Saturday, November 4, 2017

Bill Crawford: Put spotlight on big business to create more jobs.

President Trump and Republican leaders in Congress should add one small thing to the tax reform bill to truly help make American great again.
In case you haven’t noticed, corporate earnings are driving the stock market to record highs. Across the board, earnings are up; earnings are strong.
 
When the corporate tax cut House Republican leaders revealed last week hits and knocks rates from 35% to 20% or so, earnings will go up even more. (Many think the market is up in anticipation of this earnings bump.)
 
Of course, one of the ways big business has maximized earnings, and thereby stock valuations, has been through employee layoffs and offshoring jobs to foreign countries. 
 
Major companies with big layoffs in 2017 included Microsoft, Wal-Mart, Nike, Lowe's, Union Pacific, Caterpillar, Hershey, Kellogg, State Farm, Oracle, Macy's, J.C. Penney, and more.
 
Major companies that rely on offshoring jobs include Apple, Wal-Mart, Nike, IBM, and Cisco.
 
Now, big business is licking its chops over a new way to dump jobs and pump up earnings.
 
"Wall Street’s robot revolution has begun," Bloomberg Businessweek reported in September. "JPMorgan Chase & Co. is rolling out a program called LOXM that executes equities trades so well, it’s replacing the humans who used to do that." The article added that Management consultant Opimas LLC predicts "90,000 people in asset management will be replaced by machines by 2025."
 
“The forces that trump all others are human capital and technology, man and machine, and we’re at an inflection point with them, in the midst of a structural change that will impact the labor market globally,” Vanguard’s chief economist Joe Davis said at Morningstar’s annual ETF conference last month. “The trend that will define our lives is how work changes for all of us. I can’t think of a more seminal issue that will face the economy in the years ahead.”
 
In reporting Davis’ comments, MarketWatch noted that the impact of automation and artificial intelligence (AI) could be massive, particularly as new technologies—such as driverless cars and “bot” programs that can mimic human speech patterns—mature and disrupt ever-larger segments of the economy. The article cited recent research claiming that every industrial robot takes up to six jobs, with some six million jobs at risk of being lost to automation over the coming decade.
 
"Tech is always moving faster and getting smarter,” said Davis. “Work has always been an arms race between education and technology, but the pace of change, and the scale of the change, are different this time.”
 
In October CBS Money Watch reported as many as 10 million U.S. jobs could disappear "as companies deploy machines that can learn and perform tasks." Jobs at risk included cooks, cleaners, movers, truckers, nurses, and retail sales.
 
Disappearing jobs, layoffs, and offshoring will not make America great again. More and better jobs will.
 
So, the simple thing President Trump and Republican leaders in Congress should add to the tax cut bill is this – require public corporations to announce their U.S. based job totals at the same time they announce earnings each quarter.
 
Put the spotlight on big business so Americans can easily see if the tax cut really does grow U.S. jobs, not just earnings. 
 
 
 
Crawford is syndicated columnist from Meridian (crawfolk@gmail.com)

16 comments:

Anonymous said...

After the smoke clears Bill knows that the proposed tax cuts will not create new jobs. It will not stop AI and Roboctis from replacing you. The current stock increases are a result of the anticipation of tax reform but in the end economic and job growth for the average Joe isn't in the cards. It's not going to be sitting president's fault either, it's always interesting when fault or credit is given to them. Economic issues are more complex and bigger than that.

Prove Me Wrong... said...

THIS JUST IN: Nobody, no company, other than government bureaucracy, is interested in 'growing jobs'. No company exists or is sustained by increasing the payroll numbers.

Anonymous said...

Amen 11:47 & 11:51

Anonymous said...

Then we shouldn't let Trump and other politicians lie that the tax cuts are about growth and jobs. Same goes for Tater.

Anonymous said...

Mississippi is due to get a taste of it real soon. Let's see how many jobs the tire plant actually brings in.

Anonymous said...

Every startup, including returning ex-patriot industries, will naturally 'create' or 'bring in' jobs. But, it takes a real fool to assume that increasing business profits will necessarily increase the payroll footprint of a business. Unless there are plans for expansion, new product lines, doubling production, etc, your 'job creation' bullshit is a pipe-dream. How could anybody think otherwise?

