Let me get this straight. Last week the Feds issued a multi-million dollar bail out to the fifth largest banking lender in the country Bear Stearns, which is in and of itself a form of socialism-- using tax payer money to subsidize business--, but when a candidate talks about helping those who are hurt or struggling because of Bear Stearns' predatory lending, and ultimately very stupid management of other peoples money, they're huddling the masses bordering communism. So it's okay to use tax payer money to bail out irresponsible banks but not individuals who are victims of that bank's lending practices and let's not dare call bailing out a bank communism. And this my friends is the Republican world we currently live in. No wonder our economy is collapsing.
*Update:
Here's more noncommunist logic from the Bush White House:
Ms. Perino must be confusing rebates with bailouts. What Bear Stearn received was a taxpayer funded bailout, or in The Economist's language a communist entitlement program for big business. A tax rebate is just the opposite. It's tax payer money going back to the tax payer and not to a social welfare system such as bailing out big business when they mismanage their finances. If a Democrat had proposed the use of tax dollars to be used to bail out people for mismanagement of finances the right wing would have been all over that. But to Bush bailing out big business is a boost of liquidity.QUESTION: But people who are facing, say, foreclosures, individuals, the little guys who are facing their foreclosure, looking at the big guys getting government, if not brokered, certainly, they’re overseeing deals that are engineered to, sort of, keep the big-picture financial community afloat. And they’re saying, Well, where’s my boost of liquidity?
PERINO: They’re going to get that boost of liquidity in the form of a stimulus package and a tax rebate that’s coming to them the second week of May.
QUESTION: But that’s not going to save their houses.
2 comments:
When I defend the feds for this, then you can accuse me of supporting socialism/communism, ok? :)
I'm not sure that I would oppose every instance of government subsidizing business, depending on the way it was done. Since I'm a Republican, I obviously support tax breaks for businesses. But I'm not sure how I feel about government bailouts. I do think that there are circumstances where one could make a good case for it, but yeah, I'm sympathetic to your argument there.
It is interesting that you use those two words (socialism/communism)as synonyms though. Not many Democrats do that.
Lisa I'm glad you can see how ridiculous The Economist's assertion that Obama is huddling the masses, i.e., spouting communist notions is. Especially considering the Republican controlled federal reserve is doing the very same thing The Economists chides the Dems for.
You do say that the Dems, including Huckabee, claim government can fix "inequities that government was never meant to fix." And here is the Republican controlled government doing exactly what you say can't be fixed. That might not be defending the feds but it's sure not arguing against it either.
Tax breaks is a totally different matter. Giving them tax breaks and bailing them out at the same time doesn't do much good for those of us who pay taxes, however.
I'm not sure I use socialism/communism as synonyms. Socialism eventually leads to communism but there is a stark difference between the two. I'm glad you picked up on that though. Most people probably wouldn't :)
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