Nancy Pelosi and Barney Frank held a news conference this afternoon. Pelosi looked more smug than usual, which I didn’t think was possible.
She announced they are in negotiations for a new stimulus package. I’ve heard it could cost between $50 and $100 billion. They want to help people with their credit cards, help people avoid foreclosure and heat their homes. The list goes on and on. She came out and said they “want to meet the needs of the American people.”
That’s the most un-American thing I’ve ever heard. Did the founders of our country think the government should “meet the needs” of the citizens? Sure, we need government for certain needs, like protection, but when did it become the government’s job to heat our homes or put food on our tables?
Pelosi also announced that they are not in favor of a reduction in capital gains taxes. This woman and her pals have absolutely no idea how the ecomony works. Right now we need more capital, if we lower the capital gains tax capital will flow into the system!
Pelosi then had the gall to say that because of the hard work of Barney Frank that the taxpayers will be protected because they are going to reform CEO compensation. As if that’s what got us into this mess!
Forget the Paulson plan. Forget the whole bailout. With the Democrats at the helm the problem will not be solved. How will this be avoided in the future if people don’t learn that they can’t borrow money when they’re unable to pay it back?
Read about the Democrats’ stimulus plan.
Well there’s good news and bad news. First the bad news: The Democratics in congress have blocked all legislation to preserve my wealth and want to transfer the rest of it to someone else. Now the good news: I won’t have much wealth left to transfer after this abismal performance.
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I hear you. I made the mistake last week of checking my IRA, by the 18th I’d lost 20% of 17 years of savings. Where do you move the money? I can’t even cash it, or they’ll take another 50% or so in taxes and penalties. What’s a girl to do? Is 25 or 30 years going to be enough to make it up? The way it’s looking…probably not. I’ll just work until I’m 80. Thanks, Democrats!
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