I am not sure what this bill does except attempt to shame large billion dollar corporations when they close their plants and lay off workers. These corporations are incapable of shame, which is why it is better to tax them mercilessly (instead of cutting their taxes last year). This bill creates a state mass layoff and plant closing notice requirement law that requires certain larger employers to provide their employees with adequate notice when they plan to go out of business, close a plant, or lay off a large number of employees.
This Act requires employers to also notify the Department of planned mass layoffs and plant closings, so the Department can provide dislocated workers with services to assist them in returning to work as soon as possible. This Act imposes greater notice requirements on employers than the federal Worker Adjustment and Retraining Notification Act (“WARN Act”). This Act authorizes the Department of Labor to investigate violations, conduct administrative hearings for employers who are alleged to have violated this Act, and pursue penalties for failure of an employer to comply with the notice requirements to its employees.
Add an additional 20% corporate tax into this bill and then we got something.
HB222(S) – Plant Closure Bill
STATUS – Waiting on a hearing in committee
HISTORY – Placed in House Labor 5/3/18
SPONSORS – Mulrooney, Marshall, Brady, Kowalko
YES –
NO –
ABSENT –
NOT VOTING –
Kind of worthless on a Delaware only basis as all the factories of note are long gone, the effect will be non existent.
It’s not just factories, affects larger banks, insurance companies, pharma, etc. It’s a good bill.
Do you think the taxes will just come out of thin air? Make them pay more taxes and they will a) invest less b) pay workers less c) charge consumers more.
Are any of a), b), or c) good for American workers?
“Do you think the taxes will just come out of thin air? Make them pay more taxes and they will a) invest less b) pay workers less c) charge consumers more.”
What an ignorant comment. Just look at what most corporations have done with their Trump tax windfall — bought back stock.
Your understanding of economics is pitiful. “They” will do all of the things you list in search of profits whatever their tax load. Or is it your contention that the post-war years, when American corporations were both heavily taxed and highly profitable, simply never happened?
They happened because most of the rest of the industrialized world was recovering from World War II. The economies and much of the infrastructure of Russia, Germany, Japan and Italy were devastated. The British economy was readjusting to the post colonial era and trying to unwind two World Wars worth of debt.
The high corporate taxes were a result of the success of the American economy, not the cause of it. Companies didn’t mind paying them because there was very little competition from abroad and domestic competitors were paying at the same level.
And the revisionist history starts. Thanks, Alby!
They all read from the same playbook…er, pamphlet.
The actual reason rates were high in the ’50s involved debts incurred by WW II and the Korean War. Remember, since the end of WW II the US “defense” budget has included defense not just of the US and its overseas possessions but Germany and Japan as well, since the Allies insisted on demilitarization of those two countries, and was rebuilding western Europe through the Marshall Plan besides.
The ahistorical nonsense that we raised taxes because corporations didn’t have any competition is laughable. If taxes were based on corporate profitability, we should be raising them, not lowering them, as corporations as a group have routinely posted record profitability over the past decade.
Conservatives like End of the Alphabet think they’re smart because their lips don’t move when they read.
You sound like you’re in the sauce already, so I’ll speak slowly.
You asked “is it your contention that the post-war years, when American corporations were both heavily taxed and highly profitable, simply never happened?”.
I was explaining the reason why American corporations were so highly profitable in the 1950’s and 1960’s, despite very high corporate tax rates relative to the rest of the world. You did not ask why tax rates were high. Your explanation of paying off the debt from WWII and the Korean War, and the Marshall Plan is certainly a reasonable one, although I am willing to bet the costs of the Marshall Plan and the Korean War were pretty small relative to US GDP at the time.
What do you think the optimal corporate tax rate is?
We just saw big news this week about how the DoL does not have the staff to do basic labor enforcement — not enough people to investigate complaints of non-compliance with labor rules and laws, not enough people to monitor compliance with prevailing wage. So while I support an activist DoL ramping up to support a wave of dis[laced workers, this bill means NOTHING without the funds to make that happen.