Lobbyists and PACs 'contribute' money and favors to most of our federal and state legislators. Where does that money and the capacity for those favors come from? Is it possible that we, the taxpayers, provide the funds that make their way through the Congress to special interests only to return to our legislators in the form of campaign contributions and special favors?
In any case, what do those lobbyists and PACs expect from our legislators for those investments? Could it be that our legislators assign certain priorities to their legislative activities based on the numbers of dollars and favors received from parties that stand to benefit from the actions of those legislators? Whose interests are legislators elected to serve? As is the custom in some countries, could it be that our legislators must be approached with what amounts to outright 'bribery' before they will entertain action on behalf of the constituents who elected them?
The money trail is not difficult to follow, has been documented with payment amounts and names and correlated to legislation that benefited the donors. Dick Morris' books, "Fleeced" and "Outrage" provide documented/footnoted evidence of the behaviors that recently resulted in the Fannie Mae fiasco. Small businesses, the backbone of the US economy, will suffer the consequences of those abuses while the Congress spreads trillions of dollars among its favored few. This, at the expense of existing and future taxpaying businesses and individuals.
The Emergency Economic Stabilization Act of 2008 [corporate welfare legislation] sets the stage for the distribution of more trillions of dollars to undeserving entities nationwide. Such corporate and government irresponsibility will damage the US economy in ways yet to be seen.
The US Dollar? How will the international community of investors view their investments in our economy? The dilution of our currency resulting from the mutually beneficial acts of the legislators and their beneficiaries will eventually have a dramatic and undesired effect on all of us. The manner in which the Emergency Economic Stabilization Act of 2008 was rushed through Congress, followed by the supposedly unintended administration, distribution and use of those funds should leave every taxpaying citizen cold, angry and fearful about the economic future of the United States of America.
Who were the victims of this catastrophe? You need not look far away, but contemplate the answer for only a few moments. It will take some serious strategic and financial planning by individuals and small businesses to successfully weather the effects of this unnecessary burden.
13 March 2010
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