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Friday, May 11, 2012

Ron Paul Economic Superiority: GOP Show They're Hypocrites With Export-Import Banks

Ron Paul is right. The Export-Import Bank is pure corporate welfare. Republicans love the Export-Import Bank because Republicans are corporatists and fascists who love doling out taxpayer cash to rich companies.  A subsidy is really nothing more than a wealth transfer from the poor and middle class to the rich.
American industries have lobbied to keep Ex-Im in existence...Judging by Wednesday’s vote in the House to reauthorize the Export-Import Bank, which was supported by 147 Republicans, a change in direction is much needed. The willingness of Republicans to support the Export-Import Bank (Ex-Im) shows that Paul’s limited government views are needed to remind the GOP what opposition to wealth redistribution actually entails....Paul has been an ardent opponent of Ex-Im as a form of corporate welfare. In a 1997 speech, Paul lamented the resources taken from the private sector to “support the less efficient companies living on government subsidies.” Paul understands that, without Ex-Im, all companies would be pressured by the market to find ways of being profitable on their own, because they would not be able to depend on U.S. subsidized importers to buy their products. This would leave all industries in an equal position to compete and allow Americans to use their resources as they wish, and support the industries they actually believe are worth supporting.
Read the rest here

Judy Morris,
Blogger, THL
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