Doctor Ley on Capitalism and Freedom
Now the federal government decrees that it has ultimate purview over executive compensation; never mind that the compensation schema currently deemed “egregious” and “excessive” were created and encouraged by Congress in the Budget Reconciliation Act of 1992. Congress, through the 1990′s, mandated lending practices that laid the groundwork for Fannnie Mae’s near-collapse and the mortgaged-back securities debacle, the linchpin of the current financial crisis. Congress is poised to pass cap-and-trade environmental and energy legislation that will raise everyone’s energy bill and hamper domestic economic development, to pay whom?
Third-world countries who say they have been harmed by excessive energy consumption and carbon emissions by the industrialized nations. Congress, through the years, has allowed Medicare and Social Security to drift into financial insolvency. Are you now prepared to let these same legislators enact statutory control over the health care system? Their track record is abysmal. History has repeatedly demonstrated that centralized economic planning by government is never effective. Capitalism, with fair and just regulation, will never result in equal outcomes but offers equal opportunity. That’s what this country used to be about, before radical egalitarianism became the prevailing mantra and every problem we have today was another administration’s fault.
Respectfully,
Phillip B. Ley, MD, FACS
1030C North Flowood Drive
Flowood, MS 39232
601-826-3410
phillipley@earthlink.net
