# 001 February 27, 2009
This is the first of what I hope to be many informational newsletters that I will be writing. It’s not that I think my opinion is far better or superior to anyone else’s; I want to start dialogue and ideas with others. Your opinion and ideas interest me, as I hope mine interest you! Please, feel free to send me your comments and thoughts. I will print your thoughts and ideas in future newsletters.
What a time we are in today! The stock market is bouncing around like a drunk on a trampoline… and if you’ve ever seen a drunk on a trampoline then you know that’s more down than up! I guess it would be funny if it wasn’t our money and livelihood at stake. The Federal Government is getting more involved in private business every day… nationalize this, tamper with that – where in the world is this going. Some say “Atlas Shrugged” is coming to pass. This may be true, but I can’t seem to find Gaults Gulch, does anyone know where it is? I hope they aren’t excluding me.
I read today that Congress is considering new ways to get Americans to buy new cars by making the total cost of auto loans tax deductible, and adding rebate and incentive programs they are trying to persuade those with older vehicles to trade in on new cars… the bill is straightforward – anyone with a new auto loan will get a deduction for loans up to $49,500. The other proposal is for “environmental benefits” – if you sell and older car for scrap you would receive a voucher to aid in the purchase of a newer, more fuel efficient vehicle. Will this increase auto sales? Who knows. Of course, these are proposals, not laws – it’s anyone’s guess what this can look like when it gets out of committee. Since our Federal Government has now invested billions of tax dollars in Chrysler and GM they have a vested interest in the continued success of these companies.
Hey… I have an idea – Let’s get the government to bail out Kroger, Publix and Whole Foods – then we can get a tax break for buying new groceries… and we can turn in our old spoiled groceries for an “environmental tax credit”. The old groceries can be composted by a non-profit organization funded with our tax dollars, helping the environment and creating jobs… what more can you ask for – green, healthy and job creation. The perfect trifecta of government intervention (uh, I mean assistance).
It seems to me that the more we allow the Federal Government to involve itself in private business, industry and our lives we are allowing them to usurp our personal authority and responsibility. When we allow others authority over our financial future, aren’t we in turn relinquishing responsibility for our lives? Maybe, Americans think that in doing this (relinquishing authority) it frees us from the responsibility of our actions. Hmmm… or maybe we’re just not thinking!
Where do we go from here? I don’t know, but this I do know… this next couple of years will be very interesting, from many viewpoints.
If anyone of you have ever read Ludwig von Mises timeless essay “The Anti Capitalist Mentality” you may recognize the following concepts. The argument today is not about capitalism vs. socialism, that battle is being won handily (by the socialists). The argument has now moved to the playing field concerning the choice of the method by which the greatest possible portion of the income of the producers (non- government employed workers) may be distributed to the public [at large] at the whim or the ruling political class.
To quote Alexis de Tocqueville in his book “Democracy in the America’s”, “when the American public realizes they can vote themselves wealth from the public largesse, it will cease to be America as we know it.”
We no longer have an argument about having or not having a socialist state, the question is, “to what extent the socialist state?” The average American today considers receiving benefits from the “public largesse” not only possible, but also their endowed right. It’s very interesting that the very capitalistic system that creates wealth to make this expropriation possible is also the same system that is considered the worst of all evils by the socialists (excuse me, Democrats and Republicans). If not the capitalist system (free market), then what?
Wall Street Journal NEWS ALERT – Feb. 26, 2009
“President Obama delivered Congress a $3.6 trillion budget blueprint with a sharp shift toward expanded government activism, tax increases on affluent families and businesses and spending cuts targeted at those he says profited from ‘an era of profound irresponsibility.’”
I wonder if Citibank, Wachovia, J.P. Morgan, GM, Chrysler and the rest of the gang will be considered “affluent businesses”… or will they get another break at our expense?
With warmth and regards (as always),
Allen
To reply or comment:
http://voicecafe.blogspot.com/
or:
allenwells@mindspring.com
No comments:
Post a Comment