Just received from Senator Wicker was his explanation for why he did not sign the bill. Anyone with any sense can see that we are so-headed into a Marxist state with the take over/nationalism of financial markets. Please read Marx #5 of the Communist Manifesto in an earlier post.
Thank you Senator's Wicker and Cochran for your rational thought during this historic time in America's history.
Wicker Opposes Financial Bailout Legislation
Wednesday, October 1, 2008
WASHINGTON – U.S. Senator Roger Wicker, R-Miss., today issued the following statement after announcing he would not support the financial bailout legislation scheduled for a Senate vote tonight:
“The proposal being brought to the Senate floor tonight is an improvement from the initial Paulson plan. But at its core, this is still the same plan that calls on taxpayers to go $700 billion further into debt in an attempt to fix this problem, while doing absolutely nothing to prevent it from happening again. I have strong philosophical differences with this approach, and I will not vote to support it.
“I recognize the challenges facing our economy, and agree steps need to be taken to protect the middle class from the credit problems that stemmed from mistakes on Wall Street. However, it is more important for Congress to do this correctly than to do it quickly.
“The SEC’s announcement that it will ease mark-to-market accounting rules is a positive step, but there are a number of other free-market alternatives that I believe deserved more consideration and attention. The mortgage insurance program included in this package is one example. By altering this provision to require that Treasury insure these securities, financial institutions could use their own capital instead of taxpayer dollars to stimulate the stagnant securities market.
“We can also take steps to strengthen our economy and free up capital by empowering investors through a temporary or permanent suspension of the capital gains tax for individuals and corporations. Additionally, we finally need to get serious about changing our nation’s energy policy. We’re currently sitting on enormous amounts of domestic oil and natural gas reserves while sending $700 billion – the price tag of this bailout proposal – overseas to purchase oil. We can keep that money here in the United States by increasing production of our oil and gas reserves, something that will also create tens of thousands of jobs across our country.”
Some of the crap included in this bill is the section that gives the IRS the ability to give information from individual tax returns to any federal law enforcement agency investigating suspected "terrorist" activity, which can, in turn, share it with local and state police. Intelligence agencies such as the CIA and the National Security Agency can also receive that information.
The information that can be shared includes "a taxpayer's identity, the nature, source, or amount of his income, payments, receipts, deductions, exemptions, credits, assets, liabilities, net worth, tax liability, tax withheld, deficiencies, overassessments, or tax payments, whether the taxpayer's return was, is being, or will be examined or subject to other investigation or processing, or any other data received by, recorded by, prepared by, furnished to, or collected by the Secretary with respect to a return."
Yes, although most of us are not "terrorists", because of the lack of enforcing our immigration laws, we Americans, have to have surveillance on us as well.
Who of you are not seeing what is happening here?
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