Elizabeth Crum

I was recently encouraged, by the executives of an organization that shall go unnamed so I can keep my day job, to write a letter to my Congressman touting the benefits of the Fix Housing First Proposal.

Here’s my letter.

Dear Congressman (or woman)(or Dina Titus):

Rumor has it that you are considering additional action in re: to the housing market. As I understand it, the Fix Housing First proposal consists of the following:

1. The federal government will offer a gi-normous and historically unprecedented supercalifrajalistic tax credit to anyone buying a house in 2009, and anyone who took last year’s lesser tax credit or bought their house prior that can bite the proverbial Big One because they aren’t getting doodleley squat. In essence, those retards who had the poor sense to purchase a domicile before you and your Wall Street pals f***cked the economy into a coma are SOL: too bad, so sad, cry me a Hudson River, etc.

2. In addition – and again, this is only for those bless’d and priveleged few who choose to buy homes in 2009 – the federal government will guarantee a super-sweet taxpayer-subsidized loan at a low, Low market rate of 2.99 or 3.99. Those who were short-sighted enough to finance their homes at 5, 6, or 7% – what a bunch of losers!! – will just have to continue at those rates and hope that sometime in this millenium, they or their unfortunate descendants can break even…or at least not have to file bankruptcy and sell special personal favors out behind the local WalMart.

Naturally, as someone who enjoys being regularly screwed over by my elected officials, I support the Fix Housing First proposal. In addition to priveleging a few citizens over the vast majority and attempting to artificially stimulate an entire industry with the taxpayer dollars OF that majority, it will effectively grind into dust my last vestiges of faith in fairness, equity, and the American Way.

I now realize that virtues such as these are for fools and idealists, and I thank you for freeing me from the naïve weltanschauung that has enslaved me for the better part of my life. Now instead of wasting my time aspiring to liberty and justice for all – what crack-smoking maniac thought up THAT ridiculous concept? – I can now embark on a life filled with bitterness, vitriol and rage and go to my grave cursing both man and God, as is only befitting of an enlightened person of the twenty-first century.

Congratulations on your confirmation into Congress.

Sincerely,

Citizen Sue

I didn’t mention Dean Heller’s congressional race in my prediction blurb because he’s going to crush Democrat Jill Derby and I assumed everyone knew that.

NV Congressman Dean Heller is holding his lead over challenger Jill Derby. 

Heller voted against the $700 bailout bill (twice) and has consistently complained about the spendy RINO (Republicans in name only) in D.C.  Heller represents our second district, which encompasses most of rural Nevada.  A little history:

Heller announced his run for the House in 2005.  He won the GOP primary for the seat being vacated by Jim Gibbons who was then running for governor.  In the primary, Heller received 24,781 votes to Sharron Angle’s 24,353 (squeaker!) and, interestingly, to Dawn Gibbons’ (yes THAT Mrs. Gibbons) 17,328.

In the general election, Heller defeated U of NV regent and Dem candidate Jill Derby by about 5%.  Although he lost Washoe County/Reno, he won in the rural areas by a margin of over 2-1 and took the election by over 12,000 votes.

I’m borrowing my post header from P.J. O’Rourke.  (VERY funny book if you have never enjoyed it.)

I do wish names would be Named, no matter the party affiliation:  who started and voted for all of the federal legislation, who harassed the lenders to conform, which lenders not only conformed but went above and beyond the call, and who made big bucks.

It won’t happen, of course, because they are all in bed together to some degree.

As Anne of Idaho quipped, “Someone needs to go to Washington and Wall Street and close down the whorehouses.”

The following letter was sent yesterday to Treasury Secretary Henry Paulson:

September 24, 2008

The Honorable Henry Paulson
Department of the Treasury
1500 Pennsylvania Ave., NW
Washington, DC 20220

Dear Secretary Paulson:

As you continue to craft a financial stabilization plan with Congressional policymakers, I wanted to once again urge you to consider a move that could be executed unilaterally by the Treasury Department: indexing the basis of capital assets to inflation for purposes of calculating gain or loss.

There is a body of legal opinion which holds that the Treasury Department has the power to define “cost basis” when taxpayers calculate capital gain or loss. To date, Treasury secretaries of both parties have chosen to define “cost” as nominal purchase price.

This creates a situation whereby an asset held for many years and later sold may generate a capital gains tax liability when much or all of that gain is purely from inflation. For example, a stock purchased in 1990 for $1000 and sold today for $1676 would face a capital gains tax liability on the $676 “profit.” But in reality, 100% of that “gain” is attributable to inflation.

If the Treasury Department were to re-define “basis” to discount the effects of inflation, it would have a timely and pertinent effect on the current financial challenges. Households and businesses would be able to sell assets, unlock liquidity, and pay a much lower level of taxes. This liquidity is badly needed by capital markets. Best of all, this can be done by you unilaterally, substituting Congressional permission in favor of mere consultation.

Sincerely,
Grover Norquist

– E!! says:  This is better than nothing, but I’d like it much more if we eliminated the capital gains tax altogether.  (Yes, I realize that is probably a pipe dream.  That being the case, Grover’s suggestion is excellent.)

Adapted by Elizabeth Crum - E!! - from “A kingdom for a stage” by William Shakespeare [from Henry V]

O for a Muse of moderation, that would ascend
The brightest netwave of invention,
A kingdom for a sage, senators to act
And bloggers to behold the swelling scene!

Then should the warlike pol, like Reagan,
Assume the port of Mars; and at his heels,
Leash’d in like hounds, should dollar and dividend
Crouch for employment. And pardon not, O Blogivists,
The doltish congressmen who dare

On their unworthy stage to recommend forth
Their idiotic plans:  can that intellectual vacuum hold
The vasty notions of fiscal responsibility?  Or will we cram
Within this week the very blunders
That did affright the kings of Wall Street?

O, pardon! since a crooked politician may

Protest while pocketing a million;
So let us, Bloggers in this great sphere,
Type, click and upload on screens galore.

 Today within the corridors of Congress
We see confined two indistinguishible parties,
Whose egos are exceeded only by their greed
And perilous corruption splits all asunder:
Piece out their imperfections with your posts;
Into a thousand parts divide their rhetoric,
And make it clear to all who rule this realm:

The Blogosphere, in all its glory rides

Printing our apt remarks i’ the receiving Web;
For ’tis our thoughts that now shall thump our kings,
Chase them here and there; Twittering and
Turning the empty accomplishment of many years
Into pithy posts:  for the further supply of which
Welcome us Bloggers to this great Webstory;
We pundit-like your online reading pray,

Bookmark our blogs, and kindly judge our daily Play.

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