Archive for the ‘Tim Egan’ Category

Beggar’s Banquet: a note on bailouts to the NYT’s Tim Egan

November 28th, 2008 No comments

Timothy Egan, reporter, acclaimed book author and current columnist at the New York Times, posted an honest and understandably  confused piece last week, in which he called for a temporary end to the frenzy of Bush-era socializations and wealth-transfers – so at least Obama will have a chance to try sometihing REALLY helpful when he comes into office.

Here’s what I had to say to Tim in comments:

Tim, the right answer is the old answer – no bailouts. 

Let firms, towns and states with problems take care of them themselves.  Unless we are talking about a voluntary community effort, bailouts are just a way for politicians to look good while they move money from those who make money to those who lose it, and is a further drag on investment and economic growth.

So would be a “green” jobs plan by Obama – far better to level the playing filed by eliminating ALL energy subsidies than to have the corrupting and senseless distortions we get from the hand of government.  Perhaps a carbon tax at the production end could be justified, but only if the revenues were rebated to citizens pro rata to provide incentives while avoiding regressive pain [and pork].

The government’s efforts to “solve” the problems that it is even now encouraging by socializing risk show promise only of paralyzing personal responsibility and initiative, sucking up capital and recreating the Great Depression.

Categories: bailouts, green jobs, obama, Tim Egan Tags: