Economy

Historical Note to Santelli and Malkin

Before you open your spazzy yaps, read some history.

FACT: The Boston Tea Party was mainly precipitated by what amounted to a corporate tax cut.

Colonists, disgusted by the Stamp Act and other oppressive British legislation, organized a boycott of the world's first mega-corporation: the British East India Company.

In order to ameliorate financial losses caused by the boycott, Parlaiment passed the Tea Act of 1773, which significantly reduced the taxes/duty on tea sold by the East India Company, thus allowing this mega-corporation to sell directly to the colonies and to significantly undercut independent prices offered by smaller colonial tea companies.

And so the famous Boston Tea Party was organized.

This "uprising" by Malkin and Santelli, ostensibly to protest helping middle and working class homeowners, is more closely in line with having a tea party -- in support of the British East India Company.