Thursday, July 22, 2010

NET RIGHT NATION Must Reads for July 22, 2010

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"Financial Reform" and America's march to Marxism

Big bank bailout party–Goldman not invited

Friendly fire on Capitol Hill

Cartoon of the day, "Dem Hour Energy"

O's job errors

The new racial mess

Heading toward an entitlement society

Stop the tax hikes!

The vast left-wing media conspiracy

The smoking gun for media bias

Where do libertarians belong politically?

Congress created this all

RNC treasurer accuses Steele of hiding GOP's $7 million debt

Americans for Limited Government President Bill Wilson's quote of the day is in reference to the signing of the Financial Takeover bill:

"Today, Barack Obama claimed that 'the American people will never again be asked to foot the bill for Wall Street's mistakes,' and yet that is exactly what the Dodd-Frank financial takeover will do — it contains a hidden tax to finance a perpetual bailout fund.

"This is taxation without representation. The Dodd-Frank bill authorizes the FDIC to levy without any vote in Congress an unlimited bank tax on bank holding and insurance companies with $50 billion or greater in consolidated assets, the costs of which will be passed on to consumers of financial products, savers, and investors, with more fees, higher premiums, and other hidden costs.

"The bank taxes, which the American people pay for, will finance a so-called 'orderly liquidation fund', which will be used to bail out politically-favored firms and seize disfavored ones, redistributing their assets to privileged constituencies, as GM and Chrysler were redistributed to labor unions.

"Since Obama is saying that bailouts and government takeovers will 'never again' occur, he bears responsibility for signing a bill into law that institutionalizes 'too big to fail' and ensures that the next time there is a crisis the American people will be on the hook, paying hidden taxes to fund more government interventions to prop up failing institutions, all without any vote in Congress."

Read more at NetRightDaily.com: http://netrightdaily.com/2010/07/must-reads-for-july-22/#ixzz0uPzRtClL

Read more at NetRightDaily.com.

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