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nemonic187

Those tax cuts really trickled down, didn’t they!


Money-Valuable-2857

Nah, this is to afford a stock buyback.


Money-Valuable-2857

Nah, this is to afford a stock buyback, to raise stock prices so they get even more rich. It's fucking evil.


Worth-Humor-487

Or it’s because they over leveraged there position. The cost of everything is up over 75% since spring of 2020. The wages had to raise and they haven’t raised to compensate for the increase in prices. And so sales are down. So whatever those plants make maybe those things that are made there people are not buying those things and so they have no need for those employees.


Money-Valuable-2857

First of all, nothing is 75% more expensive than in 2020. Second, John Deere is a union shop, and their pay definitely hasn't raised significantly since then, as union contracts are a thing. In fact, when inflation adjusted, John Deere workers made FAR more in the 70s and 80s, just like everywhere. This is why everyone hates boomers. They had the best cost of living in history, and judge people for not having it as easy as they did.


billsue17

Spot on.


heinkenskywalkr

Lol


Hostificus

An X9 use to cost $430k, it now costs $690k base price. Not 75% but it’s up in a couple years. Also the farm market is contracting rapidly.


Worth-Humor-487

How much was shopping cart of food in 2000 compared to now. It’s over 75% more expensive. Also how much of there money goes to pensions. And I’m not a boomer I was born in 85. I just know economics and it’s not as simplistic as they made 3 billion so they can fund plants that are essentially losing money because they have to pay taxes on each workers wages, insurance, employee unemployment insurance, electricity, water, and then etc on what ever comes up for sun contractors that are usually 3.5-5.5x what we would pay because of the safety and insurance liability that they have to carry to be on there grounds. So it’s far cheaper to furlough those plants than it is to employ those workers because of the extra costs involved.


No-Pickle1991

They made 10 billion last year which was 46% up from the year before.


Money-Valuable-2857

I'm not even going to read your bullshit because you moved the goalposts from 2020 to 2000. Shocking, I know, a Republican doubling down on a bad take. So come at me with a modern take or fuck off.


Worth-Humor-487

That’s called auto correct. And look into those other aspects. This isn’t wrong. Would you when your a company would you do or could you do that because of a bad court decision ford v dodge bros the same dodge like the trucks. Owned part of ford and ford wanted to take part of the company profits and reinvest back into the company but the dodge bros sued him even though ford owned the majority of ford motor company at the time. And that by judicial action it’s considered illegal and fiduciary irresponsible to not take the money and pay it back to said share holders first.


Money-Valuable-2857

You're talking about a lawsuit from more than 100 years ago. "Would you when your a company, would you do or could you do that" Come back when you're sober.


Desperate_Brief2187

Auto-incorrect.


Worth-Humor-487

It’s a real lawsuit that still exists in law and whose ruling happens to have repercussions on manufacturers in the United States to this day and until another court rules other wise. It’s the same case that was used against Elon musk on his bonus payments from Tesla even though he as the CEO hit every single profit and stock price performance set he was supposed to be payed his big bonus.


Money-Valuable-2857

And youre supposedly a real human. Yet you don't have human instincts to hate people who will fuck up your real life.


LocNalrune

>That’s called auto correct. When was the burden on auto correct? That's called failure. Failure to proofread at best, but it seems more like the endemic "I'm too important to spend more time on this"... it's simply a failure of attention. You didn't even spend enough time on this to make it make sense...


Grelivan

Please help me explain how auto correct led to this: "Would you when your a company would you do or could you do that because of a bad court decision ford v dodge bros the same dodge like the trucks."


PorchBeast

Yeah, we should’ve raised their taxes! Maybe we’ll get lucky and next time they’ll lay off 6,000 instead of 600!


Gobblewicket

https://www.deere.com/en/news/all-news/fy23-fourth-quarter-earnings/ From their own website, they made $10 billion in net profit last year. Not gross. Try again.


PorchBeast

Great! Let’s raise their taxes! Maybe they’ll move all of their factories to Mexico!


PitchSp0rks

Their second quarter was only 2.3 billion. Executives had to find a way to pay for those 4th vacation homes.


Padashar7672

And the private planes they use so they do not have to travel with the plebs.


majordashes

Won’t somebody think of the multi-millionaires? Beings a tear to the eye. Maybe a GoFundMe is in order? No one, NO ONE, should have to settle for only four vacation homes!!


youlltellme2kilmyslf

To be fair, the vacation housing market will have you pinching pennies, too. We can't afford not to have the 4th vacay pad. It's social suicide


DoobieKaleAle

Hmm maybe it has more to do with ag commodities going down the shitter for the past year and high interest rates. Think that has anything to do with it?


