taxes

So what next for climate activists swept up in ‘Yes, we can!' mania?  Perhaps we first must acknowledge how hard this is going to be.  As a friend wrote to me in reaction to last week's blog post, "I share your enthusiasm about the long-term, but the near term is going to be very challenging.  Obama needs to convince the public that some pain is required immediately in order to clean out the problems in the financial system, mortgage markets, and budget deficit." My friend is right of course, and so-far-so-g

Congress passed the bailout plan with a price tag of nearly a trillion dollars, but the ink was hardly dry on this new Monopoly money when quite a few experts began to predict it wouldn't be enough. Some estimates hope the "investments" that taxpayers will make in bad debts could ultimately turn a profit, but how likely is that? Government has tried its hand at business management before with very mixed results. A few years back, I recall, the feds confiscated a brothel in Nevada as part of a law enforcement action. It soon went broke.