATE. Honestly!
In 2017, (click here) total nonfarm payroll employment as measured by the Current Employment Statistics (CES) survey rose by 2.2 million, or 1.5 percent, slightly slowing its advance from 2016. Job growth accelerated in goods-producing industries, while growth in most service-providing industries decelerated.
The employment gains in 2017 occurred while many economic indicators of the U.S. economy signaled strength. However, there were still some headwinds resulting from a tight labor market and two major hurricanes. The slight easing of job growth also occurred in the fourth year of the current employment expansion, which is now longer than the expansion from January 2005 to January 2008. This article provides an overview of these labor market developments....
Moscow Mitch always talks about the coal industry. Yes? It is his big claim that Republicans protect those coal companies. WRONG! Moscow Mitch is not a protection for any industry. His vote for the Trump Tax Cuts increased mechanization of industry, not jobs.
Stop the political rhetoric by Moscow Mitch and know the facts. Tell a friend, they are not the friends of the American people.
January 25, 2017
By Dayashree Saha and Sifan Liu
President Trump has made empty promises (click here) to make the coal industry great again, vowing to reverse decades of the industry’s downward employment trajectory. In previous blog posts, we have shown how his promises to put coal miners back to work will be a tall order. Here, we introduce another reason why coal will face an uphill battle: automation.
The problem facing the coal industry is not unique: Automation is rapidly reducing employment in mining and manufacturing. Across a wide range of industries, from car manufacturing to computing, robots or artificial intelligence are increasingly taking over roles traditionally performed by humans. The same is true for coal mining....
