Go Back   SZONE.US Forums > Current Events > News > The Heritage Foundation

The Heritage Foundation Since its founding in 1973, The Heritage Foundation has served as a research and educational institute -- a think tank -- whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense

The Heritage Foundation

There Is Nothing Fair About Obama?s Wall Street Bailout Tax

Thread Tools Search this Thread Rate Thread
Unread 04.01.10, 03:09 PM
@Heritage @Heritage is offline
Join Date: 06.09
Posts: 36,410
There Is Nothing Fair About Obama?s Wall Street Bailout Tax

On 04.01.10 11:30 AM posted by Mike Brownfield

Treasury Secretary Timothy Geithner appeared in an interview on The Today Show this morning and decried the “unfairness” of an economy where businesses on Wall Street are recovering, but where Americans still don’t have jobs. Quoth Geithner: “It’s not fair, it’s deeply unfair, and [Americans] should be angry about it.”

The concern over “unfairness” is the unsettling ethos underlying President Obama’s economic agenda and, specifically, his proposed tax on America’s banks, intended to recoup dollars shelled out under the bailout program.

President Obama aims to tax banks who received bailout money, despite the fact that they’ve already paid back the bailout money. That policy might “feel” good or sound good to those who are angry at Wall Street, but in practice it isn’t good. Consumers – those same unemployed Americans whose pain Geithner so deeply feels –*will be the ones who pay that penalty.

Despite Geithner’s concern over being “fair,” the president is awfully willing to accept unfairness in order to achieve his political ends. The bank tax, itself, is patently unfair. Firms who already paid-back bailout dollars will be taxed in order to “pay for” the bailout, but firms who haven’t repaid bailout dollars (General Motors, Chrysler, Fannie Mae, Freddie Mac)*get off scot free.

Then there’s the inherent unfairness of the backroom deals secured to pass the president’s health care plan. The president picked winners and losers to win the votes he needed. There’s nothing fair about giving away the farm to a select few, while others are left out in the cold.

Fairness is defined as “being free from self-interest, prejudice, or favoritism.” That’s not the kind of treatment the president is doling out.*It’s a paradox of logic, it’s a philosophical compass gone haywire, and it’s what’s guiding the president’s economic policies.

Reply With Quote

bailout, fair, obamas, street, wall

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Rate This Thread
Rate This Thread:

All times are GMT -8. The time now is 03:35 PM.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Copyright ©2007 - 20017 SZONE.US All rights reserved