| retiredguy123 |
04-25-2020 12:20 PM |
Quote:
Originally Posted by vilger
(Post 1753225)
It's laughable to call what we have now capitalism. Disney, Carnival and the rest of corporate America have borrowed trillions over the past 10 years to buy back their stock and to pay dividends, to the detriment of corporate balance sheets. So when an economic recession occurs like now, they are ill prepared for it and ask the Fed and taxpayers to bail them out. Bernie was right when he said socialism is good for the top, but it's rugged individualism for everyone else.
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Almost all of the wealth and income that the Federal Government collects comes from the profit made by private companies and their employees, who only have a job because the company makes a profit. Where else do you think the Government gets money? So, when a corporation asks for a bailout or loan from the Fed or the taxpayers, they are actually asking for their own money back.
Yes, corporations may not be prepared to deal with a recession because they cannot print money or borrow it from future generations like the Federal Government does. Also, Carnival is a foreign company that is not part of corporate America. |
