America Beyond The Point Of No Return
By Doug Patton
September 23, 2008
Page 2 of 2
The frightening thing about the trillion dollar bailout is that everyone seems so willing to go along with it. It is as though we have finally accepted the idea that government is the one entity that has the resources to pull off such a plan. Well, guess what. Government doesn't have a nickel. Government is in the hole to the tune of ten trillion dollars. (Put that number in your pipe and fathom it!) But government has two things no one else has. Government has the power to print money and the power to raise taxes.
Alternatives may yet see the light of day in Congress. Perhaps in this hour of crisis, our representatives will see that the private sector could probably pull itself out of this with some very favorable tax policy. At least try repealing the capital gains tax to see if private firms wouldn't consider buying up these companies.
Or better yet, how about the Fair Tax, so that the billions in offshore accounts can come flooding back into the economy without fear of being sacked by the feds?
Those who for years have predicted America's slide into the cesspool of collectivism have been vindicated by the taxpayer-financed bailout of the mortgage and insurance industry. In essence and in fact, the United States government has nationalized these industries. Hugo Chavez no doubt is amused.
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Doug Patton is a freelance columnist who has served as a political speechwriter and public policy advisor. His weekly columns are published in newspapers across the country and on selected Internet web sites, including Human Events Online, TheConservativeVoice.com and GOPUSA.com, where he is a senior writer and state editor. Readers may e-mail him at dougpatton@cox.net.
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Note -- The opinions expressed in this column are those of the author and do not necessarily reflect the opinions, views, and/or philosophy of GOPUSA. >> Back -- Page 1 2
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