November 18, 2011
I noted yesterday:
The Founding Fathers hated big corporations. See this, this and this. They were as suspicious of big corporations as they were the monarchy. So they only allowed corporate charters for a very brief duration, in order to carry out a specific, time-limited project.
As James Madison noted:
There is an evil which ought to be guarded against in the indefinite accumulation of property from the capacity of holding it in perpetuity by…corporations. The power of all corporations ought to be limited in this respect. The growing wealth acquired by them never fails to be a source of abuses.
Indeed, while the Boston Tea Party was a revolt against taxation without representation, it largely centered on the British government’s crony capitalism – and disproportionate tax breaks – towards the East India Company, the giant company which dominated the tea market and hurt small American business.
Protesting against the government propping up today’s giant banks – who are ruining the chance for small businesses to have a fair chance at competing – is exactly the same idea.
While it was quickly hijacked by the mainstream Republican party, Sarah Palin, Neocons and others, the Tea Party was originally an anti-crony capitalism, anti-corruption, anti-bank bailouts protest. As such, it really was originally modeled on the Boston Tea party.
No wonder – as I noted last month:
Another key founder of the Tea Party – Karl Denninger – also supports the protests, and points out that the demands of the Tea Party protesters were originally very similar to those of the Occupy protesters (before the mainstream Republican party co-opted the Tea Party) .
Numerous local tea party leaders, such as the leader for the Trenton area, also support the Occupy protests.
This article was posted: Friday, November 18, 2011 at 4:05 am