Monday, April 02, 2012

The JOBS Act

Judge Judy has a saying that asks, “How do you know when a teenaged girl is lying?” and answers herself with, “When her lips are moving.”

A similar principle applies to legislation; how do you know that legislation is bad? When it passes Congress. No bill can ever pass Congress unless it meets with the approval of the people who finance the reelection campaigns of the legislators, and that is not the common voters. They may put nifty little names on the bill, like the “Jumpstart Our Business Startup” Act, which can be abbreviated the “JOBS” Act and advertised for the purpose of creating jobs, but the reality is that it is a massively deregulating bill which will create enormous opportunity for fraud.

Well done, Congress and bipartisanship, well done.

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