Issue 5 Wins Valuable Bob Taft Endorsement
Friday, October 31st, 2008 By Marc Kilmer
Perhaps the people over at Progress Ohio didn’t live through the Taft Administration. Or perhaps they are fond of his tax-and-spend brand of Republicanism. Whatever the reason, they are trumpeting the fact that Bob Taft has joined his fellow former governors to endorse restrictions on payday lending.
In his statement, former governor Taft claims that Issue 5 is about financial freedom. I’m sure in his mind a government ban on what types of lending you have access to is indeed financial freedom. Just like his tax increases were probably, in his mind, a way to promote financial freedom. In my view, though, financial freedom comes from less government involvement in my life, not more.
If those opposed to payday lending agree with this kind of backwards thinking and agree that Bob Taft’s endorsement is valuable, then more power to them. It shows their understanding of politics is about as perceptive as their understanding of economics.
Tags: bob taft, issue 5, payday lending, Regulation
