Fossil fuel companies in the US received billions of dollars in tax benefits through government coronavirus relief measures, but laid off tens of thousands of workers, figures show.
A group of 77 firms received $8.2bn in tax-code changes under the massive stimulus bill passed by Congress last last year, and some benefited from the paycheck protection program. Despite this, almost every firm laid off workers, with over 58,000 people losing their jobs. (The Guardian 4/2/21)
My comment: I believe that Epicurus, were he alive today, would protest this cruel and selfish policy on the part of CEOs towards 58,000 people, many living on a knife edge, I have no doubt. Restoration of faith in government is sorely needed, and one thing is essential: the CEOs have to pay a higher proportion of their income in tax – and actually pay it. They are pampered by politicians who want their campaign money. In my neck of the woods this is de facto corruption. It goes to much of what is rotten in the system; party affiliation is irrelevant. We all ( mostly) lose from the present system.