All too often, government picks winners and losers in the economy to benefit special interests in the “Washington Cartel,” Sen. Ted Cruz (R-TX) said today at The Heritage Foundation.
This sort of cronyism — whether in the form of the Export-Import Bank that funds well-connected businesses or the ethanol mandates that benefit well-connected farm interests — resembles Soviet-style central planning, Cruz said in remarks in Heritage’s Allison Auditorium.
— Heritage Foundation (@Heritage) June 24, 2015
Even proposals like the Internet sales tax, backed by large brick-and-mortar and online retailers, amount to cronyism since they would impose substantial burdens on smaller, upstart firms.
Instead, he said, government should limit regulations and taxes and allow the free market to flourish.
Do you think government should pick winners and losers in the economy?