To President Obama: Instead of trying to use corporate welfare and cronyism (Export-Import Bank government program) to help exporters, why not lower taxes and get rid of harmful regulations? If your excuse for anti-free market programs is that China does it, that really isnt an excuse. If you are suggesting that banks wont finance exports, then why does the government need to subsidize rich corporations and put billions in costs on the backs of middle class tax payers. Rich corporations dont need money from hard working Americans to sell their products. If a sale is possible, private banks will make them loans. 98%+ of our exports happen without any help from the Export-Import Bank, and over half of the remaining exports arent necessary through Export-Import Bank and the vast majority of the rest can find alternative lending. The Export-Import Bank does not create any jobs, it simply redistributes jobs by picking winners and losers in the market. Government should NEVER get to decide which companies will prosper and which will not.
Posted on: Fri, 01 Aug 2014 19:22:38 +0000
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