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Sen. Rand Paul (R-Ky.) announced Thursday that he will propose legislation that would cut taxes for Detroit and other areas of the country that are in dire financial straits, pitching the idea as an alternative to bureaucratic government stimulus programs.
Devotees of the failed Keynesian economic policies that wrought Detroits destruction will hate this plan.
Quote:
"A government stimulus takes money from one area of the country, brings it to Washington, and then somebody — a central planner — has to decide who to give it to," Paul said. "The problem is that central planners are never smart enough to know which entrepreneurs will succeed or which are the best in business, so they typically give it to the wrong people. In ours, basically it will go back to people who customers have already voted for."
Solyndra, Fisker, Ecotality etc. come to mind.
Nobody allocates resources better than when ownership risks its own capital.
You can say its not government funded, but who will pay for their Federally funded programs and infrasatructure?
Politicians LOVE picking winners and losers.
Detroit should lose them, they would be better off.
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