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Thursday, February 19, 2009
George Will :: Townhall.com Columnist
Fire in Your Neighbor's House
by George Will
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"Suppose my neighbor's home catches fire, and I have a length of garden hose. ... I don't say to him ... 'Neighbor, my garden hose cost me $15 ... '"
-- Franklin Roosevelt, Dec. 17, 1940, news conference, discussing lend-lease

"When the town is burning, you don't check party labels. Everybody needs to grab a hose."
-- Barack Obama, Feb. 10, 2009

WASHINGTON -- FDR's analogies, like his policies, are being recycled. As money gushes from Washington like water from a fire hose, consider how bailout promiscuity is coloring politics at all levels.

Brian Tierney is CEO of Philadelphia Media Holdings, which publishes Philadelphia's Inquirer and Daily News and has missed loan payments since June. Pennsylvania Gov. Ed Rendell's spokesman says Tierney has had "a number of conversations" with Rendell about receiving state money that "could come from a number of revenue streams."

The Wall Street Journal designated this "the worst bailout idea so far" and "nuts in eight different ways," noting that the investors Tierney led in purchasing the two newspapers put up only 20 percent in equity, making them typical of "Americans who borrowed too heavily during the credit mania." In response to Rendell's spokesman saying that newspapers are "the lifeblood of democracy," the Journal said "newspapers aren't the lifeblood of anything if they are merely an adjunct of the state" and are "dependent on the politicians (they are) supposed to cover."

In a remarkably maladroit letter to the Journal, Tierney said "the overwhelming majority of our employees" -- truck drivers, advertising salespeople, etc. -- whose jobs would be saved by government money "have no influence on the editorial content" of the papers. So: Even if the papers' survival, and therefore the jobs of reporters and editorial writers, would depend on the government's good will, the papers would remain independent because reporters and editorialists are a minority of the papers' employees. Good grief. Continued...

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About The Author
George F. Will is a 1976 Pulitzer Prize winner whose columns are syndicated in more than 400 magazines and newspapers worldwide.
 
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Kenley
You misunderstood my characterization of your argument. I was not suggesting that you proposed higher taxes; I was suggesting that you proposed using revenue for calculating the effective tax rate rather than net income. The argument that this is not the same as advocating *implementation* of corporate taxes based on this definition comes very close to being a distinction without a difference, since you are indeed arguing that the effective tax rate is light based on this definition.

Hosed
"When the town is burning, you don't check party labels. Everybody needs to grab a hose."

About a year ago when the fire broke out Bush turned a hose on it and the fire got worse. Then Paulson got a hose and turned it on the fire and again it got worse. Now Obama and has a hose and the fire is once again blazing away.

At this point I think we have to ask ourselves if kerosene is the really the best stuff to put on a the fire.

We have a problem caused by the government spending too much borrowed money and we are going to fix it by spending even more borrowed money.

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