March 19th, 2009

planet

Libertarian thought of the day on AIG bonus taxing

Sorry to multi-post on AIG this week, but I had another thought about the government trying to take the money back. People, once again, this economic crisis is about personal responsibility and the only way we can fix it is by fixing personal responsibility and that starts with you. In a free society, if you hate how a company over-pays their execs, you express that anger by finding another insurance company to give your business to. You don't sit back and hope Washington fixes things for you, you don't look for loopholes in the constitution so elected officials can rip up corporate contracts... the government has no business ripping up contracts.

All the government should do is make sure there's enough anti-monopoly regulation out there for you to choose another insurance company. Once they've done that, you have to be a little aware, and a little insightful, and a little ungreedy (in case the most moral company is not the cheapest). But you can do it, America, I've got faith in you. I wish we'd just learn from this AIG mistake and move on, rather than finger-pointing and parading the evildo'ers around like we tend to do, no matter what administration is in office.