1. "Taxpayers like me" include you, me, the other employees at said company, and everyone else that pays taxes - the company in question and all other companies as well. The money comes from taxes already paid.
2. The sums involved wouldn't make a noticeable difference to your taxes since it's split several million ways.
3. How is protecting the employees of a failing company "propping up" said company? Either it's bankrupt and is going down, or it can recover and then has to pay back the money the government spent on employee salaries.
On a side note, I find it quite amazing that the McCarthy-era "red scare" still lives and thrives in 21st century America...