Talk:Corporate welfare

Benjamin Reeves
The following quotes seem to fail WQ:Q:
 * The $2 trillion bailout is a monstrous example of corporate welfare. Many of the companies that will be beneficiaries of the bailout seem to be operating with an intent to fleece taxpayers. Hilton Hotel Corporation, for instance, engaged in a $2 billion stock buyback on March 3, at which point it was more than apparent that they would experience a slump in business. The coal industry has sought to use the bailout to wriggle out of a $220 million tax intended to benefit former coal miners with black lung disease. And the airlines have begged poverty despite spending 96% of free cash flow on stock buybacks over the past decade...  these same airlines are estimated to have a full six months of liquidity with which they could continue to pay salaries.
 * And if that’s not frustrating enough, get this: executive pay for bailout beneficiaries is capped at only $3 million plus 50% of whatever they made above $3 million in 2019. This means that theoretically the American Airlines CEO, who earned $12 million 2018 (the 2019 numbers are not available yet), could still earn $7.5 million in 2020 even as his company benefits from taxpayer funds.
 * Benjamin Reeves in Instead Of Bailing Out Corporations, Why Not Cancel Student Debt?, March 27, 2020, Talking Points Memo

Rupert Loup 05:41, 2 April 2020 (UTC)