We must not enable President Bush and the Congress to get away with what they think they have, imagined broad powers to spend away our rights and freedoms as American people.
Albany, NY (PRWEB) September 23, 2008
Taxfreesociety.com is organizing moral opposition to the proposed $700 billion bailout by the Bush administration of sub-prime bonds. The Tax Free Society holds that the bailout is immoral, impractical, and illegal. The Tax Free Society has started a Facebook group called "Stop the Bailouts!" to utilize the latest social networking tools.The organization is open to donations in support of its work.
"This is America's Reichstad Fire," says Lorenz Kraus, founder of the Tax Free Society.
"We must not enable President Bush and the Congress to get away with what they think they have, imagined broad powers to spend away our rights and freedoms as American people."
The Bush administration proposal has set fire to a groundswell of opposition. The attempt to give the federal government powers to buy and sell commercial bonds "as quickly as possible," is an attempt to subvert opposition to an unconstitutional and dangerous administrative power-grab, says the group.
Will the word of faceless economists justify the abandonment of the Constitution? Will public opposition rise in time to debate this massive increase in power to the federal government? The Tax Free Society posted an easy-to-use web-page called "Americans Protest the Bailout" explaining the cause of the sub-prime mess and a solution.
Taxfreesociety.com is organizing moral opposition to the proposed $700 billion bailout. The Tax Free Society holds that the bailout is immoral, impractical, and illegal. The Constitution does not does not give Congress power to make bailouts of any kind.
"The enslavement of the American people to a massive debt is akin to the imposition of a massive debt on the German people after World War I, except we haven't lost a war to deserve this," said Kraus. "The bailout bill is an enabling act to nationalize the American taxpayer as a slave to the incompetence and the whim of the Federal Reserve and the Treasury."
Property rights and individual rights are moral absolutes that prevent the state from using the American people as slaves for failed policies. "If we have a will to live, we have a right to our own lives, and the right not to buy junk bonds against our will."
Kraus advocates the abolition of the Federal Reserve and its fiat currency. The Austrian School of Economics of von Mises and Hayek held that fiat currency inflation is a tax. "America started on the rule 'no taxation without representation.' Bernanke is not my representative or yours, so who is he?" asked Kraus. Fiat currency causes inflation, deflation, and the business cycle. Many people hold the Federal Reserve responsible for the Great Depression. Ron Paul fans and supporters are expected to organize similar efforts to stop the bailout by working with the Tax Free Society.
The Tax Free Society has started a Facebook group called "Stop the Bailouts!" to utilize the latest social networking tools. The campaign against the bailout consists of spreading the message that if the bailout goes through, Americans reserve the right to cancel any debt associated with the bailout at a later date. The message to the bond market is "buyer beware."
The Treasury Department indicated that under the bailout plan, Secretary Paulson would have authority to buy home loans, mortgage-backed securities, commercial mortgage-related assets and, "other assets, as deemed necessary to effectively stabilize financial markets."
According to Kraus, the markets are unstable because of Bush's policies: devaluing the dollar, forcing banks to make loans to unreliable debtors, racking up mountains of debt on social programs and undeclared unconstitutional wars.
"Only a Harvard MBA like George Bush would think it is in the public interest to spend $700 billion on bonds worth $50 billion." Kraus added. "At this point it's all about covering his rear, the ugly legacy of bankrupting America under a mountain of irrational conservativism. To do it, he needs enormous powers to claim our lives for his purposes. Slaves would concede to that, but Americans must not."
Taxfreesociety.com was founded on the idea that there must be a way to respect property rights without violating them. On the premise that property rights are moral absolutes, further research explored a pool from one-time user fees, where profits are used to pay for security (police, courts, and defense), so that citizens do not have to pay anymore taxes. The motto of the society is "One-Time Fee, Live Tax-Free!"™ The Tax Free Society works to raise awareness of this unique solution to the problem of taxation. To support the Tax Free Society visit taxfreesociety.com