Drudge Retort: The Other Side of the News
Thursday, December 07, 2017

The number of U.S. jobs eliminated due to foreign competition since President Trump's election last year has largely kept pace with previous years, according to a new report. An analysis of Labor Department data by the labor coalition Good Jobs Nation found that more than 93,000 U.S. jobs have been eliminated since Trump's election due to foreign trade. That's roughly on par with the previous five years, which saw an average of 87,500 jobs per year eliminated.

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The coalition's analysis also found that the number of jobs outsourced by federal contractors has actually risen since Trump was elected. Since November 2016, some of the biggest federal contractors have offshored some 10,269 jobs, making up 11 percent of trade-related layoffs, compared to 4 percent in the previous five years.

Workers who lose their jobs due to foreign trade are eligible for Trade Adjustment Assistance (TAA), a program that allows them to receive benefits such as subsidized health insurance and extended unemployment benefits.

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These 93,000 people are truly winners.

#1 | Posted by Zed at 2017-12-07 11:15 AM | Reply | Funny: 1

Is that your version of support for the tax overhaul's lowering corporate tax rates here, Zed? This seems to be one of the few campaign promises that you can say Trump is actively working towards upholding. Successful re-negotiation of NAFTA and lowering of the corp. rates should work to pull back that number in the coming years.

#2 | Posted by Avigdore at 2017-12-07 11:34 AM | Reply

Baloney. CEO's have already declared that the tax windfall will be used to buy back shares and pay dividends and will not be used to raise salaries or invest in America.

#3 | Posted by 726 at 2017-12-07 11:37 AM | Reply | Newsworthy 9

Lowering corporate tax rates is unlikely to reduce offshoring. Allowing companies to deduct a portion of employee taxes would. That would incentivize job creation.

#4 | Posted by bored at 2017-12-07 11:40 AM | Reply | Newsworthy 1

Let's see.... a corporation could pay a person $500 per week (which btw is deductible for income taxes) or they could pay a person overseas $500 per year and then the CEO could pay themselves the other $25,500 x the thousands of employees a large multinational corporation would employ.

What do you think they would do?

#5 | Posted by 726 at 2017-12-07 11:50 AM | Reply | Newsworthy 1

Allowing companies to deduct a portion of employee taxes would.

Companies already deduct them either the company share of FICA, Unemployment, etc or from the gross wages of the employees which is used to pay the withholding.

I have never had a company hire anyone without the need for employees. Making the poor and middle class pay more in taxes is a sure way to take money out of the economy and dry up demand.

#6 | Posted by 726 at 2017-12-07 11:52 AM | Reply | Newsworthy 8

In those 93,000 jobs are people from Carrier plant in Indiana where Trumplestiltskin had his major photo op giving the company welfare to save the jobs. More and more are getting fired from there every month.

money.cnn.com

" Thursday marks the last day for more than 300 Carrier employees whose jobs have been eliminated in favor of outsourcing to Mexico.

It's the first round of cuts at the plant, which last year epitomized the working-class grievances that Trump swore to fix.

Four salaried employees will be laid off in September, and another 290 jobs will be eliminated in late December, three days before the Christmas holiday, according to records filed by Carrier with the state of Indiana.

"Here's what's going to happen," Trump told a crowd in Indianapolis in April 2016. "I'll get a call from the head of Carrier and he'll say, 'Mr. President, we've decided to stay in the United States.' That's what's going to happen -- 100%." "

Trump is all talk and no results. Just like all his life. Sad that so many suckers fell for his --------.

#7 | Posted by 726 at 2017-12-07 11:57 AM | Reply

Ford is moving electric car production to Mexico now.

#8 | Posted by sitzkrieg at 2017-12-07 12:02 PM | Reply

"lowering of the corp. rates should work to pull back that number in the coming years."

Why? The new tax bill makes it less advantageous to reinvest, retrain, or increase wages.

Why would disincentivizing something encourage it?

#9 | Posted by Danforth at 2017-12-07 12:10 PM | Reply | Newsworthy 4

Because the GOP said so.

#10 | Posted by 726 at 2017-12-07 12:41 PM | Reply

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With a simplified tax code accounting and finance workers will have to learn useful skills in order to join the productive economy. I suggest food or cleaning services. Moving beans from one pocket to another to avoid taxes doesn't add value.

#11 | Posted by visitor_ at 2017-12-07 12:44 PM | Reply

Is that your version of support for the tax overhaul's lowering corporate tax rates here, Zed?

#2 | Posted by Avigdore

No, it's me openly mocking Donald Trump and all his dishonest pretensions again.

#12 | Posted by Zed at 2017-12-07 12:47 PM | Reply

If we use Republican math that's a net gain in jobs. Winning!

#13 | Posted by IndianaJones at 2017-12-07 12:47 PM | Reply

"With a simplified tax code accounting and finance workers will have to learn useful skills "

How stupid can you be? This is the Tax Preparers Full Employment Act of 2018.

This simplifies nothing for my clients and me; they still need to keep the same records and I still need to do the same breakdowns. The only difference is the portion of their expenses attributable to W-2 income will no longer be deductible.

Same work, for less of a reward.

#14 | Posted by Danforth at 2017-12-07 12:51 PM | Reply

How stupid can you be? This is the Tax Preparers Full Employment Act of 2018."

