Trump is planning to bail out his corporate pals for pandemic losses --

[turbinetree]

— and leave taxpayers with the bill: columnist

Published 2 hours ago on March 17, 2020
By Tom Boggioni

In a column for the Daily Beast, political observer David Rothkopf warned American taxpayers that Donald Trump’s obsession with the stock market means that they will be hit with a bill for bailouts that put corporate profitability before the needs of cash-strapped Americans who have lost their livelihoods during the mismanaged coronavirus epidemic response.

With hints of a $50 billion bailout headed to the airline industry that has been hard hit by the almost complete collapse travel, Rothkopf compared the upcoming bailout of various industries to the 2008 bailout that mainly benefited the big banks while Americans were losing their homes.

According to the columnist, the airlines could have had cash on hand to weather the storm if they had used their Trump-era tax savings to buy back stock.

“Yes, the airline industry used 96% of its free cash flow during the last decade on stock buybacks. Yes, that’s tens of billions of dollars they could have used as a safety net to aid them in times like these. But Monday, in the wake of the industry saying they wanted a $50 billion handout from the government to help them get through the current downturn in travel, the President said that the U.S. will back them up as needed,” he wrote before warning, “Cruise-line executives have indicated that they would need help. Energy executives hurt by plummeting oil prices are already getting help through the government’s plan to buy oil for the national strategic reserves .

https://www.rawstory.com/2020/03/trump-is-planning-to-bail-out-his-corporate-pals-for-pandemic-losses-and-leave-taxpayers-with-the-bill-columnist/

FUCK This SHIT.................................I want a fucking break from my mortgage payments, credit card, student debt...................

[BigMin28]

1. Cruise lines

Should ask for help in the countries where their ships are registered. If they won't do business according to US laws and regulations (labor laws), then they shouldn't receive a bail out from the US.

[turbinetree]

2. Yepper spot on....................

[Bengus81]

5. Damn right,they've been abusing passengers before this happened.

[Strelnikov_]

7. The economy needs air transport . . someone will fill that niche

The government needs to keep this industry on life support, on life support, not 'cover losses'. This covers all critical industries. If they are necessary, they will reemerge.

The cruise industry on the other hand. The taxpayer has no business bailing them out.

[N_E_1 for Tennis]

3. Not socialism when we do it...nt

[Bengus81]

4. And DEMS in the House and Senate.......

Need to roll out THEIR plan for those who WORK for a living and the retired who worked all their lives to watch it all crumble away under Trump.

How about $1,000 per quarter bonus for those on and barely getting by on Social Security?
How about $1,000 per quarter bonus for those making less than 100,000 per year
How about immediate $15.00 MW.
How about demanding banks lower LOAN SHARK interest rates on credit cards
Etc,etc


Roll that out and let McConnell and Republicans kill the bill and let their Corporate assholes twist in the wind.

[getagrip_already]

6. but not a penny for ventilators, masks, or additional bed space......

You would think the first priority would be health and safety, not profit.

[DBoon]

8. Screw this

We need extra unemployment benefits for any working person who has been furloughed, laid off or had their hours cut

And that includes gig workers. We know their independent contractor status is a sham to prevent them from receiving the benefits due all workers.

[llmart]

9. I cancelled a flight with Delta yesterday.

I was told there would be no refunds except for those with first class tickets. The rest of us get a voucher that has to be used by the end of the year. Also, I still have to pay for the federal taxes and fees (TSA service fees). Why should I have to pay TSA fees for a service I didn't receive? Why should I pay federal taxes on a flight I didn't take? And why are they allowed to refund some fliers ticket costs but not those of us in economy?

That's what I want to know.

[Aaron Pereira]

10. Sheldon Adelson has pumped nearly half a billion into the Republican party.

Now the casino industry wants a cash grant bailout too. Government bailouts for casinos, I can't believe it.