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Even if they hadn't done buybacks, it would be very unprofitable to keep paying people not to work for the duration of this crisis. Corporations should generall
by asdfasgasdgasdg 7y ago
Even if they hadn't done buybacks, it would be very unprofitable to keep paying people not to work for the duration of this crisis. Corporations should generally try to do profitable things, so making staff redundant would probably be a good idea no matter their cash situation. Air travel is not going to return to its previous level for months or even years. It's not efficient to pay staff to be idle for that whole time.
That doesn't take away from the fact that income maintenance is a good thing in a crisis like this. However, this type of public benefit is best provided by the government, not private corporations.
- ferzul 7y agobut if we're going to insure them, shouldn't they pay proportionate taxes? it seems like these corporations weren't being taxed enough if they could give themselves such large payouts and then teeter and fall at the next downward trend.
- asdfasgasdgasdg 7y agoCorporations and their owners already pay the vast majority of all collected taxes in all Western countries, as they should. And at least where I live (New York) they are required to carry/pay for unemployment insurance for their workers. So . . . yeah I guess? We are already doing what you describe.