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November 15, 2008
A Windfall Bailout
Justin Katz
As I pumped sub-$2.00-per-gallon gas into my work van this morning, shortly after having listened to a debate about a GM bailout on Cavuto this morning while doing the dishes, something occurred to me that I'm surprised to have not heard mentioned: There's a common theme that runs from the bailout mentality through the idea of a windfall profits tax. In effect, the philosophy dictates that the people who run and invest in businesses are only responsible for a range of their successes and failures. Any remuneration above that range should be claimed by the government, and any losses below it ought to be reimbursed.
There's a well-known S-word for such a view of commerce.
4:08 PM
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Well, I think there's something to that. But the liberal illuminati have a gross double standard about wealth: they don't want others to have it, but they're fine with their own.
Posted by: Gippergal at November 15, 2008 7:10 PM"Anything remuneration above that range should be claimed by the government, and anything losses below it ought to be reimbursed."
Good point.
In fact, it would be much easier, not to mention far preferable for a lot of reasons, if the gov't would just stay out.
Posted by: Monique at November 16, 2008 8:31 AM