The 'bailout' of Goldman Sachs, Morgan Stanley, et al is yet another tax increase by the administration of George W. Bush.
I will try to keep this diary substantive and will avoid my usual ad hominem references to
- Laura Bush killing her boyfriend
- Dick Cheney was a serial draft dodger
- Sarah Palin's motto is 'Let them Eat Moose'
- Larry Kudlow has a history of substance of abuse
Bottom line:
- The bailout has been conservatively estimated as forcing the U. S. to issue another $1 trillion in debt
- The interest and principal will be paid directly by American taxpayers (unless some future administration plans to use Ebay to raise funds by trying to sell Louisiana back to the French)
- An increase in the tax burden on taxpayers is a tax increase
- This is just latest tax increase foisted on future generations by the AWOL drunk (oops, sorry for the ad hominem, old habits die hard)
- The increase in tax burdens placed on the American taxpayer by this administration rivals that burdens placed by St. Ronald of Reagan. Was it scant 8 years ago that the U. S. budget was finally showing a surplus?
You won't see any news about this tax increase on CNBC or the Wall Street Journal but it is no less a tax increase than the massive tax increase signed into law by St. Ronald of Reagan in 1983 and his retroactive increase in 1986.
Alas, I have no rebuttal to the powerful GOP arguments against my case that we shouldn't call this a tax increase because Franklin Raines is black.