$700 Billion Bailout Fiasco

The BEST way to oppose the fiasco known as the $700 billion bailout:
Vote for Barack Obama.

Obama will cut most taxes but raise them for people making over $250,000 a year.
Those are the people who can most afford it, and surely includes all the fat-cat CEOs, Wall Street brokers, and financial wheeler-dealers who got us into this mess. By taxing the wealthy, at least we will get some of our money back

McCain, on the other hand, promises more war, more bailouts for the wealthy, and a continuation of the failed Bush policies. McCain’s chief financial adviser is Phil Gramm, the architect of the
The Gramm-Leach-Bliley Act that eliminated the oversight of the financial industry in 1996.
McCain has for 20 years called himself “a deregulator.”  Well, that didn’t work.

It would be wise NOT to rush into this bailout. We don’t know who benefits. We don’t know if any further regulations will be put in place to prevent a recurrence. And, we don’t know if it will work, or how much it will cost.

Fleecing of Taxpayers

Fleecing of Taxpayers

~ by christianliberal on September 21, 2008.

4 Responses to “$700 Billion Bailout Fiasco”

  1. I agree that we should not rush in the bailout lest Washington will forget the people who are going to have to pay for this in the long term which is you and I.

    Please note it was not just the conservative and republicans that got us into the mess. The liberals and democrats were willing players in it as well. Clinton signed GLB into law. Both sides of the aisle are responsible.

  2. Agree with you the bailout is a mistake.

    But also agree with Terrant. Are Democrats lining up to defeat this proposal? Doesn’t look like it so far. They are lining up to tack on handouts, etc. etc. But they’ll likely pass it with no significant dispute. (Probably why this congress has the lowest approval rating of all time). Both sides are in over their heads on this mess.

    And we will soon know what Obama’s views on this bailout are when this thing goes to vote this week. Might be a good week for McCain and Obama both to skip voting.

    Finally, I hate to say it, but raising taxes in a severe economic downturn is not good economic policy, regardless of who will be paying them. Additionally, his tax increases on those making over $250k a year will make Americans have one of the highest upper-income tax brackets in the Western world. Accountants and Financial Planners are going to have a field day advising high-wage earners on how to legally avoid these taxes through various means that will likely have no positive benefit to the US economy.

    I watch this mess unfold with much trepidation…

  3. I appreciate your sincere and wise comments (both of you).

  4. Here is one for you:

    I took the pledge – Have you?
    Well the congress has done it.
    As of the morning of te bail out vote in the House of Representatives, polls showed that the American people were 74% against any bail out for the Wall Street fat cats. We wanted a fix from the bottom up and not from the top down. Fix ‘Main Street’ not Wall Street we told them. They didn’t do it.
    However they did agree with the bloated $700 billion the Senate passed for their greedy Wall Street friends with another $150 Billion of Pork. So now our children are on the hook for at least $850 billion and no one can tell us if it will work or will be the last.
    Meanwhile, ‘We The People’ continue to lose our jobs and homes.
    Our elected representatives have chosen to ignore us, ‘We The People’ whom they swore to represent.
    They think we are stupid. They think we don’t have the guts to clean house. They think ‘they know better’ than we on ‘Main Street’ do.
    So…
    I have taken the Pledge:
    I, (LILLIAN JOHNSON), will NOT vote for any incumbent in the upcoming election regardless of party or who the opposition may be. I intend to do my part in ‘throwing the bums out’ in Washington that continue spending my money on those that have wrecked our economy rather than the people who sent them there. This is my solemn pledge.
    Mail this to your Representative and Senators, to all your friends and all news media, both local and national. Email this to all the talking heads on the cable outlets, Lou Dobbs, Bill O’Reilly, Keith Olbermann, Chris Matthews, Alan Colmes, Sean Hannity, Rush Limbaugh and with every blog and talk show host you know of.
    Urge everyone you meet to take the Pledge.
    This the only way we, the American People, will ever take back our own government.
    They keep telling us that the only power we have is the vote. So… For once let’s use it!!!!!
    Believe me… if we turn them all out THERE WILL BE CHANGE!!!!
    Do we have the guts? Do you???
    If not, then you don’t have any right to complain if they continue to screw us over.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: