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October 01, 2008
The Arsonists are Running the Fire Station...
Picking up on Frank's "snarky-ness," my brother (a federal bureaucrat working for the FCC, which sort of makes him the black sheep of the family) sent me a perfect example of why we shouldn't allow the same folks who start fires in the first place be responsible for extinguishing them. If you were to look at the last version of the huge federal bail-out known as the Emergency Economic Stabilization Act, and if you were to go to the bottom of page 300, you would find this sweet little example of pork-barrel politics at its best (worst): SEC. 503. EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN. (a) IN GENERAL.—Paragraph (2) of section 4161(b) is amended by redesignating subparagraph (B) as sub301 paragraph (C) and by inserting after subparagraph (A) the following new subparagraph: (B) EXEMPTION FOR CERTAIN WOODEN ARROW SHAFTS.—Subparagraph (A) shall not apply to any shaft consisting of all natural wood with no laminations or artificial means of enhancing the spine of such shaft (whether sold separately or incorporated as part of a finished or unfinished product) of a type used in the manufacture of any arrow which after its assembly— (i) measures 5⁄16 of an inch or less in diameter, and EFFECTIVE DATE.—The amendments made by this section shall apply to shafts first sold after the date of enactment of this Act. Wow... certainly this must fall under our Constitution's "general welfare" clause?! Posted by Mike Stroup at 04:32 PM in Economics
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The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith
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