Let every American, every lover of liberty, every well wisher to his posterity, swear by the blood of the Revolution, never to violate in the least particular, the laws of the country; and never to tolerate their violation by others.

As the patriots of seventy-six did to the support of the Declaration of Independence, so to the support of the Constitution and Laws, let every American pledge his life, his property, and his sacred honor; let every man remember that to violate the law, is to trample on the blood of his father, and to tear the charter of his own, and his children's liberty.

Let reverence for the laws, be breathed by every American mother, to the lisping babe, that prattles on her lap; let it be taught in schools, in seminaries, and in colleges; let it be written in Primers, spelling books, and in Almanacs; let it be preached from the pulpit, proclaimed in legislative halls, and enforced in courts of justice. And, in short, let it become the political religion of the nation; and Let the old and the young, the rich and the poor, the grave and the gay, of all sexes and tongues, and colors and conditions, sacrifice unceasingly upon its altars.

While ever a state of feeling, such as this, shall universally, or even, very generally prevail throughout the nation, vain will be every effort, and fruitless every attempt, to subvert our national freedom.


- Abraham Lincoln, January 27, 1838
  Address Before the Young Men's Lyceum of Springfield, Illinois

Monday, September 29, 2008

Taxation without representation

From the New York Times:

Treasury Would Emerge With Vast New Power

During its weeklong deliberations, Congress made many changes to the Bush administration’s original proposal to bail out the financial industry, but one overarching aspect of the initial plan that remains is the vast discretion it gives to the Treasury secretary.

The unelected Treasury secretary.

The draft legislation, which will be put to a House vote on Monday, gives Treasury Secretary Henry M. Paulson Jr. and his successor extraordinary power to decide how the $700 billion bailout fund is spent. For example, if he thinks it wise, he may buy not only mortgages and mortgage-backed securities, but any other financial instrument.

Without any input - whatsoever - from the generations of taxpayers footing the bill. This amounts to taxation without representation. Care to see what our forefathers thought of this idea?

Spurred by Patrick Henry, the Virginia Assembly passed a set of resolutions denouncing taxation without representation as a threat to colonial liberties. A few days later, the Massachusetts House invited all the colonies to appoint delegates to a Congress in New York to consider the Stamp Act menace. This Congress, held in October 1765, was the first intercolonial meeting ever summoned on American initiative. Twenty-seven men from nine colonies seized the opportunity to mobilize colonial opinion against parliamentary interference in American affairs. After much debate, the Congress adopted a set of resolutions asserting that "no taxes ever have been or can be constitutionally imposed on them, but by their respective legislatures" and that the Stamp Act had a "manifest tendency to subvert the rights and liberties of the colonists."

For a full breakdown of the vast new powers congress is bestowing on this unelected Treasurer, keep reading.

There is brief mention of 'congressional oversight.' Hopefully this is a serious attempt to keep the robber barons in check.

From what I've seen in the past... pardon me if I am feeling zero trust right now.

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