The last two weeks have been very good for Senator Rand Paul’s image among conservatives. The firebrand has made news on multiple fronts, particularly in his ongoing war against the fraudulent “Dr” Anthony Fauci. In one Tweet, he added to his credentials by going after billionaire Jeff Bezos over a proposed bailout.
Cry me a river, Jeff Bezos lost out on a space contract so now Senate inserts a Bezos bailout provision for $10 billion for his space company??
Isn’t there some remnant of decency in Congress to oppose bailouts for billionaires?
— Senator Rand Paul (@RandPaul) May 26, 2021
“Cry me a river, Jeff Bezos lost out on a space contract so now Senate inserts a Bezos bailout provision for $10 billion for his space company?? Isn’t there some remnant of decency in Congress to oppose bailouts for billionaires?” he Tweeted.
According to The Federalist:
The Amazon CEO and owner of the Washington Post also owns Blue Origin, an aerospace manufacturer that lost a multibillion dollar NASA contract to Elon Musk’s SpaceX. However, the Senate is considering legislation that would give Blue Origin a $10 billion dollar contract through an amendment tacked onto the Endless Frontier Act. The bill is meant to augment our science and technology advancements as the United States faces pressure to compete against China.
As I posted on Twitter, this is incomprehensible.
Bailouts are bad.
Bailouts of Jeff Bezos are incomprehensible.
What is the Senate thinking?
Is the Senate thinking? https://t.co/NznoK3grmn
— JD Rucker (@JDRucker) May 27, 2021
I understand there is more at stake than just protecting Bezos’ billions. Technology needs to be nurtured, not hampered by government, and while Bezos might not need another yacht the people who work for Blue Origin may be struggling. But that’s business. Bailouts of failing businesses almost never work out as planned, and when I say “almost” it’s only because I haven’t researched every bailout. There may be one floating around out there that was successful but generally speaking they end up doing very little for the workers or consumers and a whole lot for the executives who prompted the need for a bailout in the first place.
The timing of this proposed bill is terrible with Bezos in the midst of purchasing MGM. According to The Federalist:
Hawley also criticized Amazon’s purchase of MGM, a media company and film studio, which the tech company bought for $8.45 billion. Hawley said the purchase “should not go through,” arguing that Amazon’s ownership of “e-commerce, shipping, groceries & the cloud” renders them a monopoly, and therefore should be barred from further expanding into owning a major Hollywood studio.
Amazon already owns a production company, Amazon Studios, which creates original content for streaming service Prime Video. Their purchase of the company which owns the “Rocky” and “James Bond” franchises would be less of an expansion into a new industry, but another case of fewer companies controlling all of the entertainment content.
This sale should not go through. @amazon is already a monopoly platform that owns e-commerce, shipping, groceries & the cloud. They shouldn’t be permitted to buy anything else. Period. https://t.co/YyOdQ6iWPQ
— Josh Hawley (@HawleyMO) May 26, 2021
If a single Republican votes to give Jeff Bezos a penny of bailout money, they need to removed immediately. Crony capitalism happens from both sides of the aisle, but this sort of deal has Democrats’ Big Tech love written all over it.