This is my letter to Rep. McDermott:
Dear Rep. McDermott,
I am furious beyond words at the audacity of Treasury Secretary Henry Paulson. On the one hand, he refuses to adhere to what we know from history is the only way to secure an economy from the kind of collapse that we are seeing happen before our eyes. And with the other hand he is asking the taxpayers of the United States to give him a hand-out of between $700 Billion and $1 Trillion dollars.
What I understand is that the people who got us into this mess are now begging for our help to get us out. I find that outrageous, and unforgivable.
Please introduce an amendment to the Wall Street Bailout Act currently being reviewed by the US House. The amendment needs to increase the taxes on people earning more than $500,000 per year sufficient to match the amount between $700,000,000,000 and $1,000,000,000,000 that Secretary Paulson is asking for. Pay as you go.
If this amendment is not introduced or does not pass, I ask you to please vote NO on this bailout. Or please explain to me why it is worth giving $700 Billion Dollars to people who have proved to us that they cannot be trusted with the money in words that I can understand.
Thank you for representing us in Washington DC!
Now I'm going to say what I wouldn't say in the letter, but if Jim reads this on my blog he'll get the full message. I believe that what Secretary Paulson, President Bush and Fed Chairman Bernanke are doing amounts to criminal negligence at the low end, and TREASON at the high end. They are stealing money from the American People. I want that to end, and if criminal charges can be brought to bear I want all three of them in prison. I'm sick of this.
Read your history, everyone. Read the history of the stock market crash of 1929. Read about the hyper-inflation in Germany in the 1920's due to their debt from World War I and the collapse of their currency. Read the history of how the Roman Empire fell, and about the 1,400 years that passed before we were able to recover from that stock market crash, which is what it was. READ!!!