AD: The Congressional Sellout To Socialism - Malcolm Hedges - Oct 2, 08

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The Congressional Sellout To Socialism
By Malcolm Hedges (10/02/08)

The Congressional elitists have demonstrated that they have no concept of economics or social economics. If they manage to push thru this massive boondoggle the USA will no longer have a viable economic structure.

This "bailout" monster must be defeated and several small smart bills passed to revive the credit system:

1) Rescind the "mark to market accounting method rule".

2) Suspend "Capitol Gains" taxes for 5 years with review required.

3) Reduce Corporate taxes to 10% for 5 years with automatic renewal.

4) Suspend all taxation of private savings and give a 3% non-itemized tax credit for all new private savings.

5) Give a non-itemized 50% credit for all sales and usage taxes paid on purchases exceeding $100.00 per individual tax per item.

6) Raise the FDIC insurance to $250,000 per account.

Credit is NOT freezing or frozen, it is getting back to some sort of normalcy. You need some basis for being granted credit! Duh!

If the "Sellout To Socialism'' is passed by Congress, the economy will continue to stumble, inflation will spiral and the Democrat desired Recession will continue.

(Printer friendly version) Email: Malcolm Hedges

Malcolm generally writes with a conservative view.
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