Just considering Toyota: they have 11 UAW manufacturing plants in the US. Toyota still pays taxes in America, it's employees too. Its stock is traded in the US, and is no doubt owned by individual retail accounts and mutual funds.
Loc: Pinellas Park, Florida
So, none of the people who are employed here contribute to the economy? And, yes, these companies do pay taxes here since many are incorporated under American ownership which then contracts to manufacture and distribute those products.
Honda of America Mfg has 5 plants in Ohio. Hyundai of America employs about 3000 at its AL plant.
How many American jobs at those plants and all jobs connected by parts and sales, R&D and whatever.
How many tens/hundreds-of thousands of families are collecting a salary through these jobs? How much of that money finds it's way through all markets in our economy?
C4C was implemented as part of the stimulus package. It was about keeping jobs and the automotive market alive. Over 700,000 claims were made by end of day Monday proves it worked because 700,000 new cars were sold by American car dealerships, creating new demand for new inventory ... creating and saving American jobs.
If big tax breaks were given to build these plants (links??) then it just might have been a bigger cost benefit to the state to build a plant and employ thousands of Americans in high paying jobs (with health benefits).
Originally Posted By: carp
But Toyota is still foreign owned so the profits go back to the mother land Japan , enough said
Toyota Manufacturing pays US taxes. Hyundai Manufacturing pays US taxes.
And how much of American corporate profits go to the Cayman banks and no taxes are paid at all ... and that's legal and good ol' all-American capitalism.
Well I heard on another program its about 70% foreign and 30% domestic, BUT 50% of the foreign were assembled here so the total domestic impact is about 2/3rds.
Also heard the #1 clunker trade-in was a Ford Explorer !
WTGo Ford !
Question about Gary's map... if we still manufacture cars here (incl foreign cars), why not other products ?? ie Why have all those left but cars stayed ? Labor is cheaper overseas ! (just pointing out the inconsistency)
So, none of the people who are employed here contribute to the economy?
Show me where I said that ?
They operated under a budget , the parent company still siphons off the profits . In short they make 1 .5 billion the plant cost 500 mill to operate , Feds say you must show 10% profit , parent company leverages their tax deductions against the 10% . Parent sends the profits back to pay share holders , bonuses , reinvest yada yada , 500 million is put back in the plant for next years budget
incorporated under American ownership - That is the means to do business in the US , in short to have a facility in the US a partner must be american - has nothing to do with profits and what country it goes too - Keep in mind that the States gave huge tax incentives almost gave away the farm
Think about it; Before they built any plants in the US - A "dealership" incorporated under American ownership or LLC or whatever bought cars directly from Japan and shipped them in .
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