December 11, 2008 – U.S. Congressman Trent Franks (AZ-02) gave the following statement today in support of legislation introduced by Rep. Louie Gohmert (R-TX), H.R. 7309, which would rescind the remaining $350 billion of Secretary Paulson’s bailout funds and convert it into a two month income and FICA tax holiday.

“Fred Bastiat stated that government is that great fiction by which everyone endeavors to live at the expense of everyone else.” Franks said.  “Unfortunately, as we have seen these past several months, the model of redistribution of wealth and government bailouts is neither effective nor sustainable. 

“The Gohmert alternative plan would serve as a good first step toward putting both money and power back where it belongs – in the hands of the American taxpayers. 

“The highway of history is littered with wreckage of socialist nations that thought they could manage wealth and productivity better than free markets.  When citizens are the ones to make decisions as to what will benefit them and where to invest their money, productivity usually follows.  In this case, the American people would be the ones to determine where to invest their money--which companies will succeed and which will fail.”