It's possible my daughter will go to law school with an undergrad in accounting.

a tax lawyer....complicated tax code is good for business.

#15 | Posted by eberly at 2017-12-07 01:00 PM | Reply

Moving beans from one pocket to another to avoid taxes doesn't add value.

#11 | Posted by visitor_

Like bankers, hedge fund managers, stock brokers, securities analysts, money managers, and investment bankers, etc?

#16 | Posted by donnerboy at 2017-12-07 01:29 PM | Reply

Danforth, I am hopeful that the simplification of the tax code will make much of the expense tracking unnecessary. I am also hopeful that is an actual simplification instead of a bait and switch boondoggle.

Donner, I think that those professions add value, but they probably are overvalued in our system. They will be replaced by computers at some point. That is purely an uniformed opinion. There are many here that are better placed to give an informed opinion.

#17 | Posted by visitor_ at 2017-12-07 01:52 PM | Reply | Funny: 2

"Danforth, I am hopeful"

Hope and Change!

#18 | Posted by snoofy at 2017-12-07 02:07 PM | Reply

"The coalition's analysis also found that the number of jobs outsourced by federal contractors has actually risen since Trump was elected."

It's easier to launder money when you move it offshore.

Laundering money is pretty much the only business Trump understands.

#19 | Posted by snoofy at 2017-12-07 02:12 PM | Reply | Newsworthy 1

"It's possible my daughter will go to law school with an undergrad in accounting."

I am kinda surprised accounting is a degree program. Seems like a lot of coursework to get past the CPA exam. But I'm sure there's more to it than that.

Anyway, good for her, we keep concentrating wealth upwards, some of it should end up hers with those top tier skills. Though I also somewhat agree that being a bookkeeper doesn't actually produce anything, it's a necessary function to produce anything, sorta like sales.

#20 | Posted by snoofy at 2017-12-07 02:19 PM | Reply

"I am hopeful that the simplification of the tax code will make much of the expense tracking unnecessary."

Well, if you know at the beginning of the year you will ONLY have W-2 income, yes, your recordkeeping just got easier...in return for all of your deductions becoming worthless.

But who knows what kind of income the year will bring at the beginning of the year? Almost all of my clients will have to keep nearly the exact same records, only to find out at the end of the year if they've wasted their time or not.

As it will stand, all they'll get for their efforts is a disallowance of any expenses connected to W2 income.

Imagine the reaction my concertmaster--paid on a W-2-- will have when he finds out his $220K violin isn't deductible anymore.

#21 | Posted by Danforth at 2017-12-07 02:32 PM | Reply

Next time call it a fiddle and pay about $500.

#22 | Posted by visitor_ at 2017-12-07 03:03 PM | Reply

Is that your version of support for the tax overhaul's lowering corporate tax rates here, Zed? This seems to be one of the few campaign promises that you can say Trump is actively working towards upholding. Successful re-negotiation of NAFTA and lowering of the corp. rates should work to pull back that number in the coming years.

#2 | POSTED BY AVIGDORE

Really? Because the CEOs interviewed by the White House said that's not true in the slightest. But I'm sure you know better than them.

#23 | Posted by Sycophant at 2017-12-08 12:50 AM | Reply | Newsworthy 1

What's amazing to me is how many times people keep falling for the same trickle down scam ~ over and over again. I wonder what they think they're going to do with those pennies on the dollar. We know that corporations are going to do with their share.

Seriously, I'm waiting for Trump to start talking about "a thousand points of light" again (shades of H.W. Bush).

#24 | Posted by Twinpac at 2017-12-08 05:57 AM | Reply

"Next time call it a fiddle and pay about $500."

Thanks for admitting you don't understand the issue at hand.

#25 | Posted by Danforth at 2017-12-08 07:30 AM | Reply | Newsworthy 1

More jobs were added in November than economists anticipated while unemployment remained unchanged, according to the Washington Post.
What did the report find?

The Bureau of Labor Statistics announced Friday that the economy added 228,000 jobs in November while unemployment remained at 4.1 percent.

#26 | Posted by Sniper at 2017-12-08 11:59 AM | Reply

The Bureau of Labor Statistics announced Friday that the economy added 228,000 jobs in November while unemployment remained at 4.1 percent.

#26 | POSTED BY SNIPER

Well since Trump hasn't passed a piece of major legislation affecting the economy yet.... Thank you Obama!

#27 | Posted by Sycophant at 2017-12-08 12:08 PM | Reply | Newsworthy 1

I understand perfectly: A high-brow fiddle player wants me to subsidize his choice of musical instrument with a tax deduction.

#28 | Posted by visitor_ at 2017-12-08 12:09 PM | Reply

#27 | POSTED BY SYCOPHANT AT 2017-12-08 12:08 PM | FLAG: Can you cite what policies, rules and regulations the obama administration did to 'improve' the economy after he departed?

#29 | Posted by MSgt at 2017-12-08 01:50 PM | Reply

Well since Trump hasn't passed a piece of major legislation affecting the economy yet.... Thank you Obama!

#27 | Posted by Sycophant

Rightttttttttttttttttttt.

#30 | Posted by Sniper at 2017-12-08 04:35 PM | Reply

Hope and Change!

#18 | Posted by snoofy

That is what o'bummer ran on. Hope and the change didn't come except for a much bigger government and double the national debt.

#31 | Posted by Sniper at 2017-12-09 12:37 PM | Reply

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