Jobs in Indiana

Jim Cramer, CNBC “guru” and sometime sage, has been on a post-election rant of euphoria.  Claiming to be apolitical and nonpartisan, but suspected to be Democratic (large “D”) leaning, Cramer reports the prospects of the upcoming reduction in regulation, favorable approach to fossil fuels and change allowing the repatriation of vast amounts of corporate profits now held overseas, lower tax rates for corporations and repeal of some or all of Dodd Frank Law (which includes the Consumer Protection Bureau and oversight on lending policies of big banks).  Not to mention Trump’s desire for more oil pipelines.

The prospective Presidential cabinet and staff is loaded with millionaires and billionaires and graduates of Goldman Sachs.

There is some debate about the forthcoming position on income taxes, with Trump pledging a big reduction in upper income taxes while the Treasury Secretary nominee claims any reduction in upper income taxes will be offset by reductions in allowable itemized deductions.

Meanwhile, the prospective Secretary of H&HS has been vocal about repealing the Affordable Care Act and Medicare and Medicaid hang in the balance.  Now there is something that will seriously damage the middle class AND potentially increase the charity bill for hospital emergency rooms.

And, today, Trump will take a falsely called “victory” lap, for saving 1,000 jobs at the Carrier plant in Indiana.  What no one is talking about is the “deal” that made it possible – some sort of government subsidy from Indiana – the Indiana governor is still vice President-elect Mike Pence.  So government funding is keeping these jobs in Indiana.  Think about the future prospects – a corporation can threaten to send jobs overseas and the “deal” will be government subsidy to keep them here?  Where is the Republican promoted free marketplace?  What about the competitors who don’t get the government subsidy?   This is a dreadful precedent.  I think of George W Bush’s proclamation of victory in Iraq – remember that big publicity stunt on the aircraft carrier?  Here we go again.

One thousand jobs saved in Indiana with government subsidy is just another sign of the phoney bait and switch game of mirrors designed to sucker the average American.