• News
  • Celebrities
  • Finance
  • Crypto
  • Travel
  • Entertainment
  • Health
  • Others

Of Cigarettes, Taxpayers and Ginseng Motors « The Washington Independent

As the Senate this week debates legislation placing the tobacco industry under the oversight of the Food and Drug Administration, Sen. Lamar Alexander (R-Tenn.) is proposing an amendment that would give every taxpayer an equal share in the 60 percent of General Motors just acquired by the federal government.

“It’s a pretty simple proposal,” Alexander told MSNBC Wednesday. “And if you think about it, it’s pretty logical. I mean, the government used the taxpayers’ money to buy General Motors, 60 percent of it, so we might as well get that stock out of Washington, and back in the hands of 150 million individual investors.”

Nevermind, for just a moment, that the proposal has nothing whatsoever to do with either the FDA or Joe Camel. The fascination here is that lawmakers remain infatuated with the concept that the Wall Street bailout, used to scoop up GM, was funded by taxpayers.

Do you know how you know that it wasn’t? Because not one taxpayer dollar was allocated to cover the $700 billion tab. Instead, Washington borrowed the cash, largely by selling T-bills to foreign nations like China and Japan.

When lawmakers choose to raise taxes to balance budgets, then they can make claims that taxpayers are owed the goods and services at the other end of the spending. Otherwise, GM would be best considered Ginseng Motors.

Discussion & Comments (0)

    Recent Articles

    • Things You Should Know about North America

      Things You Should Know about North America

      Get to know more about North America.

    • Eurovision 2010 Paula Seling Unpredictable Contest

      Eurovision 2010 Paula Seling Unpredictable Contest

      Paula Seling's experience on the Eurovision stage led her to declare that "Eurovision is an unpredictable contest". Which may explain the success of the young Lena from Germany, about whom the predictions before the event did not offer much chances for victory.

    • VIPRow.me - The Best Sports Streaming Website Today

      VIPRow.me - The Best Sports Streaming Website Today

      Have you ever contemplated creating a user-friendly site dedicated to sports-related free live streaming channels?

    • Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      Learn How To Download, Install, And Use The Xnxubd 2022 Frame App

      XNXUBD 2022 Nvidia users are able to watch thousands of videos and other contents online. XNXUBD 2022 Nvidia New is a piece of software that enables people to watch videos online without having to pay for memberships. On a graphics card, the XNXubd also provides some of the best gaming and virtual reality experiences.

    • Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      Xvideostudio Video Editor Apk Free Download For Pc Full Version In 2022

      A new edition of the Video Editor Apk for xVideostudio.Video Studio has all the latest features, including support for multiple video download formats in HD, FHD, and even 4K resolutions.

    • 9 Best Lotion For Masturbation - Popular Choice For 2022

      9 Best Lotion For Masturbation - Popular Choice For 2022

      Masturbation is a common activity for men and women. It's a natural and risk-free way to explore your body, experience pleasure, and release sexual tension.

    • Reasons Why You Need To Stop Watching Movies From Sflix

      Reasons Why You Need To Stop Watching Movies From Sflix

      Without having to sign up or pay anything, you can watch movies online for free with SFlix. It has more than 10,000 movies and television shows.

    • Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Mom And Dad's Family History & Wife, Explained

      Coi Leray Collins (born May 11, 1997) is a rapper from the United States. Leray started publishing songs to SoundCloud in 2014, and in 2018 she released her breakthrough track "Huddy" as well as her first mixtape, Everythingcoz.

    • Listen And Download Music On MyFreeMP3 For Free

      Listen And Download Music On MyFreeMP3 For Free

      Are you in a bind and looking for a place to obtain free mp3 songs? Never again will you need to bother, since this article has everything necessary to obtain your solution. Download free music from MyfreeMP3.com, one of the world's most popular websites.