A $50 Billion Airline Bailout for Warren Buffett
Why do Republicans want to bail out a top Democrat funder?
Berkshire Hathaway now owns 11% of Delta Airlines, and between 8% and 10% of United Airlines, Southwest Airlines, and American Airlines. When you’re squeezed into a 17-inch airline seat, it’s because a major funder of Democrat political causes is extracting maximum value from his investment.
And now Airlines for America, whose major members include American, Delta, United, and Southwest, along with lesser airlines, want a $50 billion bailout. That includes $25 billion in grants and $25 billion in loans and tax relief. While the airlines warn about an economic catastrophe, Buffett isn’t worried.
If the major airlines were really about to go down, Buffett would be trying to get everything out, instead of getting in deeper. The billionaire is betting that Berkshire Hathaway will emerge in a stronger position after the bailouts and the surge of optimism that will follow the lifting of the coronavirus curfews.
He’s almost certainly right.
Warren Buffett is no stranger to bailouts. In 2010, he penned a fake folksy New York Times op-ed thanking “Uncle Sam” from his nephew “Warren”. Later that year, he became a key propaganda figure in Obama’s push to raise taxes. By the winter of the year, Obama had placed the Presidential Medal of Freedom around the neck of the man who had fundraised for him and acted as his financial adviser.
Republicans lobbying for an airline bailout are literally fighting to secure taxpayer money that will then be used to fund their political opponents. It’s an insane act of fiscal political suicide.
Beyond political donations, Buffett has spent millions covertly funding abortion activism. Due to his obsessive secrecy, the full scope of his abortion funding is unknown.
It’s a revelation that clashes with his folksy image and invocation of small-town values. Buffett is just another version of George Soros.