Stop this Bailout
Posted on Saturday, September 20th, 2008 by catalyst into the Finances categoryOur country is on the precipice of initiating one of the greatest bailouts in the history of the world. It will essentially completely socialize our financial system. And then you can begin referring to me a Camrade Catalyst.
However, there is a chance to stop or at least alter the outcome. All you have to do is contact your Representative, and tell them to oppose any Bailout of Wall Street without a significant tax increase on the Finance system.
For example, this could be accomplished by a 1/4 percentage tax increase on all stock sales. Or by an increase in the estate tax. Or they could raise the capital gains tax.
If Wall Street wants tax money, then they can pay for it through higher taxes. Don't fool yourself, someone is going to have to pay for this, and I don't want it to be me. And I don't want it to be my children. (Well, I don't actually have kids. So I don't want JP's kids to have to pay it.)
Here's the link to finding your representative:
https://forms.house.gov/wyr/welcome.shtml
If your Representative is a Democrat tell them you'll vote for the Republican in the fall. And vice versa, if your Representative is a Republican, tell them you'll vote for the Democrat. I worked in DC for five years, and trust me, Congress pays attention to their constituents, and they are desperately afraid of not getting elected next year.
Anyway, I just called my Congressman. There is no reason we as taxpayers should be on the hook for the greed and stupidity of Wall Street.
Update:
George Bush and the Republican Administration wants unfettered access to 700 Billion dollars to help protect you from financial ruin.
http://www.nytimes.com/2008/09/21/business/21cong.html?hp
How come this all feels so familiar? Oh yeah, that's what they said about Iraq too.

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