Adam Smith V. PAC-Scam

1. Smith believed that government should not attempt to control or direct economic activity.

PAC-Scam is the epitome of government attempting to control and direct economic activity, and following a proven failed model to boot!

2. Smith believed that the progress of human well-being has been due and will continue to be due primarily to free exchange, which makes possible division of labor, and that government cannot hasten this natural process.

PAC-Scam is totally based on the premise that the government can hasten the process of human well-being by preventing free exchange.

3. Smith believed that economic growth is inhibited by government spending for unproductive labor, and it is better to have less government and, consequently, lower taxes.

PAC-Scam is driven by money borrowed by government from our enemies, to be paid back using taxes confiscated from the productive labor of our children and grandchildren, and using this blood money to prevent free exchange, and consequently, raising taxes!!!

4. Smith believed that markets usually produced better results than did government intervention.
PAC-Scam flies in the face of Smith’s belief, and is trying to demonstrate that government intervention will produce a result where the market has failed, by subsidizing one player so that never again in this area can there be a level playing field in this market!!!

Allow me to stop at this point and ask Mr. Laubach a few questions:

Mr. Laubch, as a student of Adam Smith, and being the one who introduced him into this debate, please explain:

1. You feel that this PAC-Scam will encourage business development in the area. How do you expect a new restaurant to be able to compete with the coffee shop at PAC-Scam since the PAC-Scam’s coffee shop:

a) had no real estate acquisition or rent expense;

b) had no remodeling expense;

c) received financing that does not have to be repaid???

2. How do you expect another picture frame business to compete with the picture frame shop at PAC-Scam, given a), b), and c) above???

3. How do you expect any other artist studio venue to be able to compete with the studios at PAC-Scam, given a), b), and c) above???

I patiently await your kind reply.

Regards,

Mike Presta