Frederic Bastiat, writing two centuries ago, said it best:
"The law has come to be an instrument of injustice....the law defends plunder and participates in it...The present day delusion is an attempt to enrich everyone at the expense of everyone else; to make plunder universal under the pretense of organizing it."
Today's News item #1: "General Motors Corp. and Chrysler LLC summoned the prospect Tuesday of their collapse unless they get $7 billion in federal aid within six weeks -- part of a dramatic plea for a total of up to $39 billion to survive the worst economic crisis in the history of Detroit's signature industry."
(This, of course, is 14 billion more than they ASSURED us all that they needed a few months ago)
Today's News item #2 (With breaking details from ABC news, who, apparently, claims an 'in' with Democratic policy makers): "...Government subsidies for lenders to modify loans to homeowners who are struggling to make payments. The government would subsidize the difference.... A program through Fannie Mae and Freddie Mac for homeowners to refinance their mortgages if they owe more than their homes are worth..."
So, in a nutshell:
1) *I,* (like the majority of Amertican consumers) chose NOT to buy GM or Chrysler cars, but to purchase cars that met my needs as a consumer. Because I chose better cars by better manufactureres that offered me what I needed and wanted at a price I could afford...my government will now force me, via taxation, to keep afloat poor competitors whom I specifically did NOT choose on my own to support.
2) *I* chose to purchase a tiny house that i could afford, and refinanced when appropriate, to make sure that I was a responsible homeowner. Eight of us lived in an affordable two-bedroom house. I subdivided the living room to create a third bedroom. When my teens needed more room, i moved to sleeping on an unheated porch - because it was the responsible thing to do.
However, for all those who bought houses beyond their means, who threw caution to the wind in terms of adjustable rates, who lied on their applications...and for all the banks who make money on these loans...these people will keep their houses and their banks will continue to make money...because my government will now force ME to subsidize THEM through taxation.
Yes, I'm disgusted.
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