Back in January, I like many Patriots from around the country, donated my hard earned money to get Republican Senator Scott Brown elected to office in the special Massachusetts election because he said he would vote no on Obamacare. He voted no on Obamacare but has since proved himself to be a RINO through and through.
Now comes the Dodd-Frank financial reform bill, the newest monstrosity heading to the Senate floor on Thursday and Republican Senators Scott Brown, and Susan Collins are siding with Obama and Reid and plan to cast the two crucial yes votes that will allow it to pass; but it's not too late to stop them.
Read the Liberty Action Report below and then call Brown's office and remind him that it was Grassroots Patriots from all over the country that got him where he is right now and come November, we can take him out!
July 14th, 2010 - Liberty Action Report: Let Senators Collins and Brown Know You Know About the Bank Tax!
Dear Liberty Activist,
Today, the editorial board of the Wall Street Journal called out Senators Susan Collins and Scott Brown for their support of the Dodd-Frank financial takeover bill. Both senators have expressed opposition to bank taxes, but nonetheless are supporting conference legislation that includes an unlimited bank tax. The Journal is the only media outlet anywhere to my knowledge to called these senators out for their hypocricy:
"More remarkable is that a handful of Republicans are enabling this regulatory mess. Mr. Brown and Ms. Collins say they now favor Dodd-Frank because Congressional negotiators agreed to drop the bank tax. But lawmakers didn't drop the bank tax. They only altered the timing and manner of its collection. Instead of immediately assessing a tax on large financial companies to pay for future bailouts, the final version simply authorizes the bailouts to occur first. The money to pay for them will then be collected via a tax on the remaining firms.
"Because this tax will be collected by the Federal Deposit Insurance Corporation, even opponents of the bill have viewed it as part of an insurance system. It isn't. Insurance is when you pay a premium and the insurance company agrees to replace your house if it burns down. A tax is when you pay the government and then the government decides which houses it wants to replace when there is a fire in the neighborhood.
"Under Dodd-Frank, if Firm A pays to cover the cost of the last bailout, there's no guarantee that the FDIC will rescue its creditors if Firm A fails in the future. This is fundamentally different from traditional deposit insurance, which guarantees the same deal for every bank customer. Dodd-Frank allows the FDIC to discriminate among creditors at its discretion.
"This transfer of wealth is a tax by any reasonable definition, borne by the customers, shareholders and employees of the companies ordered to pay it. Is this how Mr. Brown plans to reward the tea partiers who carried him to victory last winter in Massachusetts? Is this the key to a small business rebound in Maine?"
Although it looks like they have the votes, Senate Democrats cannot afford to lose a single member of their caucus, having already lost Senator Russ Feingold. Click here to email your Senators using CapWiz.
Also, let's give Senators Collins and Brown a call. Let their offices know that you know there's still a bank tax in the bill. Read the Journal to them if they start pleading ignorance. If they persist refer the staffers to pages 356 through 364 of the bill itself where the bank tax is located (see it for yourself, too). Ask them if they've read it or not.
If they say it's an "insurance fund" or some such, tell them that it is exactly like the $19 billion of assessments on financial institutions that they opposed minus the $19 billion limit, with they same sort of authorizing language.
Let's call them out. If we're going to lose our liberty and have taxation without representation by the FDIC on financial institutions of $50 billion and greater in assets, which will pass on the costs to you and I as consumers of financial products, to pay for government bailouts and takeovers of companies, we might as well let them know they are to be held personally accountable for their treachery.
Senator Susan Collins can be reached at (202) 224-2523, and faxed at (202) 224-2693. You can email her by clicking here.
Senator Scott Brown can be reached at (202) 224-4543, and faxed at (202) 228-2646. You can email him by clicking here.
In today's Liberty Action Report, environmentalists weigh in against wind farms, William Warren's latest toon outlines Eric Holder's notion of justice as it relates to the New Black Panthers case of voter intimidation, 44 percent of Americans have no opinion about the Dodd-Frank financial takeover, and no senator ever had the opportunity to even question Dr. Donald Berwick on what he meant about inevitable rationing of health care. Plus, the Washington Examiner's Michael Barone outlines America's new mattress economy.
Please send your letters to the editor to Robert@getliberty.org. We publish all points of view! Really, write in! I love to hear from you!
And keep fighting!
Senior Editor of ALG News
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