We can’t partition the economic health of employees from that of their employers. Moreover, Mr. Scarborough should temper his virulent anti-corporate rhetoric. He whipped up contempt for Fortune 500 companies “piecing together corporate bailouts” that “already received massive financial windfalls from Trump’s tax cuts.” But those 2017 tax cuts were a bipartisan goal previously endorsed by the Obama administration because this nation’s high tax rates were not competitive internationally. One could debate the magnitude but not the basic need for significant cuts.
Mr. Scarborough assailed corporations for buying back stock instead of expanding their operations, giving workers raises, etc. It is worth considering that “workers” in the United States’ largest corporations already tend to be well-paid and that, for manufacturers, President Trump’s initiation of a trade war on the heels of the tax cuts triggered fears of a global recession that threw cold water on potential domestic expansion projects.
The op-ed portrayed these “largest corporations” as “back at the trough lobbying for another bailout.” Presumably, this is an allusion to the controversial bailouts following the 2008 financial crisis. However, the recipients in that era were big banks, a major insurance company and auto manufacturers. These are not the businesses imperiled by the coronavirus crisis and seeking federal assistance in 2020.
Kenneth Barry, Vienna