In deep financial trouble because of poor management and reckless union contracts, General Motors accepted a taxpayer-funded bailout in 2009. The federal government became a partial owner of the company.
Today, GM still owes taxpayers $26 billion from the bailout.
Yet it is giving “profit-sharing” checks of up to $4,000 each to 45,000 employees.
We don’t begrudge the workers their pay, and we want GM to prosper. But shouldn’t the taxpayers who bailed the company out be the first group to “share” GM’s “profits”?