Instapundit » Blog Archive » JOHN STOSSEL: Government Is The Biggest Job Killer. I guess Obama doesn’t know that the Transcon…: "Credit Mobilier, the first rail construction company, made enormous profits by overcharging for its work. To keep the subsidies flowing, it made big contributions to congressmen.
Where have we heard that recently?
The transcontinental railroad lost tons of money. The government never covered its costs, and most rail lines that used the tracks went bankrupt or continued to be subsidized by taxpayers.
The Union Pacific and Northern Pacific — all those rail lines we learned about in history class — milked the taxpayer and then went broke.
One line worked. The Great Northern never went bankrupt. It was the railroad that got no subsidies.
Incredible.
Posted by Glenn Reynolds at 10:30 am"
Check out Burt Folsom's "
Myth of the Robber Barons". Then ask yourself if it was accidental that they never told you the truth about James J. Hill.
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