Is there such a thing as corporate welfare.
Debate Rounds (3)
That nonsense that something is too big to fail. Nothing is not too big to fail. There are laws of prosperity, and laws ff poverty.America is now walking in the laws of poverty. The main law of poverty is debt. We can collapse just as an individual can who is head over heels in debt.The coffers of those who are lending to us will eventually be cut off. And then what will government do. Raise taxes.
2. Hypothetical situations are useless. There is no way to accurately determine any fictional situation.
3. The bail out money was given to GM and Chrysler to prevent them from having to liquidate their assets, including their workforce. In basic math terms, more people working means less people seeking welfare.
4. We're not speaking about 'bad behavior,' this is reflective of the need to protect a workforce and industry that provides 3-3.5% of the U.S. GDP.
5. Protecting companies is not wasting resources on those abusing the system. When the economy of your country is so richly intertwined to one industry, failure can be disastrous
6. Everything in life can succeed or fail. Big or small.
7. Welfare is not meant to last. The auto industry is succeeding now and the bailout money has to be repaid.
8. Debt is everywhere, individually and commercially. But commercial debt has a larger impact on society than individual
cheyennebodie forfeited this round.
The Obama administration gave bailout money to protect the over 1.7 million workforce, not solely the unions. Obama was protecting a sector that generates 9.8% (as of 2013) of the countries GDP, more than food/beverages, and oil/petro.
There is greed on both sides, that I agree, but saying that corporate welfare is solely negative is to undermine its entire purpose. It prevents the collapse of companies and jobs. Adding another 1.7 million people to unemployment is not a solution.
As for crony capitalism, there is no favoring when you're protecting an entire industry.
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