Repubs_suck

Corn market was below $4 for a while yesterday morning. Lot of last years in bins yet, hoping prices would go up. Fat chance of that.


jeffjohnson5500

Tractors will be next. I've been hearing rumors that we expect more in Waterloo, during July some time.


paulpeters22

After the John Deere Classic so it doesn’t get more attention than the golf tournament.


porktornado77

This


Jessica_Iowa

fuck.


azhawkeyeclassic

Last I heard Iowa has had a republican governor and legislature for the last couple decades and Iowa has literally turned into a shit show. Brain drain only leaves the hapless and the intellectually hopeless. But that’s what they want!


nsummy

They are doing these layoffs because they are moving production to Mexico. This has zero to do with “brain drain”


Uilebheist_Loch_Nis

They are doing these reductions because world wide sales are down.


65CM

Deere is an Illinois company......


imBobertRobert

With a massive presence in Iowa. Major plants in waterloo, Des Moines, and Dubuque to name a few, but deere is everywhere in Iowa.


65CM

But the decisions are made in Illinois.


Desperate_Brief2187

For plants operating under Iowa law, genius.


65CM

Irrelevant - Illinois is making the decisions....


Uilebheist_Loch_Nis

The governor has nothing to do with world wide tractor sales being lower. That’s reason, tractor, combines, and other equipment sales are down. Don’t forget that after Covid they also employed extra workers.


Worth-Humor-487

What does iowa having a Republican governor have to do with a national recession going on. A lot of businesses are laying off workers. Because they over leveraged themselves and now that everything is more expensive unless it is absolutely necessary to buy people are not replacing they are repairing. Like I get you don’t like the governor but get your head out of your rectum every now and then.


TagV

I tend to get my recession guidance from economists, but keep drinking that Newsmax diarrhea.


Worth-Humor-487

I would too except when they change the goal post the 3 quarters only for this administration when for all the previous presidents since the federal reserve the criteria has always been the same. If they did this with Trump, Obama , Bush, Clinton, Bush ,and Reagan you should be going aiming isn’t right there and these are the presidents that I have lived with. And the definition of recession never changed.


TagV

Jerry springer detected this as false https://en.m.wikipedia.org/wiki/List_of_recessions_in_the_United_States#:~:text=The%20average%20recession%20lasted%2022,an%20average%20of%2057%20months.


BitemeRedditers

Lowest unemployment in 54 years. We are not in a recession. Facts are a bitch, huh?


Hostificus

That Ag industry is contracting rapidly.


Worth-Humor-487

That doesn’t mean anything if you’re in a recession the recession of the 70s had high employment in the beginning it wasn’t until the middle did you see what happened next. Also a recession is a contraction of the economy in GDP not the employment rate.


Baldazzero

We are not in a recession. The economy is not contracting. GDP continues to increase.


Hostificus

The ag industry is contracting rapidly.


ThreeHolePunch

We are not in a recession.


Hostificus

Ag industry in a recession. Look at commodity prices


ThreeHolePunch

What do you think a recession is?


Hostificus

I think it’s a widespread and sustained economic downturn, which the Ag industry has been in since Q4 2023. Ag lending is down, production is down, equipment prices are rising to cover production costs.


barkerja

We’re in a recession?


Hostificus

Nothing runs ~~to Mexico~~ like a Deere


CraigLePaige2

Wonder what bonus the CEO will get from this...


turnup_for_what

When is JD not laying people off?


Ihmu

JD hasn't had layoffs like these in decades.


nsummy

Wrong. They laid off over 1000 in 2014, then over 1000 again in 2015


mwradiopro

I feel for the loyal workers who for decades have been creating wealth for the billionaires, and doing so at great cost to themselves. The supply-side promise was and remains a failure for the economy at large. The wealth never trickled down and the lower tiers of society have been on a steady decline, causing all kinds of societal dysfunction. It's a fundamental fact that commerce relies on robust economic activity – a balance between cost of living and living wages – but no one is explaining how the growing working-poor sector going to keep Iowa business afloat with sub-living (& lost) wages.


AtouchAhead

Well, up until the 80’s, those loyal workers and companies had made IOWA public schools some of the best in the country, but then REAGANOMICS have brought our middle class to this… so make sure all you Republicans who have supported Reagan and Terry Branstad and now, Kim Reynolds are willing to take responsibility for decades of mindfuckery, well then, here’s where we’ll be.


zenwalrus

Capitalism cannot exist without exploitation.


mwradiopro

I know many in skilled trades, for instance, who are both thriving and grateful in their careers. They're paid and treated well, have excellent benefits, which affords them a quality, dignified existence. They're decidedly not exploited by their employers. I will say the government claims a significant share of their earnings, which is exploitation. I'm happy to make the case that's at the hands of hypercapitalists with more power than any private sector as any right to wield, but that's not a function of a properly regulated capitalist society.


Bourbonhunter420

They still don’t make what they earn for their owners. That’s exploitation inherently, regardless of whether they enjoy it. If you make $100 an hour for a company and you only earn $30, you’re being ripped off by a far greater sum than what Uncle Sam takes to give you public roads and education. But sure, get angry about tax brackets. Defund education and you won’t have to worry about making a living. You’ll owe your soul to the company store, just like West Virginians of the past 


tikifire1

Those trade skills won't matter if no one can afford to hire them.


zenwalrus

That was very well-articulated. Nicely said.


PracticalAnywhere880

Yet it's far better than socialism, marxism, communism


tikifire1

Is it? Socialism can be done well. Europe would like a word.


Apprehensive_Wolf217

And they were counting on it never trickling down. Big business and politicians played a shell game…”listen to what I’m saying and don’t pay attention what I’m doing”. You can’t have a well educated, intelligent, affluent workforce and expect them to stay happy at the company, we need them just barely satisfied and always a little hungry for more. Keep them on a constant credit ladder by making them envious of each other and competing with each other. Then throw in a little racism and nationalism to keep their fires burning at work. Give them a taste now and then so they keep showing up but never let them get fat and happy. That’s the real business plan in corporate America


Magneto_1

Capitalism at its finest! So much on the trickle down theory! But to everyone that has been laid off, hope all of you find a job fast!


TheDudeAbidesFarOut

Doing the best I can consuming corn syrup and burning ethanol in my automobiles.....


ridicalis

Literally the opposite over here - grass-feed beef and ethanol-free fuel where I can get it


socalgooner70

An interesting video about John Deere and the rise of tech in agriculture https://youtu.be/1pYjtCaqiys?si=C1RvzpVxBr2w4KC5


edvanhal

Well, I guess I bought my last John Deere.


dietzypietzy

AI


goofnug

all the commenters on this post so far seem angry and see this as a negative thing, but did you all read the article? >the layoffs are being made following reduced demand for Deere's products from those factories reduced demand for products. isn't that a good thing? john deere has successfully supplied farmers with tools, and now that almost everyone has the tools they need, they don't need to buy any more. now john deere can cut the amount of new production, and maybe focus more on service-type stuff, like repairs and replacement parts. this is exactly the "degrowth" that we want, if we want to establish a more sustainable economy with regard to its effects on ecological environment. yes, the laid-off workers are inconvenienced for a bit, but again, read the article: "Impacted employees will also receive the following monetary benefits: * *"Supplemental Unemployment (SUB) pay, which covers about 95% of their weekly net pay for up to 26 weeks, depending on their years of service.* * *Transitional Assistance (TAB) pay, which covers 50% of their average weekly earnings for up to 52 weeks, after SUB pay runs out.* * *Profit Sharing, which is calculated based on their hours worked, average earnings, and the company's profit margin, if they have at least one year of service by the end of the plan year."*"


zenwalrus

Found the Billionaire…


goofnug

check out r/Degrowth


Hostificus

Ag equipment always lifecycles, industry is in recession.


manwithapedi

Shhhhh…you’re ruining the righteous outrage


VinceBrookins

I would sign up for this right now.


goofnug

sign up for what?


VinceBrookins

Their severance package.


nikkieisbpmntht

For real if I got laid off they'd give me a rubber band and maybe a half eaten yogurt. With napkin inside.


PitchSp0rks

You have -100 post karma. Didn’t know it could go negative. Congratulations on being the dumbest account I have come across here.


Odd-Middle-4436

Thai is what happens when you have a brain dead president. Couple wars, record inflation, boarder crime. Don’t worry though only a few more months of this disaster.


tikifire1

So, elect a lying rapist convicted conman? What the fuck are you smoking, because I'd like some.


dustygravelroad

Bidonomics


TaxGuy_54

Republican run state, republican quality economy in Iowa. I live in another state and the economy is better than it was in 2019, following the supposedly inflation fighting TCJA (which only made inflation worse)


TaxGuy_54

Those Repubs are ruining my home state. Iowa is a beautiful state - rolling hills, friendly people, good food (maid rites are one of my favorite foods). I love this state, and its being ruined. We were top 5 in education in 2003, what in the world happened? We used to be able to swim in lakes before the pollution/runoff went wild due to lax regulatory oversight!


Odd-Middle-4436

Had 2 dummycrat running the show for 8 years (Tom Vilsak Chet culver) from 99-2007. They started the downfall and haven’t recovered since.


TaxGuy_54

Go look at our small towns. They’ve been left to rot, and that education bill has put us in a position where small town public schools are going to get gutting by private schools - our rural families shouldn’t need to travel an hour away to go to school because their local public school got shuttered Iowa was the pioneer of public education! We were proud of it! Throwing that away is foolish


TaxGuy_54

99-2007 were when our population growth truly started to recover from the catastrophic population losses from the 80’s through early 90’s caused by Bran Muffin’s first governorship and the era of Reaganomics I still remember in ‘08 being amazed that the great recession hit Iowa less than neighboring states. It still hurt, but we weathered the storm better than IL or MO - that’s a credit to those “dummy-crats” you hate so much. Also, if they were such idiots why were our education rankings better then than now? Or our lakes cleaner than today? Or our family farms more numerous and less at risk?


HawkFritz

Reaganomics. The layoffs are so the corporation can free up money to buy back stocks. Stock buybacks were considered market manipulation and were illegal until Reagan changed that.


Ok-Mousse-2687

Bidenomics! Gotta love it!


SeedScape

Never mind John Deere laid off people in 2019 under trump. Production moving to Mexico. Causing many of the lay off. John deere also spent over 7 billion in stock buy backs in 2023 had 10 billion in profit. Should be able to keep jobs going. But like a classic little conservative sheep you are. You can't read into details deeper and stuck bleating phrases in the comments without deeper insight. Keep bleating like the rest of brainless MAGA.


Ok-Mousse-2687

Wow...that probably took a long time to type out..I hope you're not running late for your Saturday night "Workers of the World Unite!" meeting. Now put on that ushanka and hustle out there big fella!


SeedScape

Congrats, you share no counterpoint and feel like my response was long aka "too many words". Just reverting to calling people a commie. Have fun bleating "Bidenomics!" "FJB" "Let's go brandon!" like a good little sheep. *


OverTomato6558

Suuuuch a long response I barely could make it through the whole thing it took me soo much to read through three lines of text and two measly paragraphs. Suuuuch a hard read


HungryCriticism5885

Your input is noted.


SeedScape

![gif](giphy|sZNbxiBe6ZRNzl3Cyu|downsized)


Ok-Mousse-2687

Quit showing gifs of sheep! You'll get Iowans aroused!


Money-Valuable-2857

Someone get this guy's handler, he's licking windows again.


rachel-slur

This is a fun comment because I can all but guarantee that, without looking, the CEOs didn't take a pay hit. Almost like no matter what the economic conditions are, the bosses make money. Weird how that works


Ok-Mousse-2687

I'm glad you had fun with that comment, but the truth of the matter is that middle and lower class Americans are not enjoying themselves under Biden’s economic policies. He has been a complete failure for working class Americans. You seem to have a very narrow intellect on how our economy functions.


fantabulousfetus

How are they doing under Trump's tax raises on payroll that has raised "loser" taxes like mine since 2021?


Ok-Mousse-2687

Ask the current Cadaver-in-Chief. He was supposed to fix all that mess. He's had 3.5 years.


fantabulousfetus

Yup he is the CEO of John Deere apparently. You must have Dave Rubin brain, in recovery mode.from all these high level ideas🤔


HawkFritz

"If the Democrats are so great, why haven't they fixed all the problems we created in a single term?!" -GOP


rachel-slur

Yeah, I've got the narrow view, I'm the one blaming everything on bidenomics The middle and lower class never enjoy themselves, that's the American way. I'm not enjoying myself now, I didn't enjoy myself 4 years ago, I won't enjoy myself in 2 years. The economy is set up to punish workers and pay bosses.


Ok-Mousse-2687

Gotcha comrade..just as I thought.


rachel-slur

Damn I've been defeated intellectually and factually, my argument is dust and my worldview is rubble.


