Showing posts with label bailout. Show all posts
Showing posts with label bailout. Show all posts

Thursday, January 14, 2010

The middle class does all the work.

The comedian George Carlin once said that the rich people make all the money, the middle class does all the work and pays all the taxes, and the poor people are there to scare the shit out of the middle class.

I'd have to agree. The middle class gets royally screwed - especially in America (also in Canada to a somewhat lesser extent.) Let's take a look.

  • The middle class was told to invest all their savings and money in the markets - mutual funds, stocks, mortgages, credit etc. They paid a ton of hidden fees to the rich corporations who pay their executives millions dollars of year.
  • The system collapses because the middle class finally has their back broken by debt.
  • The government then takes the money the middle class pays for taxes and gives it to the rich corporations who continue to pay their executives millions dollars of year as a "bail out".
  • In other words, the rich people made money on the way up and made money on the way down.

Sunday, November 29, 2009

Should I bailout failing local tv stations?

I guess local broadcasters like CTV, Global and CBC, have been asking the Canadian Radio-television Telecommunications Commission to tax cable and satellite customers for receiving over-the-air television stations.

In other words, they're losing money because no one watches their crappy shows and they want the government to take my money and give it to them.

My thoughts are: there's a reason you're losing money. It's because there is no demand for your programming. People don't want to watch your shows. So you should fail or change. You shouldn't ask the government for a bailout.

Why? Because I don't want the government deciding what I should be watching on TV and taking my money to finance shows that no one watches.

Local is not always better. In fact, local is very often inferior. That's why we have free trade. It's why we're able to buy better quality, cheaper products elsewhere. Same goes with television and movies and radio and entertainment.