The latest bailout bonanza number, which includes the Citigroup rescue, is $7.7 trillion. That’s roughly half of America’s gross domestic product. However, some of the rescue efforts involve mere loan guarantees, which may cost nothing.
Louie Gohmert, a Republican congressman from Texas, has a common sense solution for our economic woes … no bailouts, no stimulus, and no income tax … a refreshing idea of actually putting more money into circulation.
Like millions of Americans, Congressman Gohmert was upset to hear disconcerting reports that some of the banks receiving bailout money will not use it to make more loans or shore up “troubled assets.” Instead the bailout money will be used to buy their smaller competition, basically using tax dollars to monopolize banking which will also provide fewer sources of credit and loans.
People from across the country have been contacting Representative Gohmert wanting to know what they can do to support the Congressman’s tax holiday proposal during January and February 2009 as an alternative to our government spending more on failed executive bailouts. Here’s what he recommends:
– Call your Congressman and urge them to support the plan. You can find your Representative by plugging in your zip code at House.gov (top-left text entry) and calling them through the Capitol switch board at 202-224-3121.
– Contact your local media stations and urge them to push the issue.
– Sign the online petition at RedState.com.
Louie Gohmert with David Asman on Fox News’ Cavuto (2008-11-28):
Louie Gohmert with Jon Scott on Fox News’ Happening Now (2008-12-03):
Related References …
the DIGG button. Then, on the page that opens, click the
“digg it” button on the left side to vote on it. THANKS.