Posted on 04/21/2022 5:32:04 AM PDT by Kaslin
We know that massive government spending propelled by a Democratic Congress and administration has helped inflation spike to a 40-year high of 7.5 percent, but many Americans would be surprised to learn that several of the most conservative legislatures in the U.S. are now seeking to raise our tax bills as well.
Red states across the country are advancing bills that will restrict the free enterprise of private businesses and raise the cost of borrowing for cities, counties, states, and ultimately taxpayers. States, including South Dakota, Arizona, West Virginia, and Missouri have introduced bills that would force financial institutions to conduct business with certain types of businesses, like gun makers or retailers - regardless of the creditworthiness of those companies - or risk being excluded from the municipal bond market. However, this effort to punish major banks for their social stances runs contrary to traditional conservative values of limited government and a free market, and legislators should not be in the business of picking industry winners and losers.
This legislation is following the passage of a law in Texas that bans financial institutions from participating in the state’s municipal bond market so long as they limit business with the firearm industry. As conservatives have long known, intervening to defend one industry over another is government overreach and limits competition amongst lenders, making this a surprising move for Republicans. Municipalities, but ultimately taxpayers, will be forced to pay more for critical infrastructure investments in these states that restrict the field of potential lenders they can use to underwrite loans. This problem only gets worse as the Fed starts to raise rates, as is expected this month.
(Excerpt) Read more at townhall.com ...
Sadly, the answer is likely “YES”, because pubbies are such nadless wonders that as soon as the libs call them mean or racist, they will do all they can to throw away more money than the Democrats did.
Drivel
Quite possibly. Especially with Cocaine Mitch at the helm.
What a load of 🐄💩.
This is actually good law, although got twisted in this article.
Remember, one of the ways to destroy our second amendment rights is to destroy firearm industry!
So liberals are coming with all kind of antigun tricks.
One of them is to deny credit to anybody involved in gun business, to put them out of business.
This law is trying to correct it!
If you like guns and support 2nd, you like this law!
“Democratic Overreach Gave Us Higher Prices, Will Republicans do the Same?”
Better written: Democrats only create problems and then let others solve them ... then take credit for solving them.
Think about it. Where would most banks be today without FHA loans and the FDIC? An argument could be made that some bank leaders are doing woke policies to make sure woke Dim regulators don't drop the hammer on their bank (i.e. through weird implementations of enforcing the Community Reinvestment Act). That's an understandable fear because Dims have done that kind of thing to banks many times in my lifetime all while Dims today promise more of the same.
So I'm for the red states fighting fire with fire. Quit shooting only when the left lays down their weapons.
Wish he would have given more examples and/or link to the proposed legislation.
The old, libertarian me would have been receptive to this argument.
No longer. It’s war now, and anything goes.
The first thing they will propose is tax cuts (never spending cuts). That is their standard playbook.
I’ve never saw anybody do more damage than a democrat the Republicans won’t do the damage if the oust the rinos.
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