Tuesday, August 15, 2006

State 29 Wants Lock Box

Playing on Culver's size, State 29 brings to bear his usual common sense and all too uncommon economic analysis in "Chet Culver Wants to Raid the Iowa Pension Fridge," August 14.

Whether it's TIFs, the "Iowa Values Fund," or dipping into pension funds, there is something terribly sad, ironic and tragic about the Republicans and Democrats alike who think the preferred path to economic growth and prosperity for all is the corporate state -- this blend of public money and private profit.

Coupled with the excessive campaign contributions and lobbying that gives these wealthy beneficiaries disproportionate influence in government, it creates the very blend of corporate and governmental power that, under Benito Mussolini in World War II Italy, was the economic system we called fascism.

Why can't they just leave it to the entrepreneurs, venture capitalists and other investors, banks and other potential creditors? What makes them think that government officials -- with no financial or professional stake whatsoever in the venture -- will be able to make wiser investment decisions with public money than those whose business it is to do so (literally and figuratively) can do with their own money?

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