Pence: Financial “Reform” Bill Will Kill Jobs, Raise Taxes, Make Bailouts Permanent
Mike is on the House floor telling us all the negatives of H.R.4173, the Restoring American Financial Stability Act, AKA Wall Street Reform:
Rep. Pence tells the members of Congress at a time of economic duress, with millions out of work and failed economic policies it is ironic that a bill with the words “financial stability” in it will do anything but create financial stability.
He tells us people are not looking to Washington D.C. for more taxes, spending and bailouts. They are looking to Washington D.C. for creating jobs, to set their partisan differences and big government agendas aside, and to put together something that will put Americans back to work. Pence tells us this bill will kill jobs, raise taxes and make bailouts permanent. According to Pence this bill will:
■Kill jobs by restricting access to credit.
■Kill jobs by raising taxes on those who would provide loans and opportunities to small businesses and farmers.
■Makes the “bad ideas” of the Wall Street bailout permanent.
The freedom to succeed must also include the freedom to fail. And personal responsibility must be a part of that. This bill codifies the idea of “too big to fail,” allows the government to pick “winners and losers” and the Treasury will have authority to decide which creditors to pay back and when they’ll get paid.Yes to traditional bankruptcy, and no! to bailouts. We’re here to protect taxpayers, not Wall Street.
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Boehner Has A Few Questions For President Obama
John Boehner “This isn’t the picture of a recovery, this is the epitome of failure”
Wild Thing’s comment…….
God bless both of these men, we really do have some good guys on our side.