It is quite a rarity that something political moves me to blog about it, but this $700 billion bail-out for the mortgage companies disturbs me...deeply. I am amazed at how freely Bush is willing to spend the money of hard-working Americans to bail out companies that lent money to people who didn't qualify for that money to begin with.
To quote this Yahoo! article: "The dramatic drop in the stock market that we saw yesterday will have a direct impact on retirement accounts, pension funds and personal savings of millions of our citizens." To me, this says, "We're going to keep the assets of the wealthy who have retirement accounts, pension funds and personal savings by taxing the working-class even more to bail out these companies who got greedy during the housing boom."
I am quite sure that if my company made poor decisions on what to invest in, GW wouldn't be working so hard to bail me out of my financial ruins. Please, contact your representative and let them know how YOU feel about spending $700 billion of hard-earned tax dollars.
Write your representative <---- click here
9/30/08
Are you SERIOUS?!
Posted by Mason Fleske at 10:58 AM
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2 comments:
Your logic is seriously flawed -- you should really take the time to research an issue prior to condemning it publicly.
What is it that makes you think that it's only the wealthy that have "retirement accounts, pension funds, personal savings?" The fact of the matter is that it's not the wealthy that are the hardest hit -- it's the retiree or soon-to-be retiree that had worked long & hard their whole lives in order to enjoy a reasonably comfortable retirement that will be the hardest hit because they have no means to replace that loss of capital.
I think if you take the time to research this "bailout" at all (& by "bailout", I mean "loan") instead of relying on some other person's uninformed opinion, you'll discover that the Senate has actually included tax breaks for "the working-class" as part of the plan.
I hardly consider my personal blog "public" as I have all of 5 readers. And, as an American, I am entitled to my uninformed opinion. Thanks for checking in, though.
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