During CNBC’s “Closing Bell” economist Jimmy Pethokoukis called Trump’s speech about Carrier “absolutely chilling.”
The deal with United Technologies includes $7 million in incentives provided by Indiana. This means everyone in Indiana just paid $1 so that 800 people could keep their jobs.
Robert Shapiro had this to say during “Power Lunch” and it is spot on with what is wrong with this deal
"We certainly don't want to take as our guide to creating jobs special tax breaks for a company that earned $7.5 billion in profits last year, got $6 billion in defense contracts, paid its top five executives $50 million, in order to preserve 1,000 out of 2,100 jobs," said Shapiro.
"It's essentially a transfer from the taxpayers of Indiana, who are providing these tax breaks, to the shareholders of United Technology plus those 1,000 workers. That's really not a model for creating jobs across America," he added.
With profits like this, what was forcing their move to Mexico?