Latest
Recommended
Published: Sun, December 04, 2016
Economy | By Melissa Porter

Palin calls Carrier deal 'crony capitalism'

Palin calls Carrier deal 'crony capitalism'

Writing an opinion piece for the Young Conservatives website Friday, Palin blasted the deal as "favoring one business over others" and setting "inconsistent, unfair, illogical precedent".

Fresh off a deal with air-conditioning company Carrier, President-elect Donald Trump is now singling out another company leaving its in plant for Mexico: Rexnord, which plans to nix 300 union jobs from their factory in Indianapolis.

While the announcement was wonderful news for the families of those 1,100 employees, Carrier sent a letter to its workforce announcing some not-so-wonderful news for others. "Because we know special interest crony capitalism is one big fail". According to Fortune, those "incentives" include $7 million a year in tax incentives (paid for an unknown period of time).

Ms Palin added: "Republicans oppose this, remember?"

Meanwhile, Carrier sent a letter to workers raving about how "the incoming Trump-Pence administration has emphasized to us its commitment to support the business community and create an improved, more competitive USA business climate".

Palin also said that selectively choosing favourite companies that will receive "corporate welfare" is a "hallmark of corruption socialism".

Former U.S. Vice presidential candidate and Alaska Governor Sarah Palin (R), and Donald Trump walk towards a limo after leaving Trump Tower, at 56th Street and 5th Avenue, on May 31, 2011 in New York City. Palin implied that the Solyndra deal, with all of its ramifications, is very similar to the deal with Carrier that Trump claims he brokered all on his own.

Palin was a stern defender of Trump throughout the GOP primary and his campaign, but in her op-ed she joins the chorus of skeptics calling for Trump and his team to make full details of the Carrier deal public.

Through a series of tax cuts and under the table dealing, Trump was able to retain around 1,000 jobs in the US that Carrier had previously said were being exported.

"However well meaning", she writes, "burdensome federal government imposition is never the solution". "Never. Not in our homes, not in our schools, not in churches, not in businesses", she wrote. "Political intrusion, using a stick or carrot to bribe or force one individual business to do what politicians insist, versus establishing policy incentivizing our ENTIRE [sic] ethical economic engine to roar back to life, isn't the answer", she wrote.

Like this: