XPO | "your Welcome Yrc." Signed, Joe Taxpayer.

[ScotchNeat]

Another example of our federal government interfering with a market in the private sector. Too big to fail? Apparently so. Here is a quote from the article.
"The best time to let YRC fail may have been during the pandemic as other consistently profitable LTL carriers were forced to jettison network capacity and workers to lower their costs as volumes sagged. The COVID-19 shutdown likely offered a rare opportunity for the industry to absorb nearly $5 billion of freight as most carrier networks had idle capacity and could likely bring it on with minimal supply chain disruption."
https://www.freightwaves.com/news/t...spid=lvZ18uReAAeNWj9ZJOzEo.otGeDNDHOCpT0spNuA

 

[XCCX]

It’s a loan. Companies across a broad spectrum received these loans . Probably saved us from the brink of a depression. I don’t think we want to go there . Soup kitchens, people begging for jobs . I don’t think that would be in the best interest of anyone .

 

[btjkc]

It’s a loan. Companies across a broad spectrum received these loans . Probably saved us from the brink of a depression. I don’t think we want to go there . Soup kitchens, people begging for jobs . I don’t think that would be in the best interest of anyone .

It’s not the same type of loan that other businesses were getting. This loan is specifically designated for companies that are critical to national security.

 

[TruckinGod77]

It’s a loan. Companies across a broad spectrum received these loans . Probably saved us from the brink of a depression. I don’t think we want to go there . Soup kitchens, people begging for jobs . I don’t think that would be in the best interest of anyone .

The question is will they be able to pay the loan back or is the government prolonging the inevitable

 

[XCCX]

The question is will they be able to pay the loan back or is the government prolonging the inevitable

That’s could be applicable to any of the companies that qualified for the loans . I still rather see these loans then the free money that Trump gave to companies that were doing fine . Most of that money went to executives and stock buybacks.
I’m not sure why executive welfare is good and loans specifically to keep workers employed is bad. I question the logic and the motives of those who feel different.

 

[TruckinGod77]

That’s could be applicable to any of the companies that qualified for the loans . I still rather see these loans then the free money that Trump gave to companies that were doing fine . Most of that money went to executives and stock buybacks.
I’m not sure why executive welfare is good and loans specifically to keep workers employed is bad. I question the logic and the motives of those who feel different.

Do you mean reducing the taxes of a company? How is that a bad thing, letting them keep more of their money to do as they please.

 

[XCCX]

Do you mean reducing the taxes of a company? How is that a bad thing, letting them keep more of their money to do as they please.

Because it takes from the greater good of society. When taxes are diminished something has to give. Infrastructure, public safety and health, ect .


The tax cuts add to the deficit. Something that conservatives railed about into Trump entered office .

https://www.npr.org/2019/12/20/7895...-cuts-have-failed-to-deliver-on-gops-promises


https://www.nytimes.com/2018/11/12/...e-corporate-behavior-heres-what-happened.html

 

[joes bar and grill]

The question is will they be able to pay the loan back or is the government prolonging the inevitable

Well Sparky, Con Job and Fredex tried to kill them with their 90% discount for 90 days and couldn't do it, so what makes you think they will go out now?

 

[trucknfool]

Well Sparky, Con Job and Fredex tried to kill them with their 90% discount for 90 days and couldn't do it, so what makes you think they will go out now?

I remember that.

 

[TruckinGod77]

Well Sparky, Con Job and Fredex tried to kill them with their 90% discount for 90 days and couldn't do it, so what makes you think they will go out now?

How many times has YRC not paid their medical and now they have a additional 700 million dollars of debt and lost a 1/3 of the company

 

[joes bar and grill]

How many times has YRC not paid their medical and now they have a additional 700 million dollars of debt and lost a 1/3 of the company

YRC as far as I know are current with their medical payments, they didn’t lose any part of the company they used it for collateral, much like your mortgage or car payment, so how about that 16 k difference in retirement contribution, you want to explain that?

 

[TruckinGod77]

YRC as far as I know are current with their medical payments, they didn’t lose any part of the company they used it for collateral, much like your mortgage or car payment, so how about that 16 k difference in retirement contribution, you want to explain that?

