Letter: Don't forget who pays for bailouts

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There has been much stress over the state of the American economy and how to get it back on track. Politicians think that it can be “stimulated” through bailouts by taking taxpayers’ money and giving it to companies that have been irresponsible in how they are managing their finances. These companies are not being held accountable for their poor decisions. They need to be held accountable, we can’t let these few people control the economy, because of selfishness and greed.

I believe in a free economy which means: free to try, free to succeed, and free to fail – that is the key. For example, there are two companies, A and B. They both start a hardware company in the same town. The consumer picks between company A and company B. They buy what they need from company B, thus company B stays open and company A closes. What bailouts do is say company A we don’t want you to close so were going to give you some money to stay open. Now that money comes from taxes, which come from the consumers when they buy stuff from company B, as sales tax. So in a weird way the consumer is shopping at both stores, but only getting products from one. What people who support bailouts forget is one, the money is coming from them, the people, through taxes.

Riley Mitchell
Bath

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