General Motors CEO, Mary Barra announced that the U.S. auto giant plans to close 5 of their manufacturing plants in the U.S. and Canada, reduce their salaried work force by 15% (14,700 jobs) and cut cost by $6 billion dollars by 2020. President Trump's reaction was threatening to reduce GM's government subsidies which only congress can co. It was the usual huffing by an out of touch President. GM's CEO Barra also said Trump's tariffs has cost the company $1 billion.
This trio of corporate welfare, Trump, the republican party and GM, who along with other corporations sold the fraud bill of goods tax cut to America that was supposed to bring back jobs to America and build new manufacturing plants in America and the 14% corporate tax reduction would allow them to be competitive and do that. PolitiDose pointed out long ago many times over it was the same tax fraud passed by the administrations of Ronald Reagan and George W. Bush which gave the country the great Savings and Loan failure and the worst economic recession and job losses since the great depression.
Trump and the republicans fraudulent tax cuts and corporate Americas embrace of it demonstrated how the trio can not be trusted to tell the truth. Corporate America never gets enough tax breaks to satisfy their lust for money. Trump's reminding GM what America did for the company after the 2008 recession was a self serving statement to get people's mind off the tax cut lies and how cozy he and the republicans are with corporate America. And now the public is being fed the information that the nations trade deficit is at an all time high despite Trump's tariffs because of the strong dollar and Trump and the business community want to lower the value of the dollar.
It is interesting to note that no reporter at President Trump's news conference has asked the President when he planned to move his company's business that operates over seas back to the U.S. After all, his companies receive the 14% reduction in the corporate tax rates also.
