So . ..they have their corporations based in foreign countries. This way they don't have to pay U.S. Taxes Explain to me why We should give a d*mn about helping them recover their losses I like Cruising . . enjoy it but They purposely avoided paying the taxes It is not like they didn't have the money . . . .they were being greedy My Free Marketers would tell me that. . . if they die they will be replaced by newer and better Is that not right? Good businessmen would tell me they should have had insurance and paid into the system to shore up against such issues Is that not right? If they were people and not a corporation . . . . would we be so generous to foreign nationals? I mean we are keeping a good number of them in cages Rocket River
I really don't get it either, this is an explain to me like I'm 5 type thing. Even if they went under, another cruise company would buy the ships and start sailing. The entire cruise industry won't go away, and even in the unlikely event it does big f**king deal. I get the airlines and banks back in 08, but the cruise companies is a head scratcher.
But Weren't those AMERICAN Airlines and AMERICAN Banks These are not American companies. Rocket River
Corruption at its finest. Cruise Industry isn't critical to the economy. It's the kinda pork @Trader_Jorge loves
Yep. Considering our President's disdain for American companies that do things outside the country, this is a truly perplexing move on his part.
They not only avoid U.S. taxes, but they also avoid most U.S. laws and regulations, including environmental, labor, and liability.
Instead of bailing them out, we could rent their cruise ships to be used as floating auxiliary hospital space. Then the cruise companies get revenue, and the country gets something worthwhile out of it. Make them into an essential service. Of course, we could probably get the same benefit more cheaply by renting out hotel buildings.
Cruise ships were floating incubators long before Covid-19. Could never understand the love of cruises anyway.
The only reason I can guess is a crooked one, with leverage and pull from shady businesses to crooked politicians who get some kind of personal gain. What a crime to use American taxpayer dollars to give feel foreign registered pleasure ships.
I'm in agreement that these businesses that are not US based companies should not be getting the benefits of our country. I'd like a loan where we as the US taxpayer get good interest collateralized by all their assets and the owners personal guarantees and they must return to being US domiciled companies for at least 20 years. That would be ideal. US is borrowing at virtually 0 interest rates so this would be a golden deal for America and would keep them afloat (literally).
Not identically but similar to auto companies: shipbuilding, catering, lodging and transport probably draw in a lot of resources, goods, raw materials and services from American companies.
The difference between baling out the airlines and cruises is that the airlines are required travel. Cruises serve no purpose other than leisure. The cruise industry seems like it's been a complete s***show over the past few years with breakdowns out at sea and being a disease incubator. Let them die.
Who along the political spectrum is asking for the cruise industry to be bailed out? It has to be coming from somewhere, but I don’t see anyone arguing for it.
Do we know if it was in the original Republican bill or was added by the Democrats? Even in a pandemic these assholes find ways to guild the Lilly.
Right? Maybe they just own stocks. Or Disney, which owns Cruises, stepped in. Larger companies may not show up on that page.
Part of the Republican Bill: https://www.theguardian.com/world/2020/mar/20/coronavirus-washington-lobbyists-bailout The Republican bill provides passenger airlines and air cargo carriers up to $58bn in loans, while a mix of hotels, cruise ships, shopping malls and other sectors were given $150bn to help weather the economic downturn. Hours before the Republican measure was released, Trump said he expected the package would provide help for the airlines, cruise lines and “probably hotels”. On Tuesday, Trump met with hotel industry executives who reportedly asked for $150bn in help and another $100bn for their suppliers. Watchdog groups are raising red flags about the $50bn loan package for America’s big passenger airlines which in recent years have drawn growing consumer complaints, while spending tens of billions on stock buybacks. And the $150bn in the Republican bill for the well-connected hotel industry – which Trump’s family business is heavily engaged in – and other industries have also generated criticism.
I don't believe in this argument myself, but the only real argument for bailing them out is that the US government, in bailing out others not too long ago, created the "moral hazard" whereby industries now expect to get bailed out when they fall on hard times.
