No bailouts for ships registered in other countries to avoid US taxes
No bailouts for companies unless they are required not to do stock buybacks or have excessive executive pay
No bailouts for companies that don’t pay fair wages
Worker must be helped first. Companies already got a big gift with the Trump tax cut. They spent it on buybacks instead of a rainy day fund. That’s not my fault or problem.
Sure, we’re going to have to help some companies to prevent industries from going under and jobs and services from being lost. However, let’s not let them use us to benefit their shareholders and executives. If Trump’s businesses get bailout money, we need to know.
Stopping taxpayer bailout money from going to stock buybacks or executive bonuses isn't rocket science. We just have to make it a requirement for all big businesses receiving federal money. And I've got a full list of terms for that. https://t.co/cPjVMNoN3R
— Elizabeth Warren (@SenWarren) March 19, 2020
On July 15, 2019, your board of directors authorized $3B in buybacks. Please sit down. https://t.co/6s9BTw8ZZh
— Katie Porter (@katieporteroc) March 20, 2020
Airline CEO pay
— rafael (@rafaelshimunov) March 18, 2020
Delta: $15M
American: $12M
United: $10M
SouthWest: $8M
Alaska: $4M
Now they're asking for a bail out that is almost equal to the value of every airline combined.
If we're going to pay for it, we keep it.
Nationalize the airlines.
A lot of companies are lining up for bailouts right now. CEO-to-worker compensation in America is, conservatively, about 220:1 (higher, if you measure it different ways). This is the moment to start fixing this uniquely American outrageous statistic.
— Ali Velshi (@AliVelshi) March 18, 2020
One of the reasons industries are so short on cash right now is that they have spent billions buying back their own stocks instead of investing in their workers and saving for a rainy day.
— Chuck Schumer (@SenSchumer) March 18, 2020
That needs to be addressed NOW.
Holy shit, Boeing spent *$43 billion* on stock buybacks, helping more than double its stock price in 2017-2018, enriching shareholders, only to meltdown from its mass produced faulty planes and the current coronavirus crisis. Now they need a bailout? https://t.co/q0obrCrWki
— Lee Fang (@lhfang) March 18, 2020
The Trump tax cut was a hippo size windfall for the airline industry. Southwest alone reported a $1.4 BILLION benefit. Workers got a sliver. Stock buybacks made rich investors even richer.
— Chris Murphy (@ChrisMurphyCT) March 18, 2020
Remember that when the airlines come asking for a no-strings-attached bailout.
Trump is speaking to US airline executives this morning. They want a $50bn bailout in spite of spending more than $9 out of $10 in free cash flow on share buybacks in last decade. @djrothkopf on why many strings should be attached to protect employees. https://t.co/vXJbM51MXE
— Edward Luce (@EdwardGLuce) March 18, 2020
We don't want bailouts unless they're used for workers, unless the industries keep all their employees, unless they don't cut salaries of their employees, and unless they are not allowed to buy back their own stocks or raise corporate salaries. #WorkersFirst
— Chuck Schumer (@SenSchumer) March 19, 2020
We don't need a "stimulus" package. We don't need bailouts of airlines, casinos, and hotels. We don't need more corporate tax cuts.
— Robert Reich (@RBReich) March 19, 2020
We need everyone home and safe, with enough money to pay their bills and see a doctor if necessary.
Health is more important than the economy.
State of play on emergency aid/"bailouts" for big firms:
— Jeffrey Stein (@JStein_WaPo) March 20, 2020
– WH & GOP want $50B 4 airlines
– They also want $150B for other hard hit industries
– WH has said it wants to help hotels & cruises
– Treasury would get authority to decide where the $150B goeshttps://t.co/jouGWUQbp9
Corporate America:
— Sven Henrich (@NorthmanTrader) March 20, 2020
2009-2019: Cheapest money cycle in history
2017: Biggest corporate tax cut in history
2018: Record corporate profits
2019: Flat earnings growth
March 2020: Government bailouts please.
Many of the industries that are or will be seeking bailouts have been major donors to the president’s campaign. https://t.co/FawYqFHSUf
— Citizens for Ethics (@CREWcrew) March 19, 2020
Colorado Gov. Jared Polis took a dig at the president in an MSNBC interview this week, saying he doesn’t support corporate bailouts because “I’m not a socialist like Donald Trump.” https://t.co/C03yhPONwz
— The Denver Post (@denverpost) March 20, 2020
NO justification for bailouts or subsidies to corporations. They can get low-interest loans or reorganize their debts in bankruptcy.
— Robert Reich (@RBReich) March 19, 2020
They got $1 trillion+ from Trump's tax cut & used it to buy back their shares of stock.
No more corporate welfare. Help people, not corporations.
The 500 biggest corporations spent 50% of available cash flow on buybacks in the past decade, which enriched execs, per @business
— Dan Price (@DanPriceSeattle) March 20, 2020
Regular people would be punished for frivolous spending and poor "financial literacy." But companies are being rewarded with tax breaks and bailouts
On July 15, 2019, your board of directors authorized $3B in buybacks. Please sit down. https://t.co/6s9BTw8ZZh
— Katie Porter (@katieporteroc) March 20, 2020
Gonna reiterate that the big cruise ship companies, all actually based in Miami, locate their tax residence in Panama, Liberia, and the Bahamas and thereby avoid U.S. tax. It would be insane to bail them out without making them repatriate. https://t.co/jHbO93l7qt https://t.co/DUuYOmPOeG
— Seth Hanlon (@SethHanlon) March 20, 2020
As a former secretary of labor, I can tell you that the airlines don't deserve a $50 billion bailout.⁰ In the last 10 years, they spent 96% of their cash flow to buy back shares of their own stock in order to boost executive bonuses.
— Robert Reich (@RBReich) March 21, 2020
They shouldn't see a dime of taxpayer money.
All the major cruise lines are asking for bailouts from the U.S. Government.
— Sabrina McDaniel (@Sabrina_McDa) March 22, 2020
Yet, Disney Cruises sails under the Bahamian flag … Celebrity Cruises under Liberian/Maltese flags & Carnival Cruises under the Panamanian flag – all to avoid U.S. taxes & employment law
Just sayin'
