Pssst! Maxine Waters (D, CA)!

Just thought I’d let you know: about this?

The CBC is trying to help by organizing job fairs across the country. [Congresswoman] Waters also wants to help by putting more pressure on the big banks to help with mortgages.

“If they don’t come up with loan modifications and keep people in their homes that they’ve worked so hard for, we’re going to tax them out of business,” Waters said.

Hate to break it to you, but you know those elections that we had last November?  You know, the ones that led to a sudden glut of Democratic staffers on the DC job market?  Funny thing about that, but one of the reasons why the Republicans…

You know.  The Good Guys.

…did so well in said elections is because our politicians ran on a platform that more or less explicitly promised that if they were elected then Maxine Waters would be allowed to tax precisely two things: jack, and [expletive deleted].

No, really.  It was almost a bumper sticker.

Via TaxProf, via Instapundit.

Moe Lane (crosspost)

6 thoughts on “Pssst! Maxine Waters (D, CA)!”

  1. When I come into my own as God-Emperor of this spiral arm of the Galaxy, it will be a felony (at least) for a bank, finance company, &ct. to describe what they do as “loans” or “lending”. What they actually do is provide money for rent, in exactly the same way Hertz provides cars: you pay a fee for using it, and have to give it back when you’re done.

    Ms. Waters isn’t the only one whose understanding of the situation is “when you want a house, the bank gives you money to buy one.” Using more-appropriate terminology might tend to clear up that misconception.


  2. @Ric: In the book The Richest Man in Babylon (financial education wrapped in just enough fiction to be entertaining), the characters refer to interest in just those terms, paying rental on the money to the moneylender. It’s also my understanding that this is the common approach in the Middle East today (flat rent on the money lent), but I could be mistaken.

  3. I don’t think you’re mistaken, Oyster. Because interest is forbidden by the Koran, you’re paying a fee to rent the money, not interest.

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