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Lowering gas prices, securing the border and bringing law and order back to america. the only way you are going to could that, senator sanders, abandon the agenda you have charted for america because it is not working. well, let s talk about gas prices because you are right. they are outrageously high. filled up in vermont, 5.05 a gallon. meanwhile, the major oil companies made $35 billion in profit in the first quarter of this year. and at the end of the year, it is estimated they are going to give $88 billion in stock buy-backs to their wealthy shareholders. so i do think we have to do something about the outrageously high price of gas. i think the president should ....
Buy backs as a result. nbc news senior national politics reporter john allen, he and i first reported this story to you last year. he joins me now. john. companies that do stock buy backs, huge win for shareholders and executives. that s what you do when you have so much cash on hand, you have nothing else to do with it. but this company wanted it both ways. they said they were struggling, they were a small business, they needed ppp money, forgivable loan from the government. they got that money. then got a huge government contract. now they re in fat city doing stock buy backs. is anybody investigating this? i am not aware of any investigation by the sec. they produced syringes for the federal government, part of operation warp speed. trump administration on the way out the door started a second contract for them, another 50 or $60 million. what we see as you point out, stock buy back is going on. ....
Virtually nothing he could do to lose my support. in many ways on something like this their support for him lies in the cultural not in the economic realm and given that strong support this many ways i think he has calculated rightly that he has something of a blank check here. meaning attracting lebron james is what s helping him. let me come back to in a second but the meat of the matter with respect to this capital gains tax cut is the argument is it will create more available capital for businesses to invest and create more jobs. same argument that was used for the larger scale tax cut. all the money is being used for stock buy backs, dividend increases, mergers and acquisitions not so much wages and jobs. we have a short j a of labor and a sur plaus of capital, we don t need more capital. we have 6.6 million open jobs, 6.3 million unemployed and a skills gap that needs to be addressed. none of this does this which is not only costly but doesn t address the underlying problems. ....
A potential boon for their, excuse me, congressional campaigns whether for house or for senate. do you think that independent voters on the ground will be willing to blame the president for this? we ve talked to an awful will the of supporters. jo mentioned vaughn hillyard who has been doing a lot of reporting for us. while this may be difficult for me, i think the president is trying to do the right thing. i think they re going to have problems. you don t have to take my word for it. look how republicans are reacting to this. republicans in iowa, in kansas, in places where do you think they re doing that because they think they re going to lose elections? yes. or because they oppose i think politicians raise alarm bells because they think things are happening that are going to cost them elections. i think two things are happening. one is you have the huge tax cuts that were given to corporations. none of those benefits were passed down to taxpayers. none of them were pas ....
Do you think that independent voters on the ground will be willing to blame the president for this? we ve talked to an awful will the of supporters. jo mentioned vaughn hillyard who has been doing a lot of reporting for us. while this may be difficult for me, i think the president is trying to do the right thing. i think they re going to have problems. you don t have to take my word for it. look how republicans are reacting to this. republicans in iowa, in kansas, in places where do you think they re doing that because they think they re going to lose elections? yes. or because they oppose i think politicians raise alarm bells because they think things are happening that are going to cost them elections. i think two things are happening. one is you have the huge tax cuts that were given to corporations. none of those benefits were passed down to taxpayers. none of them were passed down to employees. they were passed to stock buy backs. now you have tariffs and where are a ....