Free market or socialism?
Wall Street is the epitome of free-market capitalism, generating billions of dollars in salaries and profits for executives and shareholders over the past few years. Now these executives and shareholders are requesting a socialist-style government bailout. They claim without a trillion dollars in taxpayer support, a disaster for the U.S. and global economy is eminent.
The deals and risks they have engaged in are so complex that no one seems to know for sure the true costs and perils. But we are assured that we have to give them our money now. If this is true, these executives will gladly accept a pre-Bush presidential salary of $200,000 rather than the unemployment we are assured is inevitable without the bailout.
This is more than 15 times that of a person making the U.S. minimum wage, in spite of its liberal/socialist inspired spike to from $5.85 to $6.55 this July. Most socialist countries would deem this disparity in income excessive. But let’s be generous, rather than punitive, and allow these economic experts to evaluate the situation and choose if socialism or capitalism is the correct approach. Taxpayers must reject the worst of both worlds.
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