Why Bail Out Private Chrysler?

  • Thread starter Thread starter bobanalyst
  • Start date Start date
B

bobanalyst

Guest
Chrysler was brought by a group of investor, what's the direct benefit of United States tax payer's money given to a non-US company?
 
1. It's not a gift, it's a loan. http://www.chryslerllc.com/en/
2. 80.1% is owned by Cerberus Capital Management, a multi-national corporation headquartered in New York City. Only 19.9% is owned by Daimler AG.

I'm not saying the above facts justify the loan, but let's be clear about the situation.

3. The direct benefits to US taxpayers will be that more US citizens will be paying taxes, because they will have jobs, so correspondingly fewer Welfare-type benefits will need to be paid from our taxes for those workers. Presumably, we will all benefit from the boost to the economy, the availability of better-quality, more fuel-efficient, American-made cars and the return on the loans.
 
Back
Top