Why You Should Fire Your Legislators
- Did your representative and/or senators vote for the bailout plan?
- Do you rent or own a home?
If you answered “yes” to both of these questions, you should fire your legislators.
Congress passed, and the President signed, legislation to spend $700,000,000,000 (yes, all of those zeros belong there) to buy mortgage-backed securities. That legislation “encourages” the administration to rework mortgages for homeowners.
“Encourages” is far too weak.
If you were duped into a “non-conforming” or “sub-prime” loan by some swift-talking broker who assured you that the inevitable appreciation of your home would allow you to refinance your ARM or balloon, this legislation left you where you were: upside-down on a mortgage you can't afford or refinance.
If you own a home with a conventional mortgage, this legislation left you where you were: stuck in a home you cant sell, even if you want (or need) to relocate.
If you rent, this legislation left you where you were: at risk for being evicted when the bank forecloses on your landlord. People who pay their rent responsibly are coming home to find the picked-over remains of their belongings at the curb.
But at least people who receive millions of dollars a year in compensation will be safe. And they did manage to attach $150,000,000,000 (yes, all of those zeros belong there) of pork to it.
Oh, and this:
The bailout bill also gives the Internal Revenue Service new authority to conduct undercover operations. It would immunize the IRS from a passel of federal laws, including permitting IRS agents to run businesses for an extended sting operation, to open their own personal bank accounts with U.S. tax dollars, and so on. (Think IRS agents posing as accountants or tax preparers and saying, “I'm not sure if that deduction is entirely legal, but it'll save you $1,000. Want to take it?”) That section had expired as of January 1, 2008, and would now be renewed.
– Source: cnet
What to do:
Even if your legislator's opponent stands for things you abhor, it is worth considering this sacrifice (for two or six years) to hold accountable those legislators who failed the American people.
What about the Presidential candidates?
Both Senators John McCain and Barack Obama voted for this betrayal of hard-working Americans. Neither deserves your vote.
Have more backbone than your legislators. As their employer, it's your responsibility.