An Open Letter To Nancy Pelosi

NOTE: This open letter is a works in progress. Like the U.S. Congress, we the people reserve the right to 'tweak' legislation to for OUR needs. In this case, to control the Congress and force the Congress back under the control of the American people.

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Dear Ms. Pelosi, (And I use the term ‘dear’ very loosely) Since you have shown the American people, whom you work for, so little concern in the reckless spending of their money through an 800 billion bailout (It began at 700 billion; An additional 100 billion of pork was added) to boost confidence in our nation’s financial markets, may I offer some advice that may allow you to save face with your employer, the American tax payer? We the people want to see some common sense legislation coming out of Capitol Hill. The following is just a few ideas you may introduce into law on our behalf.

The American people depend on their 401K and IRA plans to fund their retirement. The market meltdown, caused by the employees of the American people, the elected representatives, has cost billions of dollars through legislative mismanagement and lack of oversight of the mortgage and banking industry. The American economy through policies designed to enrich the top few upon the backs of the working class is in a shambles. This is not the doing of the American people. This is the work of the Congress who has little oversight on them. The Congressional oversight committee, the American media, has abandoned this responsibility for partisan reasons.

We the people demand to see the following items included in a bill that will truly benefit the American people, not the politician elites and their cronies.We demand a tax deduction to be claimed by individuals who have 401K and IRA plans. This deduction will be equal to the amount lost since January 1st, 2008 for each 401K and IRA plan owned by each American. Politicians and their immediate families will be exempt from this deduction, since you got us into this mess. Said tax deductions will continue until the 401K and IRA plans regain in value to equal their pre 2008 value, which at that time, the deductions will cease.

We demand a tax deduction for those who have not claimed bankruptcy or who are not in foreclosure on their home. This deduction shall be equal to the dollar amount depreciated from their home over the last three years, using the following formula; Home value depreciation will be calculated from January 1st, 2006 to January 1st 2009. The homeowner will be allowed to claim as a loss, the loss in equity in their home for the said three year period.

I would like to bring to your attention Ms. Pelosi, because you appear to be so far out of touch with mainstream America, that there is a perception among the American people that the Congress of the United States is rampant with issues of conflict of interest. We are unable to understand why a multi-millionaire such as yourself, Ms. Pelosi, would desire to run and hold political office for $169,300 per year (2008 figure), unless there is something to be gained financially by holding office. We the people demand the following;

All politicians and their spouses must implement a blind trust for their holdings and assets. A blind trust is defined as; A trust in which the fiduciaries, namely the executors or those who have been given power of attorney, have full discretion over the assets, and the trust beneficiaries have no knowledge of the holdings of the trust and no right to intervene in their handling. Blind trusts are generally used when a settlor (sometimes called a trustor or donor) wishes to keep the beneficiary unaware of the specific assets in the trust, such as to avoid conflict of interest (See Barney Frank) between the beneficiary and the investments. Politicians or others in sensitive positions often place their personal assets (including investment income) into blind trusts, to avoid public scrutiny and accusations of conflicts of interest when they direct government funds to the private sector. Source: http://en.wikipedia.org/wiki/Blind_trust

Furthermore Ms. Pelosi; it will be mandated that the blind trust remain in effect for a period six years after a politician leaves office. Upon conviction of congressional member of a felony crime or for impeachment involving conflict of interest, said trust will be turned over to the U.S. Treasury. After a fair trial, unlike an IRS preceding, where an American taxpayer is considered guilty until he proves himself innocent, the trust may be returned or confiscated according to the outcome of said trail.

So that we the people of the United States have our faith in our representatives restored, so that we may once again believe that our representatives will work for the people and not their own benefit and profit, the Congressional pension plan must be terminated with all accrued funds in said pension plan to transferred immediately to an appropriate 401K or IRA plan, to be contained in the Congressman's blind trust. The congressional 401K or IRA plan must be equal to and not better than what is available to the ordinary American tax payer. In addition, the Congress will have social security tax withheld from their pay, to be disbursed upon retirement to said representative, to be administered under the same guidelines the American people are subject to. You may wish to fix the social security system, Ms. Pelosi, since this will contribute to yours and your colleague’s retirement.

All Congressional members must purchase their own medical health plans and all Congressional members must work within the framework of said plan. As it is mandated in California; an employer may not have better, but only equal medical insurance coverage to what he offers to his employee. And, so it shall be mandated for Congress. Congressional members may not have better medical coverage than any of their constituents. This keeps things fair for all.

Finally, we the people demand term limits to no more than two terms, just as the president is held to. This will break up the “good old boys club” on Capitol Hill and facilitate the return of Congress back to the American people.

Passage of a bill encompassing these demands is to be mandated on all of Congress with no loopholes. This will be a start in restoring the people’s trust in our representatives again.

We the people reserve the right to alter this legislation with a popular vote and anytime, whenever there is a general election. While ‘mob’ rule is not good for this country as a whole, in the case of controlling Congress, this one exception should be allowed.

Love & Kisses!

Your boss, the pissed off American tax payer