Bailouts = Corporate Socialism and Crony Capitalism

https://www.nytimes.com/2020/03/25/us/politics/virus-fineprint-stimulus-bill.html

We went to McConnell’s people, we went to Schumer’s people, and Pelosi’s and McCarthy’s people — we pinged them all,” said Rachelle B. Bernstein, a lobbyist and tax counsel at the National Retail Federation, which pressed successfully for the $15-billion-a-year change in federal tax law.Lobbyists appealed to Senator Mitch McConnell, the majority leader, as well as Democratic leaders.
Lobbyists appealed to Senator Mitch McConnell, the majority leader, as well as Democratic leaders.Credit…Anna Moneymaker/The New York Times
While some industries and companies are benefiting from provisions tailored for them, others appear certain to get a piece of the pie through more general components of the bill, from the $454 billion general purpose fund for businesses and state and local governments to the $50 billion earmarked for airlines and $8 billion for air cargo carriers.

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Joel Gross

Joel Gross is the CEO of Coalition Technologies.

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