The real key to a growing economy, and Trump's leadership, is consistency in industrial output, no layoffs, no shutdowns, no downsizing, no reduction in hours (thus benefits disappearing), a return to 'things made in America' and regular paychecks for every family in this country. When those things are in the mix, all the dominoes will stand back up. And the way to make that happen, today, is in the reduction and elimination of government controls and constraints on businesses, particularly in the manufacturing segment of our economy. Government is such a large, cancerous octopus that the only way for industry to survive is to leave this country.

Pittpanther said...

How does reducing or eliminating the mortgage interest deduction help me?

Anonymous said...

Technology will eliminate an enormous number of jobs in the future including many high paying white collar jobs. Eliminating state and federal taxes will not slow down the speeding train that is coming.

Anonymous said...

Hey 4:42 this "tax reform" isn't intended to help you. Most folks will get a reduction because of the $300 per person tax credit. When that is phased out in 5 years you will probably be no better off than you are today and you will be paying more taxes.

Anonymous said...

Government is a cancerous growth? You turds, living off tax credits, farm subsidies, carried interest, state tax breaks, and reaping government benefits, such as SS, Medicare, etc, make a Christian want to vomit. Actual cancer patients and their families, families of Alzheimer patients, families of kids with chronic disease, are set to lose their medical expense deduction to pay for more corporate welfare. It's sick. It's the most unChristian thing one could plan. And you greedy, self serving turds who have delusions that the "GubMint" did not provide the very basis (stability, a justice system, economic sanity, fair trade, etc) for your subsidized "private sector" company slither out to pretend your pretty boy self was "self made." I'd punch you in the face if you said something so asinine in public. Leave the country to better people than you if you think it's so bad. Good luck making it on your own overseas. Sure they'd be impressed with your credentials and love your greed and delusions of grandeur.

Anonymous said...

I'd punch you in the face if you said something so asinine in public.

BRING IT.

Anonymous said...

6:00 - If you don't realize government is a cancerous animal growing out of control, you're either demented or a liberal. Sorry for that redundancy. The role of government is to create a national environment where people/companies can exist and prosper, gain wealth or go bust....without every single facet of the operation being crippled by government controls. You don't get that.

And your reference to Social Security being a 'government benefit' pretty much sums up your mentality.

Anonymous said...

Raising small business taxes to 35% and cutting corporate taxes to 20% won't create more jobs or keep jobs here or raise the wages overseas . The latter is why corporations leave.
We need laws to make moving jobs overseas painful like punitive personal income taxes on American corporate executives who live in this country. We need to make the failure to protect our technological secrets treasonous. These billionaires don't want to live in China or India.
If an American corporation's executives and boards as well as stockholders who own more than 25% has more overseas jobs than American jobs, it'd be fine with me for those individuals to lose their citizenship.

This is not the first time in economic history that the greed of a few has corrupted a country and had it result in crisis. It's not the first time monopolies have taken over a country. It's not the first time a few honorable men thought they could make a difference or didn't know what they didn't know, only what they wanted to believe. It's just the first time an entire population had the truth at their fingertips and chose to trust those who they should have known didn't have their best interests in mind.

Anonymous said...

"This is not the first time in economic history that the greed of a few has corrupted a country and had it result in crisis. It's not the first time monopolies have taken over a country. It's not the first time a few honorable men thought they could make a difference or didn't know what they didn't know, only what they wanted to believe."

Oh? Please enlighten us as to when the other times were.

Anonymous said...

Bill needs to check the records, Trump isn't even hiring American workers. You think anyone else is going to do it?

Anonymous said...

Trump's not 'hiring' anybody, 10:32. He's busy attempting to drain the swamp.

2016 Hottest Reporter Poll

Suscribe to latest on JJ.

Recent Comments

Search Jackson Jambalaya

Subscribe to JJ's Youtube channel

Who is the hottest reporter?

Archives

Who is the Hottest Reporter in Jackson?

Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
.