February 26, 2009
Bailout fatigue
I have yet to meet anyone happy about Obama's mortgage bailout plan, which basically consists of the 92 percent of us who have been living within our means being forced to give money to the 8 percent who purchased more home than they could afford -- or simply didn't give a damn about paying their bills and honoring their debts and obligations.
Anyone who has kids, pets, or works in the criminal justice system knows that if you reward bad behavior, you get more of it.
That's what this does: It not only rewards bad behavior, it punishes good behavior, too. It essentially says to the vast majority of Americans, "You chose not to over-leverage your assets? You stayed in your smaller, cheaper house, opting to forgo the McMansion? You're paying your bills on time?"
"Suckers."
There's a growing anger amongst the 92 percent, people wondering what we can do, given that no one in Congress seems to be listening.
Donald Sensing has an idea that makes sense.
There is already a widespread "American Tea Party" movement with growing momentum and big publicity. Piggyback a mortgage revolt on it.
Incorporate into the Tea Party movement this item: everyone who opposes the mortgage welfare plan ask for a three-month extension on filing their IRS forms 1040.
This extension to file is granted automatically to any tax filer who asks. It does not give you three additional months to pay income taxes, which is a shame, but consider: If the administration and Congress learn that millions of taxpayers, nay, tens of millions, have filed extensions, then the impact will strike home. A postcard from each mortgage rebel to their representatives and senators stating why they've extended will amplify the protest. This simple protest gesture will also be amplified if already associated with the general taxpayers' Tea Party revolt movement.
I contracted to pay my mortgage on time and in the last 14 years have done that every month. I will for the rest of the note, too. Short of actually "voting the bums out," we have to get a signal to our political overlords that we are watching, we are paying attention. Mass filing extensions, accompanied by postcards to Members and already linked to a mass movement, can help fill the gap.
I think this is a simple, effective, legal means of putting our Congressional Overlords on notice, without undermining the very system of laws and contracts that Congress -- and the deadbeats -- want us to throw overboard, at least for the 8 percent.
And so the Tea Party begins.
Posted by Mike Lief at February 26, 2009 07:15 AM
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Comments
It's over. The U.S. is done.
Posted by: Ronald at February 26, 2009 06:25 PM
Just this morning I was thinking about how far-removed we are from those that govern. They have no clue what we are thinking and what we are thinking does not seem to affect what they do in office.
I too have sacrificed a great deal to pay my mortgage each and every month. I think I'm doing it. I still think they won't get it, but at least I will feel like I am doing something.
I kind of agree with Ronald. Very sad.
Posted by: Thin Ice, Sr. at February 26, 2009 07:54 PM