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Policy? Check. Romney? Check. Politics. http://voxeu.org/index.php?q=node/2574 is the best take on it that I've seen so far, though, if we really have to go there (we don't).
Earlier quoted context omitted.
This might sound crass, but companies who knowingly and actively pay people to do nothing on a perpetual basis deserve to die: http://www.detnews.com/2005/autosinsider/0510/17/A01-351179....
Ok, but how about the hundreds of small businesses and suppliers that depend on the Big 3 for work?
Earlier quoted context omitted.
Romney has a proven record of turning around sinking ships. Both the Bain Company and the 2002 Winter Olympics were in bad shape when he took the reins in 1990 and 1999 respectively. He fixed both of them and remade them into viable ventures. I'm quite apt to take his word when he says a managed bankruptcy is the best option for the US auto industry.
and one wonders why bankruptcy is suitable for any other company in america, including airlines that have gone in and out of bankruptcy numerous times over the years...yet this same option is not permissible for the big3? this is exactly why ch.11 exists - to allow freedom to restructure
Sounds like Romney is advocating a "managed bankruptcy" where the government would facilitate a chpt11 bailout of the Big 3. Republicans want to avoid supporting an all out bailout whereas Democrats want help "main street" by helping the Big 3 avoid big-bad-bankruptcy. Obviously there is a lot of word wrangling going on in politics but it seems like this would be a good solution if it is communicated well.
one must ask why a waitress at denny's who makes minimum wage and has no healthcare must bail out union workers at gm who make 8x the wages, do less work, have ZERO DEDUCTABLE healthcare (do you? i doubt it), and full pensions. or why should a succesful worker at honda in ohio subsidize not only a failed competitor, but in essence have his own taxation used to undermine his own hard work? as for saving jobs and inves…
Being in a union doesn't make one lazy or overpaid. How do you over pay someone anyway? Who deems what a job is worth to society?
It is very unfortunate that the big three made the agreements they did, but they made them. They should be allowed to fail. All this talk of a bailout just furthers the crisis. When things start to look more desperate, the UAW will renegotiate. If they don't, the organization will cease to exist.
What I worry about are all those retirees who depend on the pensions they were promised.
one must ask why a waitress at denny's who makes minimum wage and has no healthcare must bail out union workers at gm who make 8x the wages, do less work, have ZERO DEDUCTABLE healthcare (do you? i doubt it), and full pensions. or why should a succesful worker at honda in ohio subsidize not only a failed competitor, but in essence have his own taxation used to undermine his own hard work? as for saving jobs and inves…
And before anyone says its a non-partisan thing, look at where opposition to this bailout and the previous one came from. That's right: the guys we just voted out for being war-mongers and Big Brother supporters.
Ain't democracy grand?
one must ask why a waitress at denny's who makes minimum wage and has no healthcare must bail out union workers at gm who make 8x the wages, do less work, have ZERO DEDUCTABLE healthcare (do you? i doubt it), and full pensions. or why should a succesful worker at honda in ohio subsidize not only a failed competitor, but in essence have his own taxation used to undermine his own hard work? as for saving jobs and inves…
This post smacks of jealousy. What is wrong with zero deductible healthcare? I don't fault someone for trying to climb society's ladder. I want everyone in America to be able to earn a living wage. Being in a union doesn't make one lazy or overpaid. How do you over pay someone anyway? Who deems what a job is worth to society? It is very unfortunate that the big three made the agreements they did, but they made them.…
Person B, an auto worker at GM, making $30-40/hour with zero deductible health care.
[edit: see response to this post, auto worker gets $73/hour.]
The bailout: tax person A in order to help person B, with 3 large corporations taking a cut of the proceeds. Does this make any sense?
Incidentally, the original poster did not describe union workers as either lazy or overpaid.
[edit: forgot to mention, it's actually very likely that the waitress does not pay taxes at all. So more realistically, the waitress should be replaced by someone in the $20/hour neighborhood.]
Earlier quoted context omitted.
This might sound crass, but companies who knowingly and actively pay people to do nothing on a perpetual basis deserve to die: http://www.detnews.com/2005/autosinsider/0510/17/A01-351179....
Ok, but how about the hundreds of small businesses and suppliers that depend on the Big 3 for work?