The American Spectator

Reader Mail

No Questions Asked

10.3.08 @ 12:01AM

(Page 2 of 5)

So we can easily, if we care to look, view the democrats inexorable march to our socialist dictatorship modeled after their hero, Fidel Castro's Cuba.
-- Jay W. Molyneaux
Denver, North Carolina

If the Democratically controlled Congress won't police itself (and its track record speaks for itself), and if FEC is too afraid to do its job of investigating illegal contribution to Messiah Obama, then it is up to the media to level a hue and cry that will awaken the sleeping giant of the American citizenry. The Constitution and precedent has given the press great power, but, as Uncle Ben told Peter Parker, with that great power comes great responsibility. MSN and NBC are clearly enamored with the young senator from Illinois; ABC, CBS, CNN and most paper outlets are not quite in the left orbit as the aforementioned pair, but they are definitely less than unbiased. (Amazing how Obama is still not questions about experience but not an article from the mainstream media goes by without mentioning Governor Palin's limited experience). TAS may be the voice in the wilderness to start the murmuring. What is needed is amplification from Fox News and talk radio. (Hell, I would even invite Rush and his Ditto Heads.) Sometimes a well placed whisper can turn into the roar of a hurricane. If Conservatives/Libertarians do not make their voices heard this election cycle, our voices may be snuffed out for generations to come.
-- Ira M. Kessel
Rochester, New York

FRUSTRATING FOR FEDERALISTS
Re: Quin Hillyer's Maddening for Madisonians:

I am puzzled why the supporters of the bailout haven't produced definitive statistics showing that credit sources are drying up. I've read a lot of anecdotal evidence, but am not persuaded that it justifies laying out $700 billion.

Also, why hasn't the government demanded to examine the loan portfolios of banks so Treasury doesn't have to buy a pike in the poke, and can get a better idea about the size of the crisis?
-- Ray Kisch

Quin hit the nail on the head in so many places.

He gave due credit to the FDIC, SEC, and the Fed Reserve. Those institutions were able to stem the immediate tsunami within their existing authority -- and they were able to do it largely behind the scenes (unlike Hank Paulson, who was clamoring for camera time at the drop of a hat). The only nit I have is that Quin intimates that there is still a requirement for some sort of Government-sponsored bailout, but maybe just not as big as was first proposed by the Administration, or as passed in the Senate last night.

I'm of the opinion that no bailout is required. Yes, legislation will need to be passed and signed. But it certainly should not be in the form of a bailout at taxpayer expense. Instead, the legislation should only address two issues: taxes and divestment. Congress should set the capital gains tax to 0%; this will repatriate the $6 trillion sitting in overseas accounts -- U.S. companies will need to find ways to invest those funds -- guess where the capital will go? Congress should also set the corporate tax rate to 0%; we pay them at the retail level anyway -- companies are simply clearinghouses in the collection of those taxes. If both taxes are zeroed-out, the US economy will double in five years, and tax revenues will shoot through the roof to the point where the public will be clamoring for a further income tax decrease. The divestment, of course, would cover Fannie Mae and Freddie Mac. They should simply cease to exist.

Quin rightly identified our up and coming conservative leadership holding public office. One individual member I would also like to highlight is Congressman Mike Pence. Never mind that Rich Lowry of NRO fame called him "irresponsible" (I can hear WFB moaning and turning in his grave), Rep. Pence is a major guiding force in the House of Representatives and is the keeper (among some others) of the conservative movement in that institution. Even though he is in the minority, Mike's voice commands respect. His speech on the House floor before the vote on Monday made me proud to be associated with the movement.

At the end of the day, the post-mortem on this fiasco will show that the starting point was passage of the CRA; the tipping point was the relaxation of loan standards in '99; and that the glue holding it all together was in the form of two unaccountable GSEs.

Now it's time for the free market to do what the Government could never do -- institute internal reforms that make sense and that can be self-governed in this economy.
-- Owen H. Carneal, Jr.
Yorktown, Virginia

Where was Senator Anti-Pork when the roll was called last night on the ridiculous bailout bill loaded up with special interest corporate welfare? Was he taking names and kicking ass? No, he was in the tank with the rest of the sheeples in the Senate. "Country first," "maverick," "a fighter for you and me"? What a joke! He had two issues that could have overcome all the problems Republicans face this year: "drill, drill, drill" and "reform, don't bailout." He fumbled both of them. He either lacked the understanding, the political guts, or the energy to exploit them. It is becoming increasingly obvious to everyone that his only "maverick" tendencies are when he elects to join with his Democrat friends to kick conservatives and libertarians to the curb. Be sane. Blank the Presidential line this year.

And once again Quin Hillyer astonishes me. After a really good column on the bailout, he notes as "rising stars" Paul Ryan and Eric Cantor. Huh? Yes, they had some better (not great, but better) ideas of how to deal with the financial crisis. But, Quin, they voted for that miserable bailout bill! They know how ridiculous it is, and they voted for it anyway! I don't plan to support any political promotion for anyone who votes for this monstrosity. Let them stew in the House. They deserve nothing better.

I would hope that some conservative periodical (Human Events?) will publish the final vote on the bailout bill. If someone does, I encourage everyone on this blog to cut it out, put it up on your bulletin board, and never forget who was with the corrupt politicians/community organizers/financiers and who was with the citizens of the American Republic.
-- Stephen Zierak
Kansas City, Missouri

ALASKANS ON PALIN
Re: James P. Lucier's Alaskan Foreign Policy:

Letter to the Editor

topics:
Taxes, Foreign Policy, Education, John McCain, Barack Obama, Sarah Palin, Hank Paulson, Bill Clinton, Mainstream Media, Television, Economics, Business, Religion, Constitution, Law, Military, Russia, NATO, Africa, Socialism, Communism, Conservatism, Energy, Alaska, Oil