Mar 18 2009
Let’s not pay more taxes to regulate private companies turned public
AIG is the perfect example of why we shouldn’t allow the Federal government to use taxpayer’s money to fund the failing business, no matter what the repercussions on the economy. Fear of a crashing financial system is just a façade for Obama and his regime to use to scare Americans into giving up their personal freedom and power. We may be going through a normal economic cycle, there has always been ups and downs and supply always drives demand. When we allow a few bureaucrats to mess with that we are asking for a lot of trouble!
Now, we are paying tax dollars not only to bail out a private financial entity that ran itself into the ground, but we are also giving bonuses to the very people who bankrupted it! Then we listen as bureaucrats say they “Can’t do anything about it”. Now, guess what? We are going to be paying more taxes to create a regulatory department to regulate these bailouts and on top of that the entity that is bailed out (in this instance AIG) will also have to create another regulatory department within to comply and prove compliance with the regulations set up by the new gov’t entity. Does this make sense?
The creation of jobs isn’t even positive because the extra expense the private company must spend to create it will have to be made up somewhere else in the organization, probably in the form of loss of other jobs. The extra government jobs only cost the taxpayers more money to run.
If the federal government would have let this ride out on it’s own we’d be better off in the long run. And frankly, anything that is done in the short run is only prolonging the inevitable or is actually unnecessary because of other factors.
Tomorrow I’ll tell you why.
lmfao, I cant stand Obama but as far as giving up personal freedom, whatever the f- that means. Bush took it all. He tossed the constitution in the trash, there aint anything left for Obama to take. The deal is done. Dont underestimate the gravity of this AIG s-t. This is serious, Obama might be a dupe for the NSS but he is late for the door, Bush already closed the deal. The liberty we all claimed to hold so dear, is out the friggin window. It’s done brah. Over, terminos, fin, forget about it. Blame Obama if you like but the constitiution was in the trash when he took office.
It’s not so much that this is a normal fluctuation in the economy, but we had an inflated economy before (due to the Federal Reserve’s artificial lowering of interest rates during Alan Greenspan’s watch in the mid-90’s) so naturally we had to regress somewhat.
But you’re right, AIG is the perfect example of why we shouldn’t just give government handouts to ailing companies. Any corporation that gets termed too big to fail is more than likely just too big in general.