Why does the federal government feel the need to bail out unsuccessful larger private companies? They have claimed it was to save our nation’s economy by preventing the loss of thousands of jobs and keeping us from falling into a massive recession.
It obviously has not worked. The employees and management of the corporations that have received bailouts have squandered the money on personal purchases. The Fair Tax would have penalized them for their reckless spending.
Most importantly, the Fair Tax system will return the power to us average Americans. In our capitalistic economy, we are supposed to have the power to decide which companies succeed and which ones don’t. Not our government’s decision to bail out some companies and not others.
Most average Americans are angry as hell about the corporate bailouts. What can we do to protest them? Buy foreign cars. Don’t support any of the companies who have been bailed out including Freddie and Fannie. Refuse to give any of these corporations any money they might claim you owe them. They should be bankrupt or nonexistent at the present time, therefore unable to collect on past debts. They were saved from that fate by being given our tax dollars.
Washington’s economic policy needs to change if we are to remain a capitalistic democracy. We should all exercise our rights not to support any private corporation that received preferential federal treatment over any other private corporation.
- Posted in: Economics