Rahm Emanuel, chief of staff for President-elect Barack Obama, is calling for faster and bigger aid for US auto makers.
Nice. Campaign on increasing taxes on the rich and redistributing wealth to the poor. Talk about increased corporate taxes and additional taxation on “windfall” profits, then propose bailing out industries who have done everything they can think of to wreck themselves over the past four decades.
Part of the problem with taking on the “tax the rich to give to the poor” issue is that critics can so easily be made to look like they don’t care about the poor. Then you toss up a picture of a sad-looking kid and suddenly anyone who doesn’t want more taxes for wealthy people is a monster.
However, doesn’t a lot of that steam evaporates when we’re talking about corporations? It seems to me that even bleeding heart types shouldn’t have a problem with letting terribly-managed companies who build things few people want suffer a bit. Or even a lot. Yes, you come back to the individual workers who will be caught in the middle, but there are a lot of Americans building cars for companies that make money. Besides the nationality of the company, is there any difference?
Oh. The union.
That sure explains an awful lot.
As a Michigan resident, I sure wouldn’t mind seeing the Big Three recovering a bit. And I’ll admit that if aid money comes from the already-passed $700 billion deal, I won’t be nearly so critical as I would be of additional aid money on top of the existing bad deal.
But these plans to penalize the successful in order to raise cash to reward the failures are obvious losers.