Get ready to loose more money

So like I said before, taxes are going up for us. I'm sure most of you have heard about all the crisis going on with Wallstreet and banks going broke. Well I've been reading that our taxes are going up because the reason this happened, so they say, is that people took out loans to pay for houses & such, that they couldn't afford. And the banks loaned them the money and the shit isn't getting paid. So banks are foreclosing, meaning ma' fuckas are loosing their homes, because they couldn't afford to pay the mortgage. Bush decided that the poor and working class did this so therefore he is raising all of our taxes to pay off their bankruptcy. McCain is in support of this and he plans to...continue to read... put this in effect if he becomes President.
I don't know if they expect us to pull this money out of ass, but it's their fault we couldn't pay the loans. because we're also fucking paying for health care, and for college education, and for transportation, and crazy interest on everything. We have to pay so much for everything. You see, channel 7 isn't even free anymore.
This is how they keep the poor poor and the working working.

Please vote for someone who will help us get out of this whole. This is effecting anyone and everyone, those over 18 & over tho, we're going to struggle. Let's vote for a President who will help us.

Below is a yahoo answers post that helped me understand what really happened, in detail.


Avatar wrote:

HOW IT STARTED
Mortgages: People bought houses they couldn't really afford with loans (mortgages) they couldn't afford to pay back. They agreed to monthly loan payments that started off cheap, then after a few years would get REALLY big! But people agreed anyway believing their houses would always increase in value or maybe they'd win the lottery. When the monthly payments did increase, they didn't win the lottery and couldn't afford to pay the higher monthly payments anymore. The banks then foreclose on them.

MEANWHILE
Mortgage Backed Securities: Banks and financial corps had made and sold "mortgage backed securities". They took those people's mortgage loans and broke them into little pieces and sold those pieces like they were stocks in a company. So when the people made their monthly mortgage payments their payments got broken up and sent to a whole bunch of different people who'd bought these "mortgage securities". Great investment... until the people paying can't afford to make their house payments anymore...

WHAT HAPPENED
So when the housing market went down instead of up a TON of big financial corps, investors, and banks got stuck holding all these worthless "mortgage securities" they'd already paid for (or taken out loans themselves to buy). So suddenly their companies have all these massive "losses" and debts on their books which makes them owe more money than they're worth. So of course they're now teetering on the brink of "foreclosure" themselves due to losing all their money on these bad "bets" they made (just like the homeowners).

THE BAD
So now all these big financial corps are going into "foreclosure" or close to it, and Bush comes up with a "plan" for all OUR TAXES to be used to "buy" the companies worthless bad bets/debts so they don't go under. And he gives everyone A SINGLE WEEK to decide on it.

THE WORSE
Even in a socialist country (where the "people" own the companies through the govt) they pay for the company losses AND benefit from profits when the companies do well. But we're being told to just eat the LOSSES and won't get any of the profits when/if the companies do make money again (unless you're already rich enough to buy stock in them...).

So, "We the People" are forced to buy big companies bad bets with our taxes without getting paid back (just maybe keep our jobs). Meanwhile millions of dollars per day of our taxes are also going for the two never-ending wars Bush already got us into the last time he told us "Do what I say or the world will collapse, decide in a few days or else".

All of this is added to the biggest national debt in all of history (which China bought all the "stock" in betting that we'd be able to pay them back, with interest...). God forbid they decide to call in our debts to them...

THE JUST PLAIN SICK
We're being told to do THIS with our tax money while we can't even afford our own homes or healthcare, and we go into massive debt to pay for our college educations. Now we're losing our jobs too. But we've been told over and over that we can't use our taxes to pay for those things cuz it's "socialist" and "bad", big companies running those things is "better" and the "American Way"... Do you want YOUR tax money to pay for the things that actually might make a difference in your own life, or going to the big companies that make YOU pay for those things AND pay higher taxes to bail out bad company bets? Make your choice (you've got 1 week to decide or else the world will collapse...).