Federal politicians plan to “bail out” the Big Three auto makers, in effect compelling ordinary Americans to pay for the fact that the companies caved in to exorbitant demands from the UAW in the past.
Don Boudreaux comments in this letter to the editor of the Wall Street Journal:
To the Editor:
Re “Nationalizing Detroit” (November 10): How ironic is it that the gaggle of
politicians now ascendant in Washington croak especially loudly about their
‘courage’ in standing up to corporate interests while they seek to force
taxpayers to hand over $50 billion to private corporations? And how odd is
their belief that the same businesses that these politicians are sure don’t
respond negatively to being taxed will respond positively to being subsidized?
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
