Betting against the House

The more I hear about this bailout plan, the more pissed I get. So I wrote a letter to my Congressman and, if you agree with me, I hope you will too. Here's the letter I sent:

Dear Sir,

I'm sincerely hoping that when the new $700 billion bailout plan comes to you for a vote, that your vote will be a loud, resounding "Nay". The definition of insanity is doing the same thing over and over hoping for a different result - how much good money will have to be thrown after bad before we learn this lesson and try implementing new programs that don't continue to reward the criminals of Wall Street for their illicit behavior?

On top of that, the idea that this bill was "sweetened" with an additional $100 billion in tax breaks has me absolutely furious, seeing that these particular tax breaks don't do very much for the lower and middle class taxpayer. AMT doesn't apply to as many of us as you may imagine - it's like saying you'll give me a free oil change with the purchase of a Bentley, when all I can afford to drive is a Honda Fit. Nice of you, but it really won't do me much good.

You want to do some real good? Scrap this incredibly wasteful bill. Instead, why don't you give taxpayers making $100,000 or less a tax holiday - anyone in that bracket doesn't have to pay income tax for the next two years, and any withholding that they've had deducted from their paychecks for this year will be refunded. I'm no economist, and I haven't run exact numbers on this idea, but I assure you it would be more beneficial to all involved than the absurd giveaway that you're currently entertaining. You want a stimulus package? There's your stimulus package.

I'm asking you to stand up, Sir - in the face of being unpopular, in the face of oppressive lobbyists, in the face of Wall Street giants - I'm asking you to stand up for the rest of us and do what's right.

Thank you for your time.


So that's my take; what's yours? Dial up your congressman - let 'em know.