Two Republican senators, Lamar Alexander and Robert Bennett, want the government to give its stake in General Motors to American taxpayers. The plan makes so much sense that it’s almost impossible to believe it was generated in Washington, DC.
Under the plan, the government would divvy up its newly-minted General Motors shares among the 154 million Americans who pay federal taxes. If you don’t pay taxes, you don’t get the stock. The senators said taxpayers financed the government’s $60 billion investment in GM, so they deserve to own the stock.
“Those shares might not be worth much now, but put them away and one day they might contribute something toward a college education,” Alexander said. “GM’s 610 million shares were only worth 75 cents just before bankruptcy, but they were worth $40 dollars per share two years ago.”
“This bill would be a tough one for Democrats to oppose,” one aide observed. “They would essentially say that they would rather have the government run and own an auto company than the American people.”
That poor deluded aide. Let us give you the Democrat response before they even make it:
“This outrageous plan is typical of good old boy Republican politics. It discriminates against the poor, people of color and hard-working undocumented aliens. Blah-blah-blah.”
Source: Reuters
