Re: Harley Davidson closing its factories and shipping its jobs overseas. Shame
Posted by:
Trump Freebies
()
Date: May 22, 2018 09:49PM
Recent evidence suggests that workers aren't getting much benefit from 2017's corporate tax cuts, and Harley-Davidson (HOG) looks like a prime example of employees getting left out in the cold.
The Republican tax law slashed the corporate rate to 21 percent from 35 percent, leading proponents to contend companies would use the windfall to increase their investments in labor or business expansions. That playbook isn't panning out so far.
After getting its taxes lowered, Harley-Davidson has announced a plant closing with the loss of 800 jobs, and it's buying back hundreds of millions of dollars worth of its outstanding shares.
By Vox's telling, the Wisconsin motorcycle manufacturer illustrates a pattern across Corporate America since tax cuts were enacted: Companies and shareholders profit, but workers see little gain.