CORPORATE WELFARE & REPUBLICAN PROSTITUTION

Cape Cod Women for Change

This has been said repeatedly - but it's important. If states like NY and CA and even MA were to go bankrupt it would impact so many aspects of the economy- including Trump's all-important stock market. Think, municipal bonds. This explains why it's such a bad idea.... and also seems to indicate that McConnell doesn't grasp some important aspects of our basic economy!

“I would certainly be in favor of allowing states to use the bankruptcy route,” McConnell, a Republican from Kentucky, said during an interview on the Hugh Hewitt show. “It saves some cities. And there’s no good reason for it not to be available.”
The comments came as Congress considers extending aid to cities and states that are seeing tax revenue disappear as wide swaths of the economy are shut down. The resulting budget gaps could force deep spending cuts that would exert a drag on any recovery. Governors alone have asked for $500 billion to help soften the blow of what could be the worst fiscal crisis they have faced in decades, with cities also requesting funds.

https://www.bloomberg.com/…/bid-to-let-states-go-bankrupt-m…

The last time America’s states were in the throes of a crippling fiscal crisis, an idea was floated in Washington to help them swiftly bring it to an end: let them file for bankruptcy and escape from the trillions of dollars owed to bondholders and retired public employees.

bloomberg.com

Bid to Let States Go Bankrupt Met Rapid Demise a Decade Ago

The last time America’s states were in the thro

LINK

This goes far beyond the dictates of Wall Street.

If Moscow Mitch, corporate prostitute, thinks states should go bankrupt, then he needs to stop bailing out CORPORATIONS, especially those that PAY NO TAXES and there are a host of them.

Corporations that pay no taxes would include airlines that spent their cash buying back stocks to increase shareholder prices, none of the cruise lines are registered in the US, but there was a hocky deal with Saudi Arabia, and how about those OIL COMPANIES?

What taxes have they paid? They're subsidized and protected.

Dirty Coal is mostly bankrupt and needs to be euthanized.

Dirty Tar Sands is moving forward? Why? BFF of Donnie?

The following companies had effective rates of 0% or less, according to the report:
Phillips-Van Heusen
Gannett
INTL FCStone
Murphy Oil
AECOM Technology
International Business Machines
CenturyLink
DowDuPont
Activision Blizzard
Avis Budget Group
Celanese
JetBlue Airways
Deere
First Data
Duke Energy
Pitney Bowes
Freeport-McMoRan Copper & Gold
WEC Energy Group
Levi Strauss
Brighthouse Financial
Aramark
Whirlpool
Prudential Financial
Trinity Industries
Ryder System
United States Steel
Eli Lilly
CMS Energy
Tapestry
EOG Resources
Beacon Roofing Supply
SPX
Realogy
Public Service Enterprise Group
Rockwell Collins
Goodyear Tire & Rubber
MDU Resources
FedEx
Williams
SpartanNash
Chevron
Delta Air Lines
Edison International
Penske Automotive Group
Principal Financial
PulteGroup
Air Products & Chemicals
Honeywell International
Netflix
General Motors
Tenet Healthcare
Xcel Energy
Halliburton
MGM Resorts International
Atmos Energy
Molson Coors
Nvidia
PPL
American Electric Power
Starbucks
Dominion Resources
Mohawk Industries
DTE Energy
Amazon
Andersons
Kinder Morgan
Owens Corning
Devon Energy
DXC Technology
FirstEnergy
Ameren
Hartford Financial Services
Alaska Air Group
Darden Restaurants
Ally Financial
Sanmina-SCI
Builders FirstSource
McKesson
Occidental Petroleum
UGI
Westrock
AK Steel Holding
ABM Industries
Cliffs Natural Resources
AMR
Chesapeake Energy
HD Supply
Navistar International
Pioneer Natural Resources
Salesforce.com
Visteon

LINK