In The News

By RICHARD ROSS
Subsidizing irresponsibility is just plain stupid. Why are the taxpayers subsidizing investment, housing, financial, and incompetent management losses? The same people who are demanding government help because they are losing money have historically been the most vocal opponents of government intervention and regulation. "Keep the government out of our business and let the free market thrive" is the mantra we have been hearing for years. I guess free-market capitalism only applies when profits are being made. When losses are incurred, guess who has their hand out?

Most of these "losses" are not really losses, either. The money is still there; it has just changed hands, from our hands to theirs. Financiers and bankers, real estate moguls, CEOs and the myriad of managers below them, the UAW — all these people have "our" money in one form or another. They just need more of "our" money to maintain the lifestyle to which they have become accustomed. Why should the taxpayer subsidize a homeowner who paid $200,000 for a house that is now worth $100,000? If the note is written down to $100,000 and the market rises in the next five years, is that homeowner going to reimburse the taxpayer when the home is sold?

When we invest money in anything, we may profit or we may lose. Do we now believe in capitalism when profits are pouring in but socialism when losses occur?

Please join me in contacting our senators and representatives to oppose all bailouts. I would like to commend U.S. Rep. Louie Gohmert for opposing these bailouts and refusing to compromise his principles.