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Step 1: Pay No Taxes, Step 2: Lay off Thousands of Workers...

Winston

Winston

Give me convenience or give me death
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IBM Paid $0 In Taxes Thanks To Trump Tax Cuts. Now It’s Laying Off 1,700 Employees.

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IBM Paid $0 In Taxes Thanks To Trump Tax Cuts. Now It’s Laying Off 1,700 Employees.

IBM announced that it is laying off 1,700 employees despite its stock value increasing 16% this year.

Add in the fact that the company paid $0 in taxes last year thanks to the Trump tax cuts, and it becomes ever clearer that companies are hoarding their new wealth rather than having it “trickle down” to works.
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Stories like this poke glaring holes into the GOP narrative that "this is the best economy we've seen in 30 years." etc. It certainly doesn't feel like it for ordinary people. Check that out, IBM's stock increased 16% this year, and it lays off 1,700 employees. That's why celebrating gains in the stock market is so out of touch. Celebrating those gains is celebrating the gains of hedge fund managers and stockbrokers, woo hoo! Finally, Wall St. gets a break.

Democrats offered the Republicans an amendment that would have sunsetted the tax cuts if corporations failed to create jobs, Republicans turned it down, because not even they believe their bull****. Trickle down fails again.
 
Winston said:
IBM Paid $0 In Taxes Thanks To Trump Tax Cuts. Now It’s Laying Off 1,700 Employees.

dtrm-730x386.jpg


IBM Paid $0 In Taxes Thanks To Trump Tax Cuts. Now It’s Laying Off 1,700 Employees.



Stories like this poke glaring holes into the GOP narrative that "this is the best economy we've seen in 30 years." etc. It certainly doesn't feel like it for ordinary people. Check that out, IBM's stock increased 16% this year, and it lays off 1,700 employees. That's why celebrating gains in the stock market is so out of touch. Celebrating those gains is celebrating the gains of hedge fund managers and stockbrokers, woo hoo! Finally, Wall St. gets a break.

Democrats offered the Republicans an amendment that would have sunsetted the tax cuts if corporations failed to create jobs, Republicans turned it down, because not even they believe their bull****. Trickle down fails again.
Click to expand...

What stones! “Creepy Joe,” indeed!
 
Technically 1.7k isn't "thousands", because that would imply some amount over 2.0k
 
The Mark said:
Technically 1.7k isn't "thousands", because that would imply some amount over 2.0k
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They laid off workers in 2016 and 2017 too.
 
Winston said:
IBM Paid $0 In Taxes Thanks To Trump Tax Cuts. Now It’s Laying Off 1,700 Employees.

dtrm-730x386.jpg


IBM Paid $0 In Taxes Thanks To Trump Tax Cuts. Now It’s Laying Off 1,700 Employees.



Stories like this poke glaring holes into the GOP narrative that "this is the best economy we've seen in 30 years." etc. It certainly doesn't feel like it for ordinary people. Check that out, IBM's stock increased 16% this year, and it lays off 1,700 employees. That's why celebrating gains in the stock market is so out of touch. Celebrating those gains is celebrating the gains of hedge fund managers and stockbrokers, woo hoo! Finally, Wall St. gets a break.

Democrats offered the Republicans an amendment that would have sunsetted the tax cuts if corporations failed to create jobs, Republicans turned it down, because not even they believe their bull****. Trickle down fails again.
Click to expand...

From the Yahoo link embedded in the original article....


IBM has secured a number of subsidies over the years from state and local governments that ring to the tune of $1.4 billion.

The company also has in its pocket federal loans, loan guarantees and bailout assistance at around $5.4 billion. Again, New York gave IBM the most money over the years.

The company came under fire in 2014 after it was reported that it had parked some of its earnings in low-tax countries to boost profits.

After routing almost all its sales in Europe, Middle East, Africa, Asia and some of the Americas through its Netherlands unit, it gradually reduced its tax rate over 20 years — at the same time pretax income quadrupled.







Hmmmm. Nowhere there do I see "Trump".
 
Fledermaus said:
From the Yahoo link embedded in the original article....


IBM has secured a number of subsidies over the years from state and local governments that ring to the tune of $1.4 billion.

The company also has in its pocket federal loans, loan guarantees and bailout assistance at around $5.4 billion. Again, New York gave IBM the most money over the years.

The company came under fire in 2014 after it was reported that it had parked some of its earnings in low-tax countries to boost profits.

After routing almost all its sales in Europe, Middle East, Africa, Asia and some of the Americas through its Netherlands unit, it gradually reduced its tax rate over 20 years — at the same time pretax income quadrupled.







Hmmmm. Nowhere there do I see "Trump".
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What does this information prove? You've just dumped info without a conclusion.
 
The Mark said:
Did they also pay no taxes in 2016 and 2017?
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Not sure. The link implies the American Tax Cuts and Jobs Act allowed them to pay no tax.
 
