Name:
Wednesday, October 01, 2008
Remember when I talked about $700 billion seeming like chump change? Observe:
Senate bailout bill keeps growing
The reason this one will pass is part of the dark underbelly of politics. I am STILL opposed to this bill, but now it's going to have things that sweeten the pot for me, chief among them the (at least one year) obliteration of the Alternative Minimum Tax, something that costs my family over $1000 in most years. That, along with a couple of other provisions, make it look pretty good for me.
Does that make it right?
No.
But it will take only a modest segment of the population turning around on this to give legislators the "courage" to vote for it. Once they sense that it might not cost them their seats this year, they'll switch their votes and betray the American people.
Note: I'm in no way claiming that voting this turkey down won't mean economic disaster for lots of folks, including us. So if that should happen, don't come back to me saying I was wrong. The likelihood of a recession, even a depression, does not mean we should take the proposed action and sustain the very system that got us here. Conversely, don't come back after this bill gets passed and everything's all hunky-dory again and claim that it was obviously the right thing to do. Like the auto mechanic used to say on TV, "You can pay me now, or you can pay me later."
We'll pay. And as with cars, the "pay me now" is less expensive in the long run.
Senate bailout bill keeps growing
The reason this one will pass is part of the dark underbelly of politics. I am STILL opposed to this bill, but now it's going to have things that sweeten the pot for me, chief among them the (at least one year) obliteration of the Alternative Minimum Tax, something that costs my family over $1000 in most years. That, along with a couple of other provisions, make it look pretty good for me.
Does that make it right?
No.
But it will take only a modest segment of the population turning around on this to give legislators the "courage" to vote for it. Once they sense that it might not cost them their seats this year, they'll switch their votes and betray the American people.
Note: I'm in no way claiming that voting this turkey down won't mean economic disaster for lots of folks, including us. So if that should happen, don't come back to me saying I was wrong. The likelihood of a recession, even a depression, does not mean we should take the proposed action and sustain the very system that got us here. Conversely, don't come back after this bill gets passed and everything's all hunky-dory again and claim that it was obviously the right thing to do. Like the auto mechanic used to say on TV, "You can pay me now, or you can pay me later."
We'll pay. And as with cars, the "pay me now" is less expensive in the long run.
Labels: Money, Political Observation
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