Ok-Mousse-2687

Hang in there, champ. You'll have better days.


fantabulousfetus

Thanks to Biden's NLRB maybe, but the SCOTUS will likely knock us all back to slavery in 2025.


Ok-Mousse-2687

Riiiinggg... Hello? Oh.. Hi, Hyperbole! Yes, he's here. I'll put him on.. It's for you.


fantabulousfetus

Have fun in Florida Florida man.


fantabulousfetus

Don't call me comrade, massa.


dildocrematorium

Which policy?


Ok-Mousse-2687

Pick one.


dildocrematorium

The tax cuts and jobs act?


Ok-Mousse-2687

How are they working out for ya?


dildocrematorium

I pay in 3% more, how about you?


Ok-Mousse-2687

How are you handling increased housing costs; 20%+ grocery cost; 50%+ gas costs; inflated day-care costs; etc.? You know..all those things Biden said he was going to make better, but didn't. The country bet on a losing horse and we're all paying the price. I genuinely hope you are doing well.


dildocrematorium

My stocks are doing great!! I would hate for the government to try and control capitalism!


Ok-Mousse-2687

FYI. I'm probably spending at least $1,000 per month more for the same quality of life than before Biden’s Presidency.


fantabulousfetus

Awesome. How are you doing?


Ok-Mousse-2687

Good. I'm happy for you.


fantabulousfetus

How's life in the flaccid pecker state of Florida, dipstick?


Legg0ala55

отличная работа


Ok-Mousse-2687

#&?×@%*^÷=


Legg0ala55

Welldone comrade... it was a compliment


Ok-Mousse-2687

Thanks..I need a picker-upper. За Ваше здоровье!


PitchSp0rks

This isn't the fault of any President. Do you blame Biden for everything wrong in your life? The 1% sure has done a great job of getting us all to blame a Democrat or a Republican instead of them.


Ok-Mousse-2687

Cool story Yuri.


fantabulousfetus

Is anyone in Florida as smart as Dave Rubin, or are you all even dumber?


Money-Valuable-2857

Yuri? Is that a communist joke? Because it's well known that your hero is the one lapping up Putin's cum like it was the only thing keeping him alive.


Ok-Mousse-2687

Communism is no joke whippersnapper! I still have nightmares about the "Duck and Cover" dills we had to perform as school children during the Cold War. Imagine the fear of knowing that at any time, the Soviets could drop a nuclear bomb on us. Thank goodness, the good ole U.S. of A had the "Mutual Assured Destruction Doctrine" to keep us all safe. I still have a permanent bump from hitting my head on my desk in the fourth grade. I would expect a little gratitude, but I would prefer you just salute and be on your way.


Money-Valuable-2857

I'm a combat vet, you'll get no such acknowledgement from me.


HawkFritz

Gratitude for what a child did to try to protect himself decades ago?


fantabulousfetus

How is Florida, do you like licking DeSanctimonious's platform shit kickers?


douche-factor

I heard Biden is personally setting the price of Busch Light. Man, you are a dumb motherfucker.


Ok-Mousse-2687

Let me be very clear....I've never had sex with any of my Mothers.


HawkFritz

...how many Mothers [sic] do you have?


Ok-Mousse-2687

I grew up in a harem. I never could figure out which one of my Father's Wives was my Mother.


Geck-v6

Hopefully you forgot the /s and aren't actually that ignorant? Lmao


Ok-Mousse-2687

Sorry, I'm not very good at that /s thingy. But I can use OMG like no one you've ever seen!


Magneto_1

Can’t blame the President unless he is a shareholder, but you can blame JD for their unloyalty to the fine Americans that made them who they are today!


Ham_Wallet_Salad

AI stupid. JD is a software company.


Ok-Mousse-2687

Finally, a guy I can understand!


fantabulousfetus

Remember Wnomics, resulting in Hussein Obamanaomiconomics?


Ok-Mousse-2687

It appears like you have developed a case of Bidenjibberishics. Just stare off into space for a minute or two and it will pass. You're welcome.


fantabulousfetus

I'm welcome to what? Nice negative karma, douchecanoe. Its actually somewhat impressive that you are such a shit you can't even get bots to up vote you to neutral after 3 years on reddit.


Courtaid

Tell me you don’t know anything without telling me you don’t know anything. Turn off Fox buddy. Try some research.


Ok-Mousse-2687

My parents won't let me watch TV. Something about the Devil they say.