I already did, I grossed 20 thousand more and used some of it for investments for my retirement and on track to live comfortably in retirement, thank you for letting me explain it and have a wonderful day

 

[Fly-by-night]

Do you mean reducing the taxes of a company? How is that a bad thing, letting them keep more of their money to do as they please.

Image that.... Lower corp tax rates which allows a company to reinvest, expand, and even hire more making them tax payers instead of takers from the system. Before to this China Flu, Covid-19 for those that are PC about it, we had more jobs then workers which drove pay rate up

 

[joes bar and grill]

I already did, I grossed 20 thousand more and used some of it for investments for my retirement and on track to live comfortably in retirement, thank you for letting me explain it and have a wonderful day

You didn't explain ::, compare hour for hour and you were behind in wages, how much would you gross on a 50 hr week?

 

[Fly-by-night]

Because it takes from the greater good of society. When taxes are diminished something has to give. Infrastructure, public safety and health, ect .


The tax cuts add to the deficit. Something that conservatives railed about into Trump entered office .

https://www.npr.org/2019/12/20/7895...-cuts-have-failed-to-deliver-on-gops-promises


https://www.nytimes.com/2018/11/12/...e-corporate-behavior-heres-what-happened.html

and if Obozo did he would have been praised over and over about it but democrats don't believe in tax cuts

 

[Fly-by-night]

That’s could be applicable to any of the companies that qualified for the loans . I still rather see these loans then the free money that Trump gave to companies that were doing fine . Most of that money went to executives and stock buybacks.
I’m not sure why executive welfare is good and loans specifically to keep workers employed is bad. I question the logic and the motives of those who feel different.

Yet YRC could barely keep it's head above water with the cut in the corp tax rate lowered to 21%. The simple fact is that Trump just brought our corp tax rate more inline with the rest of world before that we were one of the highest rates. Make you realize why some many company fled to overseas manufacturing.
Here are some key points.
https://taxfoundation.org/benefits-of-a-corporate-tax-cut/

"Evidence shows that of the different types of taxes, the corporate income tax is the most harmful for economic growth. One key reason that capital is so sensitive to taxation is because capital is highly mobile. For example, it is relatively easy for a company to move its operations or choose to locate its next investment in a lower-tax jurisdiction, but it is more difficult for a worker to move his or her family to get a lower tax bill. This means capital is very responsive to tax changes; lowering the corporate income tax rate reduces the amount of economic harm it causes."

"A common misunderstanding is that corporations bear the cost of the corporate income tax. However, a growing body of economic literature indicates that the true burden of the corporate income is split between workers through lower wages and owners of the corporation."

 

[TruckinGod77]

You didn't explain ::::, compare hour for hour and you were behind in wages, how much would you gross on a 50 hr week?

I dunno I average 40 to 45 hours a week, at 50 hours I'd make over 120,000 with benefits and who in the world would you think I'm behind in wages when xpo pays over 4/hr more then ABF

 

[joes bar and grill]

I dunno I average 40 to 45 hours a week, at 50 hours I'd make over 120,000 with benefits and who in the world would you think I'm behind in wages when xpo pays over 4/hr more then ABF

No how much would your wages be, it's already known your benefits suck, your insurance premium, and contribution to your retirement eats away at that 100 grand, no way a city driver is making 100 grand in wages.

 

[XCCX]

I dunno I average 40 to 45 hours a week, at 50 hours I'd make over 120,000 with benefits and who in the world would you think I'm behind in wages when xpo pays over 4/hr more then ABF

No your not

 

[TruckinGod77]

No how much would your wages be, it's already known your benefits suck, your insurance premium, and contribution to your retirement eats away at that 100 grand, no way a city driver is making 100 grand in wages.

I finally got all my numbers from 2019, $72,889.64 wages, Xpo paid $18,101.16 for my health insurance, 500 into my health reimbursement account,4 weeks of pto at 4,723.20 and 3,291.50 into my 401k and holiday pay 1,653.13 for a total of 101,258.12, im a city driver and only work ot when required, like I said not a lot of difference in overall in what the companies pay us.