Central North Carolina | "Does not change the fact that you can't refute the fact that farmers received more subsidies in one year than GM ever got in bailout money. "
Say what?
https://thehill.com/blogs/congress-blog/economy-budget/347836-farm-subsidies-helping-the-rich-at-the-expense-of-the
Average 20 billion for farmers
https://money.cnn.com/2011/02/23/news/companies/gm_bailout/index.htm
I’ll give you a hint. It’s not the 10 billion Obama claims it is. It’s not 20 billion. Or thirty billion. It’s nearly 50 billion dollars because most of the costs were hidden from taxpayers. We spent 49 billion dollars to bail out a car manufacturer with a 28 billion dollar market cap. In other words, we spent 49 billion to save a company worth 28 billion. (The current market cap is 57 billion dollars)
Read the article and see the tax and other giveaways in addition to 10 billion cash.
Then there was the bailout of GMAC their financing unit.
https://www.businessinsider.com/how-the-gm-bailout-was-the-biggest-scam-of-them-all-2010-2
All this is in addition to the debt not paid to other taxpayers/creditors to the tune of 50 billion.
Edited by Douglas 12/5/2018 08:39
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