I was struck by today's Milwaukee Journal-Sentinel. Not literally, but in the Crossroads section, on opposite sides of the spread, were two articles that reflect our nation's "welfare for the rich."
On 2J, a local economics instructor's article "Tax for Miller Park didn't help economy." He criticized a previous article which had suggested the opposite. The previous article was based almost entirely on reports by Major League Baseball, which clearly has a huge bias. This week's article takes an objective look, and summarizes that taxpayer's don't get much in return, but the fat cat players and executives of MLB walk away with huge paychecks. The drive to fund new ballparks almost never starts with taxpayers--it starts with the deep pockets of baseball executives, PR campaigns and connections with political power.
On 3J, George Will was taking on the Fed ("What the Fed should never do"), rightly criticizing it for bailing out Bear Stearns (which was promptly bought by Morgan Stanley once the Fed backed the deal with a truckload of cash). The Fed sat down with these firms and they convinced the Fed that it had no choice (?!). Clearly, the taxpayer was not represented in that meeting.
Both articles point to an unfortunate reality in America today: the squeeky wheel gets the grease, and deep pockets can amplify any squeeky wheel to a deafening roar. While middle America worries about its deteriorating schools, roads, and parks, deep pockets buy some time with decision-makers and put their formidable sales tactics to work.
The two articles:
http://www.jsonline.com/story/index.aspx?id=741107
http://www.jsonline.com/story/index.aspx?id=741112
On 2J, a local economics instructor's article "Tax for Miller Park didn't help economy." He criticized a previous article which had suggested the opposite. The previous article was based almost entirely on reports by Major League Baseball, which clearly has a huge bias. This week's article takes an objective look, and summarizes that taxpayer's don't get much in return, but the fat cat players and executives of MLB walk away with huge paychecks. The drive to fund new ballparks almost never starts with taxpayers--it starts with the deep pockets of baseball executives, PR campaigns and connections with political power.
On 3J, George Will was taking on the Fed ("What the Fed should never do"), rightly criticizing it for bailing out Bear Stearns (which was promptly bought by Morgan Stanley once the Fed backed the deal with a truckload of cash). The Fed sat down with these firms and they convinced the Fed that it had no choice (?!). Clearly, the taxpayer was not represented in that meeting.
Both articles point to an unfortunate reality in America today: the squeeky wheel gets the grease, and deep pockets can amplify any squeeky wheel to a deafening roar. While middle America worries about its deteriorating schools, roads, and parks, deep pockets buy some time with decision-makers and put their formidable sales tactics to work.
The two articles:
http://www.jsonline.com/story/index.aspx?id=741107
http://www.jsonline.com/story/index.aspx?id=741112
Comments