Restraint of Trade

There have been two stories in the news of late which, on the surface, appear to have little connection. However I see them very similar in the end result of each story: people telling other people how much they can make or how they can invest their money.

The first story involves conservative radio talk show Rush Limbaugh and his interest in becoming a minority owner of an NFL franchise. Apparently Rush has so much money he wants to throw it down an abyss. If you listen to Rush regularly as I do you will know how much he loves pro football. His open line Friday shows are filled with calls about his beloved Steelers and football in general. He even tried his hand at commentary a few years ago. He has his opinions and he is not bashful about sharing them. When the story broke last week you would have thought Rush had broken into the Halls of Congress and attempted a coup! The wailing and gnashing of teeth could be heard all the way to Seattle. He was called some vile names, people started threatening boycotts, The Most Reverends Al Sharpton and Jesse Jackson, as Rush calls them "The Justice Brothers" started their shakedown routine, and Roger Godell, the NFL Commissioner, weighed in with his most uninformed opinion, and finally the group that Rush was a part of making an offer for the Rams booted him out for fear that it would jeopardize their chances for the franchise.

The second story involves the Compensation Czar for the Obama Administration and their attempts to rein in executive compensation in corporate America. This pencil neck has been assigned the task of deciding how much is too much for employees of major corporations to make. He is specifically targeting those executives at the companies that were bailed out by TARP funds last year. However the Prez has stated over and over about how these greedy bastards in the private sector shouldn't be paid so much so it goes without saying all executive pay is in his cross hairs. The Democrats in Congress are up in arms because some of the same companies that were circling the drain a year ago are making record profits this year and their executives are contractually entitled to substantial bonuses.

The common thread is the government dictating to private companies and individuals how they can spend their money. Before you say the NFL is not the government I will remind you that it exists at the pleasure of Congress as a government sanctioned monopoly. All the NFL has to do is blink with the wrong eye and they will spend the next year in hearings being attacked and threatened with their existence. In both cases companies and an individual earning legitimate money are not allowed to spend or invest it as they see fit. The last time I checked this attempt to control or influence the market place is called restraint of trade and is constitutionally prohibited. If I have a million dollars and I want to pay it to the neighbor kid to walk my wiener dog for a week whose business is it to tell me I can't? Or if I want to take that same hunk of money and play it on the lotto what is to stop me? In capitalism there will be winners and losers. The winners do so by being smarter and more savvy than the losers and deserve to reap the rewards of their effort. The government always gets its cut so what's the problem?

The problem is our current government is on a crash program to redistribute the wealth of our country as quickly as possible. Their goal is to bring the "rich" down rather than elevate the "poor" up. When you blow away all the smoke all of the initiatives coveted by this administration is about just that: redistribution of wealth. Health care reform is not about improving health care but about driving the insurance companies out of business and redirecting their earnings to the control of the government. Climate change is not about saving the planet but about replacing fossil fuels with green technology and taxing the oil companies out of business. TARP was never about "saving the financial system" but about a manufactured crisis to take control of some of the largest financial institutions in the world.

Look, I don't feel sorry for either Rush or the corporate executives getting "czarred". Part of what got them where they are is their ingenuity and creativity. If they can't figure out a way to out-smart these poindexters I guess they weren't as smart as they think they are. The problem here is the government exercising control in areas that they are not supposed to. With an onerous government taking away incentive for people to succeed eventually these folks will either quit succeeding or take their talents elsewhere. And when you lose that talent our economic engine will sputter like the European models this administration admires and we will all be working for the Chinese. That is something to really be worried about!