I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.
-- Winston Churchill
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Daniel
Daniel 7 years old
Tyler
Tyler 5 years
Jonathan
Jonathan 2 years
Olivia
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2 comments:
It's interesting to see your thoughts on this. I guess I would just ask what your ideal solution would be. Tax cuts haven't worked, so I definitely don't think that's a valid avenue...
I can’t speak for Jen, but I personally believe that we should let the free market work without interference and let businesses fail. “And if thy right eye offend thee, pluck it out, and cast it from thee: for it is profitable for thee that one of thy members should perish, and not that thy whole body should be cast into hell.
And if thy right hand offend thee, cut it off, and cast it from thee: for it is profitable for thee that one of thy members should perish, and not that thy whole body should be cast into hell.” – Matthew 5:29-30.
The amount of moral hazard in this country has become a leviathan. Businesses, banks, and the like have assumed a “too big to fail” mentality that gets reinforced with each new bailout. If you want these guys to adopt policies that are less risky you don’t need more government regulation, you need to let some of them go belly-up and the rest will get the message real fast.
Furthermore, we shouldn’t be so afraid of bankruptcies. Bankruptcies allow restructuring and cleansing of the system. The assets are not lost, but are auctioned off and reallocated. They are handled more responsibly.
If we continue to throw money at bad businesses (e.g. AIG) we are just prolonging the process at taxpayers’ expense, thereby weakening us all.
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