The Arsonist Firefighters >>

There are times in hallowed antiquity when the past reflects itself in the present, and as I write this article, I am obliged to share with you the ancient origins of the term “fire sale.” 

Marcus Licinius Crassus was a Roman politician and mediocre military commander who had a long career of distinction and war accolades, and served as a political ally with Julius Caesar in the First Triumphirate. In spite of suppressing slave revolts like that of Spartacus, he was MOST notarized for his wealth and financial savvy. In fact, after adjusting for comparative GDP and currency values, Forbes magazine ranked him as one of the wealthiest men in human history at nearly $170 billion to his name! Bill Gates had nothing on this man. But despite military triumph, Crassus made the bulk of his wealth from real estate speculation, and he achieved this by establishing the first municipal fire department. Any prime real estate that caught his eye was sure to catch fire, and subsequently his fire department agents always managed to show up on cue, refusing to extinguish the flames until the property owner agreed to payment for the service. The settlement was often reached by selling off the land for cheap. This insidious practice resulted in Crassus becoming landlord over much of the real estate in Ancient Rome; the genius was to use a public service as a plundering arm.

In related news, US billionaire and philanthropist Warren Buffet led the charge to Washington DC in 2007, testifying before the Senate that Americans should be subject to the “death tax,” furthermore suggesting that he is taxed at a lower rate than his secretary. What Buffet does not say is that there is nothing stopping him from paying these higher taxes if only he opted out of the massive deductions that he applies. The IRS accepts personal checks, Mr. Buffet. But amidst all of this, why would Buffet express a counterintuitive, albeit fervid, desire to pay higher taxes? Generosity? Social equality? Hardly. Soros and Buffet have offshore accounts to protect them from this. We don’t. 

The financial industry actually endears this hedonistic bonanza, contrary to what the populist politicos would have you believe about “evil rich people,” and it goes beyond the purchasing of assets at fire sale prices upon the time of death (although that is a part). When an entrepreneur keels over, the business assets stand under the specter of the death tax. This tax essentially double-taxes an estate of a rancher, restaurant owner, or other small business owner, at rates up to 1/3 of the estate value, and this deters continuity in a family business. But here is a loophole: under many circumstances, life insurance can protect small-business owners from taxation upon death, since life insurance benefits are often tax-shielded. In short, the existence of the estate tax necessitates insurance, and business owners would rather pay premiums as a coerced form of protection money than face down the Praetorian Guard thugs at the IRS. The juggernaut insurance lobby knows this, and so does Mr. Buffet. The estate tax adds urgency to life insurance, and Buffet’s agents will protect the business owner from state-mandated grave robbery - for a fee for their own.

His laudable charities aside (which I commend), Buffet has cronies that he looks out for as well. After committing $30 billion to the Bill and Linda Gates Foundation, Buffet disproved his false assertion that repealing the estate tax would hinder charitable giving. Since the repealing of the death tax, charity nationwide has not fallen, even excluding Buffet’s kindness. Maybe Buffet just feels that he knows how to dispose of his income better than the IRS. If so, I second him.

But this corporatistic racketeering exists outside of finance as well, and extends into healthcare. “Hillarycare,” as it has been dubbed, is a boondoggle for insurance companies, essentially mandating their services nationwide and tax-subsidizing those who cannot afford it. In an interview with ABC's George Stephanopoulos, Sen. Clinton conceded that "we will have an enforcement mechanism" that might include "you know, going after people's wages." Loaded with unnecessary coverages such as infertility treatment, Hillarycare 2.0 in 2008 brought her the most contributions from the insurance industry than any candidate on either the right or the left… unlike the sinking leviathan that became the centerpiece of the Clinton Administration. Hillarycare crams her choice coverages, her lobbyists, and her mandatory employer benefits down the throats of ALL of America, raking the taxpayer and the employer over the coals for the tax-funded benefit of insurers. Want to opt out? Tough. That’s American fascism.

When Democrats cite that 50 million Americans are without health insurance, they never mention the fact that well over 10 million in that statistic are illegal immigrants. Additionally, the US Census reported: 38% of the uninsured earned more than $50,000 in 2006, 19% above $75,000. Millions also qualify for existing government programs such as SCHIP or Medicaid, but staggering numbers simply do not enroll, proving that not everyone seeks a state solution. Even the late Democratic Senator Daniel Patrick Moynihan of New York dismissed Hillarycare, stating that there was no healthcare crisis, but rather an insurance crisis. Yet in spite of the age-old question of who benefits, the sprawling proletariat of uneducated and emotionally-driven voters (liberals) will follow her populist rhetoric of “taking on the big companies,” genuinely believing that their interests are on Hillary’s mind. 

In the current poo-storm, Buffett is being tapped by DC think tanks to deal with the financial crisis, and Hillarycare will serve as a starting template for years of healthcare legislation. I am in thunderstruck awe at the irony. Ugh.

In yet another example of the arsonists being sent to extinguish the blaze, House Speaker Nancy Pelosi stood shoulder-to-shoulder with Senator Chris Dodd and Congressman Barney Frank (Fannie profiteers), denouncing this disaster is the result of “8 years of failed policy.” This from the party that authored the Community Reinvestment Act as the extortion arm of ACORN (now under investigation for voter fraud), profited directly from Fannie Mae and Freddie Mac (government monopolies both) in the form of DNC campaign contributions, furnished bloated golden parachutes for company officers (all Democrats), and who cavalierly dismissed President Bush’s call for Fannie Mae reform in late 2003 as an attack on homeownership. Bill Clinton agrees:

http://www.youtube.com/watch?v=hfGWxqsKFmY

Over a century after financial guru Crassus lived, Rome suffered a catastrophic fire that destroyed much of the city. There are conflicting accounts over whether or not the fire was an accident, or arson perpetrated by Nero himself, wanting to rebuild a more marvelous city than the founders. But as most modern social engineers lean today, Nero’s first instinct was to blame Christians for bad government policy. Today, the same frivolous malefactors who ignited the blaze are now playing the fiddles and prescribing the solutions. Sifting through the embers of Rome and Wall Street, government plunder in the name of “social equality” was the culprit, and I am confident that in the weeks ensuing, Rome was a buyer’s market like no other.

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In 54 BC, Crassus took Syria as his province, and led a campaign to seize control of Asia and thereby rival the martial glories of Caesar and Pompey. The following year, he marched 30,000 Roman legionaries across the Euphrates River. The Parthian horse archers and cataphracts surrounded the legions, showered them with arrows, and smashed the surviving Romans into a humiliating surrender. Crassus was captured alive, and according to legend, the Parthians executed him by pouring molten gold down his throat. >>