RonPaulCentral
09-28-2008, 08:19 PM
I am surprised I have not seen anybody put this idea forward.... so I will be happy to do so.
If what I think will happen actually comes to pass it could be HORRIBLE for the American People.
Think about this:
We know that if this BS bailout package passes Monday the govt is going to be the "owner" of a lot of bad housing debt. I am almost 100% positive they are going to end up holding credit card debt, auto loans and numerous other instruments.
Now normally if you get an account and default on it the Credit issuer (Ie: Credit Card company, bank etc) will attempt to collect it. After a while they will turn it over to a private collection agency. Depending on if the defaulted balance it is large enough the credit issuer might actually file a civil suit to get a judgment. Once they have that judgment they have to enforce the judgment... etc etc.
Now I would almost GUARANTEE the giant Seagull (Our countries National symbol is no longer represented by an Eagle - It has been replaced by the master scavenger bird - always circling looking to swoop in and steal from you) will do is start using the IRS as its collection arm to collect on the bad debt it now will own.
This would mean bank account seizures, tax refunds being "credited" to your debt, liens and everything else the giant seagull's "collection agency" typically does to collect taxes.
I GUARANTEE YOU this will add to reasons for them to keep and ENLARGE one of the most evil divisions of our government.
THE FUTURE:
"Hi Mr. Sorerectum, this is John Robberbaron calling from the IRS. We are calling about your bad credit card debt from 5 years ago with Chase Visa. As you are aware your normal State Statutes of Limitations do not apply to us in regard to how long we can take to collect old debt. Since we now hold your Visa debt that you defaulted on from 2004 you owe us money. We expect payment in full now or we will start collecting from your paycheck, banks accounts, tax refunds, place liens on your property or whatever other methods we may choose to use. In the event that you do not help us clear your debt we may also pass this civil debt to our criminal investigation unit for possible prosecution. Now, how will we be clearing up this old debt today Mr. Sorerectum?"
Can you imagine... I can. If the government has a way to "screw the people" they will use it. I imagine it is only a matter of time until one of the congresscritter criminals dreams this up.
Comments?
If what I think will happen actually comes to pass it could be HORRIBLE for the American People.
Think about this:
We know that if this BS bailout package passes Monday the govt is going to be the "owner" of a lot of bad housing debt. I am almost 100% positive they are going to end up holding credit card debt, auto loans and numerous other instruments.
Now normally if you get an account and default on it the Credit issuer (Ie: Credit Card company, bank etc) will attempt to collect it. After a while they will turn it over to a private collection agency. Depending on if the defaulted balance it is large enough the credit issuer might actually file a civil suit to get a judgment. Once they have that judgment they have to enforce the judgment... etc etc.
Now I would almost GUARANTEE the giant Seagull (Our countries National symbol is no longer represented by an Eagle - It has been replaced by the master scavenger bird - always circling looking to swoop in and steal from you) will do is start using the IRS as its collection arm to collect on the bad debt it now will own.
This would mean bank account seizures, tax refunds being "credited" to your debt, liens and everything else the giant seagull's "collection agency" typically does to collect taxes.
I GUARANTEE YOU this will add to reasons for them to keep and ENLARGE one of the most evil divisions of our government.
THE FUTURE:
"Hi Mr. Sorerectum, this is John Robberbaron calling from the IRS. We are calling about your bad credit card debt from 5 years ago with Chase Visa. As you are aware your normal State Statutes of Limitations do not apply to us in regard to how long we can take to collect old debt. Since we now hold your Visa debt that you defaulted on from 2004 you owe us money. We expect payment in full now or we will start collecting from your paycheck, banks accounts, tax refunds, place liens on your property or whatever other methods we may choose to use. In the event that you do not help us clear your debt we may also pass this civil debt to our criminal investigation unit for possible prosecution. Now, how will we be clearing up this old debt today Mr. Sorerectum?"
Can you imagine... I can. If the government has a way to "screw the people" they will use it. I imagine it is only a matter of time until one of the congresscritter criminals dreams this up.
Comments?