Let me start by saying that I am an avid capitalist. Let me also say that our economy is horribly broken. Today the U.S. House failed to pass the “Wall Street Bailout.” My first question is why should the taxpayer have to subsidize a private industry which has, through gross mismanagement, fraud, unmitigated greed, and deceit brought itself to the point where it is losing money? Will the taxpayers be forced to subsidize those companies’ losses, while the CEOs of those very same companies (you know, the ones responsible for the mismanagement, fraud, deceit, and greed) get $120 MILLION ‘Golden Parachutes?’ Excuse me – prison would seem a more fitting benefit for those who have managed to steal OUR benefits! Of course, those very same CEOs can control political donation pursestrings which make every politician salivate in Pavlovian response. Is it any wonder that our government wants US (the taxpayer) to subsidize the very same companies which have wreaked such havoc on the economy.
And just how do we know that havoc was wreaked on the economy at all? Will you wake up tomorrow in abject poverty? I doubt it. Will the place where you work be boarded up and deserted? I doubt it. No, we know that we must ‘Do Something’ to help those poor defenseless multi-trillion dollar companies because the government tells us that havoc has been wrought through no fault of those same poor defenseless trillion dollar conglomerates, and that we (the taxpayer) must, under duress and penalty of law, give them even more money to help them out because they frittered away all the money that we voluntarily gave them.
I haven’t seen the details of the “Subsidize the Trillionaire” Bill, but it would appear to totter somewhere between the Marshall Plan and National Socialism. Maybe Bush II will ask China to help? After all – they need our economy to function so they can sell us more toxic products.