I opposed the bailout from the beginning, in spite of what was said about what it would do. Looking back, I believe I was right. Nothing has changed since it was signed into law except the Treasury Department has new powers; powers it shouldn’t have.
Companies are lining up to get their share of the bailout fund and the treasury will likely call for more funds. None of these funds are going to be put into the hands of consumers. Instead they will be used to prop up failing businesses which are failing for various reasons. This is not capitalism. Sorry, but, it isn’t.
People are human and have some fault or another. Greed is one of those. Covetousness and envy are two others. Others are wrath, sloth, pride, and gluttony. Any one of these can lead to actions that are not good for the person or the people in his environment. When I hear talk about redistributing the wealth I get a picture in my mind of people who have worked for a wage, used those wages to buy goods or services, and now want their wages back because the people who received them are too rich.
In the real world it doesn’t happen quite that way. The government does it for you under the guise of giving back to the people who aren’t rich. The problem with that is the government plays the “middle man.” Anybody who knows anything about manufacturing, goods and services, knows the middle man has his cut, too. Bulk wholesale prices are far below the retail price, so when you buy those goods and services you’re paying for a lot of jobs on the way back to the manufacturer who initially offered the goods. So, the government becomes the middle man for redistributing what others created; in this instance wealth.
As the richer sectors of America are required to redistribute their wealth via the government, the government is the only one growing richer. Its cut of the wealth comes first. Unfortunately, they’re the greediest of all. The more they have, the more they want. What gets spent down is often the tiniest percentage of that wealth actually in the hands of the people for whom it was garnered in the first place. Rather than trickle down prosperity, we have trickle down poverty.
There is no longer any incentive for the rich to keep creating wealth as it is confiscated by the government. If they’re not creeating wealth, they’re also not offering jobs and expanding the tools by which they create that wealth. The rich become less rich as result, not just from higher taxation, but from the lack of wealth creation. It can be taxed only once… at least until they die and then it will be taxed again.
People are still losing jobs left and right. The government still plans morehardship adding to the economic woes and expects everyone to look to it for the answers. It’s funny how we’re supposed to look to a body of people, most of whom have never created any wealth at all, except for themselves, for the answers to prosperity.