Elias presents ... a worm!    Thoughts on family, philosophy,
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Wednesday, November 19, 2008

Bailouts: impractical and immoral

Sent to my congressmen today. Find yours here.
Do not bail out any more failing companies with tax receipts.

Bailouts are not practical, they are financially destructive. Bankruptcy is a normal part of a free economy, because it allows capital to move from malinvestments to successful enterprises. Giving life-support to a failing company wastes money on a non-productive venture -- money that could be put to productive use, including the creation of viable jobs, at companies chosen by the free market for their ability to create the most valuable goods and services.

But more importantly, bailouts are immoral and statist. Appropriating taxpayer money to a private company is simply the road to fascism, in which the government controls the fundamentals of the economy, thereby violating every individual's right to freely pursue happiness.


Brad Williams
North Portland



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