Michigan Senator Carl Levin voted for corporate welfare for Wall Street firms bankrupted by bad lending. An email from Jack Hoogendyk elaborates further.
Hoogendyk: Levin is on the Side of Big Government
US Senate Candidate Calls for Action in Favor of the Market
Michigan - October 3, 2008 - US Senate Candidate Jack Hoogendyk expressed his strong disagreement with Senator Carl Levin's vote in favor of the bailout package. Two days ago, Michigan's US senators split on the bill: Senator Stabenow voted against it, whereas Senator Levin voted for it.
"I applaud Senator Stabenow's 'no' vote," Hoogendyk said, "but it does not come as a surprise that, once again, Senator Carl Levin has chosen to put himself on the side of the 'we-know-better-than-you' government rather than on the side of the people, individual potential, and the free market. If Congress does indeed pass this legislation, we will have missed a golden opportunity to reduce the burden of taxation and misguided regulation."
"The capital gains tax, the corporate tax, and the mark to market rule of accounting are all examples of government burdens that, if removed, would produce immediate results for the economy. While I recognize the urgency of this crisis, I cannot support a government solution that may provide short-term relief but will further hamper economic growth in the long run."