Quote:
Originally Posted by BBQMan
This ends when different special interest groups discover that they can no longer talk congress into giving them money. Congress is the locus of the problem. They are the ones who authorize bailouts, tax incentives, earned income tax credits, etc. They are the ones who put barriers in front of our automobile companies being fully competitive, they are the ones who started this crazy system of lending to people who cannot repay and they are the ones who stand squarely in opposition to a reasonable and understandable tax system - we desperately need either the 'Fair Tax' or the 'Flat Tax.'
My great concern is that this can only be solved through either revolution or a dictatorship. These are the normal paths when a nation's economy has been destroyed.
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When one group gets Congress to bail them out with taxpayer money, ALL groups eventually try the same path. After all, "the other guy got it, so why not me" is what's dumped on Congress (with good reason) who cannot say no to pools of voters.
The "big" bailout was destined to create more, especially when it was "we gotta do this now, without thought, debate or examination of options." Hurry-up deals usually backfire in some fashion, and the bailout may have looked good at the onset, but there was no thought to the downstream effect. Once again, the "Law of Unintended Consequences" proved to reign supreme.
So, after being impulsive once, let us hope we don't keep the dumb streak going. I'm not against bailouts, but they need to be smart bailouts. Anything that puts money back into consumers pockets to encourage them to buy Chinese-made goods, or European-made goods, or Anywhere-Else-made goods does nothing to keep the money within the shores and circulating here to create more jobs of all kinds. That's why I like the tax-deduction-for-US-Goods-Purchase approach - everyone in the country wins!