The Act of legislating or creating regulations or calling for investigations based on pleasing a critical special interest group and it's lobbyists whose financial or ballot box support is necessary for re-election.
This is in lieu of the harder work of non politically determining what legislation, regulation or investigation is really in the best interests of the nation. Tough job but necessary and proper roles stipulated in our form of representational government rather than a pure democracy.
Bipartisan Politicism: Special tax laws to help the rich delay or avoid paying taxes on various forms of income, including salary, contract, investment and estate and wealth transfers. There is an abundance of these laws and regulations that benefit only the rich and powerful who can afford to exploit the rewarding opportunities with highly paid advisers to help them.
Republican Politicism: During the Bush administration on the heals of the so-called dot com and tech driven stock bubble bursting, along with an incipient recession and the financially and emotionally devastating attacks on the World Trade Center of 9/11, ordinary income tax rates were reduced for all and large cuts in capital gains taxes were enacted and preferential taxes such as taxing performance based ordinary income of hedge fund managers, not owners, at much lower capital gain rate given to those who put money at risk, was allowed to remain in force. Arguably helpful as a financial stimulus all the while adding to the national deficit, arguably too large and generous but in-arguably beneficial most directly to the rich who do pay most of the taxes.
Democratic Politicism: HR3200 House Bill to reform health care included a public option to keep the insurance companies honest, by creating government competition to the insurance industry. Arguably a way to provide competition intended to lower insurance costs, arguably a way to eventually create government dominance to phase into a single payer system proponents really want immediately, but in-arguably creating a larger role and likelihood of politicized government control over business in a manner not unlike the government sponsorship of mortgage giants Fannie Mae and Freddie Mac, a duopoly which cornered an intermediary and defining role in the mortgage market for decades as a PRINCIPAL rather than more properly as a facilitator or insurer in a manner similar to the FHA, the VA or the FDIC.
Prices shown in USD.
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