THE FOLLOWING PETITION AND THE LIST OF SIGNATURES WILL BE FORWARDED TO OFFICES OF THE GOVERNOR AND THE TENNESSEE LEGISLATORS AS SIGNATURES ARE ADDED.
We the citizens of the State of Tennessee wish to express our concern regarding the acceptance of the Federal Stimulus Package and any future such packages by the State of Tennessee to Governor Phil Bredesen and the Tennessee Legislature. In short, we would like for you to reject all such money. We believe acceptance of these dollars calls into question the sovereignty of any states that accept it. Furthermore, we feel certain that the ongoing expenses associated with continuing new and amended programs in the State of Tennessee as a result of this package will result in additional tax burdens for Tennesseans after Federal Stimulus dollars run out. Finally, we wish to express our desire to reject the Stimulus on the merits that it is inconsistent with the sound principles of free market economics that have brought centuries of prosperity to our country. All known such Keynesian attempts at economic intervention have created severe economic burdens for those of whom such government intervention has been forced. While we understand that we and our descendents are being forced to accept responsibility for this burden, whether we Tennesseans accepts these dollars or not, we reject such responsibility in principle. Hereby, we provide our verbal denial of our desire to accept financial responsibility for any such Bailout, Stimulus, or Spending Plan, in any form, be it payable through tax increases or the devaluation of our dollars through inflationary pressure produced by the Federal Government and the Federal Reserve.
Commentary: If Tennessee will stand with its citizens in rebellion of this and other economic spending sprees, perhaps the citizens of all states will make their voices heard as well and reject this package. If all states will stand firm together, the package will be rejected and this money will not be wasted burdening our children and grandchildren for decades to come. Though we are in a recession, the economy is not nearly as bad as during the recession of the 70’s and nowhere near that of the Great Depression. We as citizens and thousands of respected economists are confident that the best way to a quick recovery is through a reduction in the size of government and taxes on citizens and corporations. Reducing individual tax burdens will inspire spending and reducing corporate taxes will inspire new investment from around the world. Americans have great resolve and we can help lead the world out of this recession if we act now, but continued mass government spending regardless of the beneficiary will only lead to a longer, slower recovery and inflationary pressure that will devalue every dollar we have.
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Tennessee Legislature: http://www.legislature.state.tn.us/
The corollary to Laissez Faire Economics is Efficient Market Investing. It seems the only folks besides the Cubans, North Koreans, and recently our Federal Government who believe interventionism works are the active managers on Wall Street who make their living by getting you to believe that either they can pick the right stocks or time the market. We believe that markets are relatively efficient (excluding the governments meddling) and that the best way to achieve long-term market returns is by simply “buying the market.” To learn more about us, our academically based investment principles, or our thoughts on the current economy, visit our websites or call us. We converse with the nations top economists daily and would be happy to give you our thoughts.
Eddleman & Eddleman, LLC
Archetype Investment Advisors, LLC
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Economics: www.Mises.org Conservatism: www.Heritage.org Liberty: www.Cato.org Bank Reform: www.TheMoneyMasters.com Activism: www.CampaignForLiberty.com Investing: www.Eddleman.biz West TN Conservative Radio: www.WTJS.com www.WNWS.com www.GraceBroadcasting.com www.AFR.net
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