Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Here's the issue I have with it: They fall on their faces in the private markets, then come to us looking for bailouts.  At that point we can say to them, "Okay, 20% of your revenue goes to us from now on."  But, by then, it's too late, and we haven't stripped the money from them prior to the need for a bailout.  They've already failed.

You have to let companies fall on their faces, or they'll wind up as they next airline or automaker going through a vicious cycle of Good Times and Teh Stoopid.  And then everybody but management -- taxpayers (debt), workers (pay and benefit cuts), etc - gets fucked.

By giving them insurance in return, it creates -- and here, for the record, I'm thinking more along the lines of the practical implementation rather than the philosophical underpinnings -- potentially some kinds of moral hazard down the road.

Your idea is a perfectly good way to collect corporate taxes.  I like it.  But I don't see any great need to give them anything in exchange.  When they say, "Hey, we gave you a whole buncha money, so lend us a hand," the government should be responding, "Fuck you, you gave us the money because we said you had too, so piss off."

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Sun Sep 21st, 2008 at 01:58:35 PM EST
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