Fledermaus said:
The logical conclusion is that it wasn't the "Trump tax cuts".
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Sleazy corporations are gonna sleaze, which is why I don't know why you would support making it easier for them to sleaze.
 
IBM confirmed that a “small percentage of employees” who are not performing “at a competitive level” would be leaving the company. “We are continuing to re-position our team to align with our focus on the high value segments of the IT market – while aggressively hiring in critical new areas that deliver value for our clients and IBM," the company said in a statement.

IBM Job Cuts: About 2,000 Employees to Be Laid Off This Week - Bloomberg
 
Fledermaus said:
The link "implies" it. Correct. I can "imply" that IBM didn't pay taxes because of aliens.

If you dig deeper it appears other things are in play.
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I agree, it does look like they have received gargantuan payments in corporate welfare. That is kind of a red herring, though.

The point of the thread is that the GOP said the windfall corporations like IBM received would spur hiring. But, layoffs are coming down the pipeline. We got lied to.
 
Winston said:
I agree, it does look like they have received gargantuan payments in corporate welfare. That is kind of a red herring, though.

The point of the thread is that the GOP said the windfall corporations like IBM received would spur hiring. But, layoffs are coming down the pipeline. We got lied to.
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What "red herring"?

Layoffs happen. In bad times and good. Is a company required to retain non competitive employees?
 
Fledermaus said:
Layoffs happen. In bad times and good. Is a company required to retain non competitive employees?
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A corporation is free to do as they please, which is generally cut costs and maximize profit. Downsizing will be happening regardless of tax cuts, so don't be fooled into thinking there's a tax cut fairy.
 
Winston said:
A corporation is free to do as they please, which is generally cut costs and maximize profit. Downsizing will be happening regardless of tax cuts, so don't be fooled into thinking there's a tax cut fairy.
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The only one fooled was you by a fake news hit piece that was disingenuous at best.

Please show where I "supported" making tax evasion easier. Post number?
 
Fledermaus said:
The only one fooled was you by a fake news hit piece that was disingenuous at best.

Please show where I "supported" making tax evasion easier. Post number?
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Supporting the GOP is supporting making it easier for corporations to sleaze, less regulation, less tax, etc. Do you support the GOP?
 
Winston said:
IBM Paid $0 In Taxes Thanks To Trump Tax Cuts. Now It’s Laying Off 1,700 Employees.

dtrm-730x386.jpg


IBM Paid $0 In Taxes Thanks To Trump Tax Cuts. Now It’s Laying Off 1,700 Employees.

Stories like this poke glaring holes into the GOP narrative that "this is the best economy we've seen in 30 years." etc. It certainly doesn't feel like it for ordinary people. Check that out, IBM's stock increased 16% this year, and it lays off 1,700 employees. That's why celebrating gains in the stock market is so out of touch. Celebrating those gains is celebrating the gains of hedge fund managers and stockbrokers, woo hoo! Finally, Wall St. gets a break.

Democrats offered the Republicans an amendment that would have sunsetted the tax cuts if corporations failed to create jobs, Republicans turned it down, because not even they believe their bull****. Trickle down fails again.
Click to expand...

This story, your post, are filled to the brim with intentional misrepresentations.

IBM has more than 300K employees, and are looking to layoff roughly 1700 that are basically in already sunset in ages areas of their business offerings. They still have some 7000 something job openings *and* are still on an employment uptick regardless of these layoffs *and* they are still acquiring Red Hat for $34 billion.

Many companies have near zero or zero tax liability thanks to Trump's tax cuts but that does not mean they have to employ people the way politicians want them to. We have zero evidence IBM would cut more or less in absence of these Tax Cuts as the plans for these layoffs were announced years ago as part of their restructure.

Their stock valuation is based on many factors, further clouding your argument.

The whole outrage using this example is a big bucket of failure.
 
Winston said:
IBM Paid $0 In Taxes Thanks To Trump Tax Cuts. Now It’s Laying Off 1,700 Employees.

dtrm-730x386.jpg


IBM Paid $0 In Taxes Thanks To Trump Tax Cuts. Now It’s Laying Off 1,700 Employees.



Stories like this poke glaring holes into the GOP narrative that "this is the best economy we've seen in 30 years." etc. It certainly doesn't feel like it for ordinary people. Check that out, IBM's stock increased 16% this year, and it lays off 1,700 employees. That's why celebrating gains in the stock market is so out of touch. Celebrating those gains is celebrating the gains of hedge fund managers and stockbrokers, woo hoo! Finally, Wall St. gets a break.

Democrats offered the Republicans an amendment that would have sunsetted the tax cuts if corporations failed to create jobs, Republicans turned it down, because not even they believe their bull****. Trickle down fails again.
Click to expand...

A more fact based report is available here:

SEC Required filings and GAAP EPS details for the tax year being misrepresented.

IBM - Announcements
 
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