December 2008 - Posts

Rethinking the Auto Bailout


     I certainly agree with all who were against the bank bailout, as the banks work hand in hand with the Fed to create inflation and rob us of our money, but the auto industry is not in the same boat as the banking industry.

          In practice I am in favor of a Federal bailout of the American Auto industry though I would approach it from a different angle. What I am in favor of is not a bailout, but retribution. I can only imagine how much the Federal government has taken from the big three car makers in the form of taxes since he inception of the coorporate income tax, and I don't have a problem with theif giving his victim back his rightull belongings, infact I believe Justice demands it!

        The federal government should repay to the car makers their tax money from the last several years or even decades, agree not to tax them anymore, stop the regulations they have on the Auto industry, prohibit state regulation of the industry and their labor restrictions, and stop inflating the money supply both by the Fed and the fractional reserve banking system.

      I shared the first point of my plan with a statist coworker and he said that would be fine except that as soon as Ford and GM got their tax money back, other people would want their money back, and if the car companies were exempted from paying taxes, everyone else would want the same treatment. He went on and on and I was never able to layout the rest of my plan, but this in and of itself is a good first step, and the retort he gave as a reason not to do it, I hold as a great reason to do it.

       To see the tax money as one's own money, and not the government's is a great first step, and we have an oppurtunity to do it here.