The Democrats, who have not yet stopped campaigning against George W. Bush, loved to characterize his administration, as well as the leadership of the Republican controlled Congress, as weighing too heavily on the side of corporate welfare. Yet the so called 'corporate welfare' doled out under the Republicans is far overshadowed by the massive corporate bailouts which the Democrats have approved.
Hypocritical? Certainly! But it's much more than that. The devil, as they say, is in the details. Under the Republicans, 'corporate welfare', more often than not, took the form of tax breaks. Where is the advantage in that? Democrats much prefer to tax the crap out of corporations, and then, offer the money back to them with stings attached. This current economic downturn has presented the Democrats with the opportunity to do just that; ad nauseum.
The latest example of this totalitarian practice has been reported by Mike Allen at Politico. Having already received $18 billion in bailout money, GM finds itself in a position of having to asking for more. Operating much like organizations which have been prosecuted under RICO statutes, Comrade Obama has given GM CEO Rick Wagoner an offer which he couldn't refuse.
Wagoner's departure is one of the remarkable strings attached to a new aid package the administration plans to offer GM.
The White House confirmed Wagoner was leaving at the government's behest after The Associated Press reported his immediate departure, without giving a reason.
On Monday, President Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler.
Industry sources had said the White House planned very tough medicine, which turned out to be an understatement. And it went to the very top. The measures to be imposed by the government will have a dramatic effect on workers, unions, suppliers, retirees and the communities where plants are located, the sources said.
Government money always comes with government strings attached. Between the confiscatory taxes and the totalitarian strings attached to government assistance, there has never been a better reason for Atlas to shrug.
Troublesome Bible Examples
7 years ago