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Trump Takes on General Motors (And Guess Who Wins?)

#1

Trump Takes on General Motors (And Guess Who Wins?)

Robert Reich

Donald Trump’s “America first” economic nationalism is finally crashing into the reality of America’s shareholder-first global capitalism.

Last week, General Motors announced it would cut about 14,000 jobs, most of them in the politically vital swing states of Michigan and Ohio.

#2

“Trump is furious, tweeting up a storm of threats against GM, including taking away its federal subsidies.” We should mention that the specific subsidies threatened are for GM’s electric cars. Trump’s motives for removing these subsidies ultimately benefit oil companies. We should also question “autonomous vehicles and ride-sharing technologies” as wasted effort. None of the claims about self-driving car tech are true.

#3

What the Trumpsters don’t understand is that the tax hand out was a freebie. Trump asked nothing of the oligarchs, corporations, or the super-rich to which he doled out billions. They made no pledges. They made no promises. They made no commitments. It was free money. They took it and did what they wanted with it which was mainly to buy back stock, fund private equity, pay themselves bonuses, and continue doing business as usual. So, for all of you MAGA hat wearers out there I say, “Thanks a lot suckers. You’ve been punked by your great leader.”

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#4

" Most Americans haven’t had a raise in decades, considering inflation."

And there you have it. In the 70’s and 80’s we were told you will get raises based in an increase in productivity. Ya, right. Look up the increase in productivity by American workers since 1973 vs the increase in wages. 1973-2013: Productivity up 74.4%… Wages up 9.2%.

The rest went to the top 1% or even top 0.1%… the Same ones that Trumpublicans just rewarded with a massive 1.5 TRILLION DOLLAR TAX CUT!