Bakuto
Saying: There are no dumb questions
Ranger Corollary: There are only dumb people asking
I'm on the top of the world
looking down on creation
--Top of the World, The Carpenters
________________
President Obama was holding forth on the news a few mornings ago about the banks who would soon be paying back $16+ Billion to the U.S., and how the government will be making a $1.7 Billion profit (White House Proposes New Pay Legislation). Mr. Obama talks more, and in that old-timey soap box monotone, than Joe Biden, Dick Cheney and a Baptist minister combined -- no mean feat.
While WaPo writer Krauthammer is usually off the mark, he nailed it on this one, describing our "philosopher-king" Obama:
Yup. And when did the U.S. government become a profit-making venture? Does this transform the U.S. experience into a new Form of Capitalism? Where does the U.S. Constitution mention turning a buck for profit?
Surely a government raises revenue through taxes and tariffs, but profit-making is not a government function with which Ranger is familiar. Where is the constitutional basis for such activity?
Since the profit is to be generated as a good or service, who will be responible for paying taxes on this profit?
Ranger Corollary: There are only dumb people asking
I'm on the top of the world
looking down on creation
--Top of the World, The Carpenters
________________
President Obama was holding forth on the news a few mornings ago about the banks who would soon be paying back $16+ Billion to the U.S., and how the government will be making a $1.7 Billion profit (White House Proposes New Pay Legislation). Mr. Obama talks more, and in that old-timey soap box monotone, than Joe Biden, Dick Cheney and a Baptist minister combined -- no mean feat.
While WaPo writer Krauthammer is usually off the mark, he nailed it on this one, describing our "philosopher-king" Obama:
"[h]e does position himself as hovering above mere mortals, mere country, to gaze benignly upon the darkling plain beneath him where ignorant armies clash by night, blind to the common humanity that only he can see. Traveling the world, he brings the gospel of understanding and godly forbearance. We have all sinned against each other. We must now look beyond that and walk together to the sunny uplands of comity and understanding. He shall guide you (Obama Hovers from On High)."
Yup. And when did the U.S. government become a profit-making venture? Does this transform the U.S. experience into a new Form of Capitalism? Where does the U.S. Constitution mention turning a buck for profit?
Surely a government raises revenue through taxes and tariffs, but profit-making is not a government function with which Ranger is familiar. Where is the constitutional basis for such activity?
Since the profit is to be generated as a good or service, who will be responible for paying taxes on this profit?
Labels: bakuto, bank bailouts, u.s. government profiteering
posted by rangeragainstwar at 7:26 PM
3 Comments:
Didn't I read that the money being paid back will be placed into a 'slush' fund for future bailouts? Just waiting for newspapers, magazine and TV to request government bailout cash. One can only imagine the level of control that will accompany the dough.
The convergence of economy and government. Crispin Sartwell calls it squishy totalitarianism.
well i do think that since the American People had to bail-out the mighty "private sector".... those gods of commerce, finance laissez faire economics and free market trade, that the American People should get a cut on the profits.
gods like Milton Friedman
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