The steps Trump should take on the virus crisis are clear. Why isn't he taking them?
A couple of thingsCruise ships, as well as hotel companies and airlines, have been mentioned as possible recipients of government bailouts through tax cuts or other help.Cruise ship companies such as Carnival Corp. and Royal Caribbean have been swimming in profits in recent years. Carnival recorded net income of $3.1 billion on revenue of $20.8 billion in 2019, a healthy profit margin of 15%. On this profit, it paid taxes of $71 million, or a mere 2.9%.
The cruise lines dodge strict regulations by registering their vessels under “flags of convenience” such as Panama and the Bahamas, which aren’t inclined to ride them too strictly. A Caribbean enforcement official lamented last year that some countries, such as the Bahamas, had onlyTighter regulations might not have averted the notable spread of coronavirus infections aboard cruise ships in recent weeks, but it’s proper to observe that these aren’t the first cases of mass illness.
Unlinking Social Security from its No. 1 revenue stream would weaken its finances and leave it vulnerable to political tampering, always a danger for programs serving the working class. This is pure revisionist history. The payroll tax cut was shoved down Obama’s throat in 2011 by a Republican House majority that flatly refused to deliver a working-class stimulus any other way.
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