Monday, March 8, 2010

Tales from Bailout Nation

So, what was it we were saying about crony capitalism and economic fascism?

Check out the chart below that breaks down those corporations that will be subject to the so-called bank tax and those that won't.

Two undeniable trends emerge: 1) the corporations that have actually paid back their TARP funding (some with interest) will be subjected to the tax and 2) government sponsored entities, Fannie and Freddie, and corporations in which the government is a vested party, Chrysler and General Motors, are exempted.

A third trend which may or may not be obvious from the chart is that the administration has chosen to publicly demonize those corporations that will be taxed in a manner to justify that tax to the exclusion of the non-taxed gang of four.

Bailout Nation is all about picking winners and losers and it is necessary for the losers to be flogged publicly for the benefit of a blood-thirsty electorate bent on seeking revenge for the country’s economic woes.

The sort of manipulative exploitation practiced by Hitler and Mussolini isn’t all that different from what we are seeing today from people like Hugo Chavez and right here in the good ol’ US of A.

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