Friday, July 16, 2010

Frankly Incorrect

My local CT state senator Tony Guglielmo sent out his 2010 Legislative Report that discusses four topics: Budget, License Fees, Jobs, and Veterans.

The Budget section discusses the typical bankrupt state government. The License Fees section discusses why CT forces hunters and fishermen to buy permission from the state rather than the landowner.

In the Jobs section he says the following. My comments are in blue.
Getting people back to work is one of the most pressing issues facing our state. This year, the General Assembly passed a jobs bill [Not actual jobs, mind you.] that will do a number of things, but most importantly  [This is the most important action that the GA could come up with?] it will increase capital [nonsense] by providing up to $500,000 in loans and credit for small businesses and nonprofits so they can grow [Nonprofits grow?].
There is a fundamental law of economics here: Governments do not produce, they can only spend what they take by force. Senator Guglielmo, why you are promoting giving favored new businesses $500,000 by stealing from existing businesses and residents?

Another fundamental law of economics is: Growth requires savings, which is the deferred spending of profit. The entire definition of a nonprofit is to have zero profit; thus, nonprofits are by design not conductive to growth. Why support businesses that actively fail to save for the future?

The solution is to keep the General Assembly out of jobs creation. Let the people save and build businesses on our own. We don't want your help.

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