Thursday, December 1, 2016

Trump's Carrier intervention isn't just chilling, it's a crock of corporate welfare and perhaps explicit fascism

Jimmy Pethokoukis, on whom I have been very hard in the past, is certainly right about this one, calling the implicit intimidation in this affair "chilling", here.

But it's a lot more than chilling, it's at the very least more of the same cooperation between government and industry we have seen for decades but which used to go by the name of fascism, except it's more explicit than we're used to coming as it does from someone like Donald Trump, perhaps veering off now into explicit top-down federal intervention into business decisions.  

"We certainly don't want to take as our guide to creating jobs special tax breaks for a company that earned $7.5 billion in profits last year, got $6 billion in defense contracts, paid its top five executives $50 million, in order to preserve 1,000 out of 2,100 jobs," said [Robert] Shapiro, [former undersecretary of commerce]. "It's essentially a transfer from the taxpayers of Indiana, who are providing these tax breaks, to the shareholders of United Technology plus those 1,000 workers. That's really not a model for creating jobs across America," he added.