When the pandemic is over in a year or so, we’re going to be a different society. Long-held traditions may change and the way we do business could be altered. More people will be comfortable with technology than they are right now. Zoom or some other video conferencing software is here to stay. Venmo or Paypal or some other way to electronically transfer money will join cash and debit cards as the preferred method of payment. A lot of other habits, technologies and preferences will develop over the next few months.
So as the government decides how to prop up the economy, Congress should put more money directly into the pockets of families instead of the shareholders of corporations. Mitch McConnell is angling to subsidize big business to the tune of billions of dollars for industries that may find themselves dramatically altered even after this pandemic is over. We should make sure that people don’t lose houses and savings while allowing them to determine where to put the money. That’s always been the argument of free marketeers in the past. It should be the same now.
In particular, we shouldn’t give the airlines industry a huge bailout. I suspect it’s an industry that will take as big a hit as anybody once this situation is over. Companies are finding out they can do a lot of business over the internet and can save on big travel budgets. Travel won’t go away completed but I suspect it will be down significantly.
In addition, airlines have been bad corporate citizens that get huge breaks. A decade or so ago when gas prices skyrocketed they claimed the needed to add baggage fees to keep from going under. Once gas prices went down, they still charged exorbitantly for luggage. Then they cut the space between seats to make even more money. Airline travel is remarkably uncomfortable and expensive here but, without a rail system, they’re the only option other than driving.
Now that I’m done with that rant, back to my point. Put money in the pockets of people and families. Let them figure out where to spend it. Money for businesses should go to the small businesses that tend to be better corporate citizens and add to the life of communities. We bailed out multinationals in the last recession and they did little to show their appreciation, shoveling money to shareholders and giving huge bonuses to corporate executives.
Thomas Mills is the founder and publisher of PoliticsNC.com. Before beginning PoliticsNC, Thomas spent twenty years as a political and public affairs consultant. Learn more >
Thomas, I realize you wrote the above oolumn a few days. I am just gettiing around to reading it. Thank you. Your rant is much appreciated. I hope people and elected officials get it and push for indikviduals and families to benefit from bailouts, not trickld-down corporations that don’t care one once of urine for the country or democracy.