Category Archives: Free Markets
Original Article by George Will
Commentary by Robin Lennon
“(NASHVILLE, TN) Bokhari bought a black Lincoln sedan and began offering cut-rate rides — an average of $25 — to and from the airport, around downtown and in neighborhoods not well served by taxis. After one year he had 12 cars. Now he has 20, and 15 independent contractors with their own cars, and a Web site, and lots of customers. He also has some enemies, including the established taxi and sedan companies and a city government that is, as interventionist governments generally are, devoted to regulations that protect the strong by preserving the status quo.
With the quiet support of the taxi companies, which have not raised rates since Bokhari and some similar entrepreneurs went into business, the limo companies got regulators to require a $45 minimum charge for any ride. Not content with that gross injury, government added crippling insults: It limited the age of cars and number of miles on them — regardless of the cars’ condition — and forbade dispatches via cellphones, which is how start-up limo companies operate.”
This happened with UPS and Fed Ex, Solyndra, GM. It’s why all the major companies and banks kowtow to the government and why the cost of living continues to rise along with the tax burden on productive Americans.
Our freedoms that had been slowly eroding over the last century are being destroyed by leaps and bounds. And now, we have POTUS continuing to escalate racial tensions. Dare I even say it, hoping that violence and intimidation will result. Of course since his army of anarchists and black revolutionaries will be at the center of this mob, none of it will be considered criminal by our Attorney Generalissimo and his Department of Injustice.
Things are escalating, and now I hope that the majority of Americans are praying with me, not just hoping, that this President fails at bringing anymore “Hope and Change” to America.
In my recent speech in Iowa, some eyebrows were raised when I took on our government’s enormous economic problems caused by crony capitalism. As if on cue, just days later President Obama selected someone who exemplifies a major crony capitalism problem to sit next to the First Lady when he delivered his “jobs plan” speech before Congress. He selected General Electric CEO Jeffrey Immelt as his honored guest.
Having grown up with great respect for GE thanks to stories my grandfather shared with us about his days working for the company and even meeting GE spokesman-at-the-time Ronald Reagan during a company event, I am saddened at GE’s leadership evolution. This corporation is now the poster child of corporate welfare and crony capitalism.
This icon of American industry is a company full of good employees who make some good products (and is the parent company of a huge media outlet), but GE is also a large American corporation that pays virtually no corporate income taxes despite earning worldwide profits of $14.2 billion last year, $5.1 billion of it in the United States. In fact, they claimed a tax benefit of $3.2 billion, meaning they received more of our hard earned tax dollars than they contributed. How is that possible? It’s because not only do they shelter their money from taxes, but they also get many tax credits, loans, government grants, and other benefits from the federal government that our smaller businesses couldn’t even imagine being able to profit from.