Trump's Push to Bring Back Jobs to U.S. Shows Limited Results

[riversedge]

This discussion thread was locked as off-topic by Omaha Steve (a host of the Latest Breaking News forum).

Source: nytimes




Jim Tankersley 6 hrs ago


WASHINGTON — From tax cuts to relaxed regulations to tariffs, each of President Trump’s economic initiatives is based on a promise: to set off a wave of investment and bring back jobs that the president says the United States has lost to foreign countries.
Donald Trump wearing a suit and tie: The nonprofit Reshoring Initiative found fewer than 30,000 jobs that companies said they would relocate to the United States because of President Trump’s tariffs.© Anna Moneymaker/The New York Times The nonprofit Reshoring Initiative found fewer than 30,000 jobs that companies said they would relocate to the United States because of President Trump’s tariffs.

“We have the greatest companies anywhere in the world,” Mr. Trump said at the White House recently. “They’re all coming back now. They’re coming back to the United States.”

Mr. Trump’s tax cuts unquestionably stimulated the American economy in 2018, helping to push economic growth to 2.5 percent for the year and fueling an increase in manufacturing jobs. But statistics from the government and other sources do not support Mr. Trump’s claim about his policies’ effectiveness in drawing investment and jobs from abroad.

Foreign investment in the United States grew at a slower annual pace in the first two years of Mr. Trump’s tenure than during Barack Obama’s presidency, according to Commerce Department data released in July. Growth in business investment from all sources, foreign and domestic, accelerated briefly after Mr. Trump signed a $1.5 trillion tax-cut package in late 2017 but then slowed. Investment growth turned negative this spring, providing a drag on economic output.



In Mr. Trump’s first two years in office, companies announced plans to relocate just under 145,000 factory jobs to the United States, according to data and modeling by the Reshoring Initiative, a Washington nonprofit group. That is a record high in the group’s data, which dates back to the late 1980s, but it adds up to less than one month of average job gains in the United States in its decade-long expansion. More than half of those jobs — about 82,000 — were announced in 2017, before Mr. Trump’s tax cuts took effect.

Related video: Trump Tax Cut Has Created Long-Term Fiscal Problem (provided by Bloomberg)

Read more: https://www.msn.com/en-us/news/other/trumps-push-to-bring-back-jobs-to-us-shows-limited-results/ar-AAFK1U5

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This is really a rather scary article in that What does it mean for our long term economy.

[lagomorph777]

1. "Mr. Trump's tax cuts unquestionably stimulated the American economy" - BULLSHIT

Trump's billionaire tax cut stimulated some billionaires' dicks.

The rest of us got dicked.

[Midnightwalk]

2. Exactly what I thought

2.5% was in line with previous years. Not the 5% promised by Trump.

BTW, pundits will say that was 3% but that’s what his advisors said in the background. Trump promised 5 and that was what was projected to be needed to cover the cost.

As you say, touting 2.5% is pure bullshit. They got the money we got the bill.

[William Seger]

4. It did a little, because of the small middle-class cuts

The middle class mostly spent their cut rather than contribute to the stock market bubble.

[sdfernando]

5. THIS

That is exactly what I was thinking when I saw that LIE!

[Wellstone ruled]

3. All those Tax Cuts went into

Bonus's and Stock Buybacks which in turn forced a 2.5% inflationary effect on the US GDP. Our country will automatically produce internal new jobs just by new innovation and Consumer Products. After all,we are a consumer based economy. Reagan and his Bud's killed off most of the Regional Manufacturing with their Tax Breaks for exporting their Jobs.

[IronLionZion]

6. He's presiding over heavy losses in retail jobs

and hasn't brought back many coal mining or factory jobs. And he's been screwing farmers with his trade war.

I bet foreign countries have been finding better investments elsewhere. Trump's plan has always been to make America a shithole country.

[bucolic_frolic]

7. Ferners

ain't gonna wanna buy junk made in 'Murrika

[cstanleytech]

8. No shit!! I said that the tax cut would fail precisely because

it failed to include an incentive to companies to earn it.

[PSPS]

9. Yet another horrible headline and story from the "what is a context?" NYT.

[NickB79]

11. We're at full employment

You want more jobs, you need more workers. Trump's war on immigrants is fucking the US economy.

[Mc Mike]

12. Well there's his success with Carrier. Er, FoxConn. Uh, I mean Harley Davidson.

Er, ...

[Omaha Steve]

13. After a review by forum hosts....LOCKING

Analysis.