Saturday, September 27, 2008

GOP Blackmail on Bailout to Help the Rich

The Republicans are using the seeming urgency of the need for this bailout and demanding items to be added that have one and only one purpose, the help the wealthy.

First they are demanding a tax cut. One for the middle class, of course not these are Republicans. They are actually trying to push through another capital gains tax cut. Does this help the current crises in any way. No of course not. It helps the wealthy who may profit from this rescue to make even more money but cutting their taxes on their gains.

But the most disgusting item they are pushing for is to repeal The Community Reinvestment Act. This act which was first implemented in 1977 and adapted in 1995, has as its purpose to require banks to invest in all areas of their market not just the wealthy neighborhoods. The repeal of this act would destroy our urban neighborhoods and severely restrict the growth of small businesses and jobs in the inner city.

So as they did with the Iraq War Vote and the Patriot Act they are trying to sneak in things that the majority of Americans would never want. This will once again benefit their wealthy donors and harm the middle class and the poor.

I am beginning to believe this entire "crises" is a Republican Scheme to try to hold on to some of the house seats they were about to lose in huge numbers.

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