Robert Stacy McCain: “The Bible and the Bailout”
I confess I had not heard much about “The Other McCain” until today. But Robert Stacy McCain has written a rather thoughtful essay titled The Bible and the Bailout in the American Spectator that deserves a read, I think. Where this comes in as one thinks about Romans 13, I am still pondering. But I think Mr. McCain is on target when he writes:
Whereas transactions in a market economy are voluntary and peaceful, the actions of government are essentially coercive, backed with the threat of violence to those who disobey. What government does, it does “at the point of the bayonet,” so to speak. Therefore, the fearsome power of government ought to be constrained to limited and specific purposes — defending the life, liberty and property of citizens.
When government begins to meddle in the economy, picking winners and losers, using appropriations and fiscal policy to transfer money from one group of citizens to another, it divides society into two classes, taxpayers and tax consumers, punishing the former in order to reward the latter.
Now, this is a conclusion he came to years ago, but he applies it to the current bailouts quite consistently–see what you think.