As quoted by the Wall Street Journal, House Budget Chairman Paul Ryan said:
“How can we save billions of dollars from unjustified subsidy and entitlement programs, if we can’t get corporate America off the dole?
They were making the point that all of us should agree with at least one of the points the incoherent ‘Occupy Wall Street’ dunces have made, that corporate welfare must stop. And I would add, as well as the subsidies to organized labor that prevents the individual from marketing his own labor and the private business man from creating jobs.
I think that most of us would agree that these subsidies and tax breaks like the ones that encourage the growing of corn for ethanol. This, for instance, takes money from us through taxes, then forces the price up for everything else we purchase that uses corn and corns related products.
This includes the bailouts of the likes of Fannie Mae, Freddie Mac, General Motors, Chrysler, Amtrak and the other companies that have been picked by politicians, not the free market. Of course, keep in mind, had the government stayed out of business in the first place, many of the problems we have with the financial system, would not exist in the first place. Taking Fannie Mae and Freddie Mac, has the risk/reward underwriting been left in place, they would not have the problems they have now but…..politicians decided that everyone should have a ‘home’, whether they could afford it or not so underwriting rules were made and programs such as the Community Reinvestment Act were passed and banks and mortgage companies were blackmailed into making and purchasing loans that they never would have made or bought in the first place.
Draw the conclusion that 99% of our current problems were induced by the government, not business.
The other 1% were the thieves and crook found in business, which is a lower percentage than is found in congress.