Let me tell you about my best friend Dan. You see, Dan is a professional poker player. He makes his living off people who arenít as good at poker as he is. 8 years ago Dan graduated from Law School and started practicing family law in San Diego. Less than a year into it, he quit his job because he was making more money playing poker online and at the Indian casinos and card rooms throughout San Diego.
Dan made quite the living playing poker, adding nothing back to the economy or our country. Five years ago, when the housing market was going crazy, Dan bought a second home with barely any money down, a 5 year ARM, and rented it out as an investment property.
Today, things arenít as good for Dan as they were 5 years ago. The Bush Administration has put limits on Poker websites and the schools of fish that once frequented online Poker are no longer there for Dan to make his living off of. Instead, he has to play more live Poker, spending 8-10 hours a day in local card rooms. The problem with the local card rooms however, is that all the realtors, flippers, loan agents, and college kids that once donated their money to Dan on a daily basis, no longer have any cash. Most of the remaining players online and in the San Diego card rooms are professionals. Dan now has to take weekly trips to Las Vegas to hit up the waves of tourists that are dropping off their cash at the tables. Tough timesÖ.
Also, as you would expect, his investment property is now under water and his ARM has just reset. His rent income no longer covers the mortgage and with no equity, refinancing is not an option. Best bet for Dan is to simply walk away at the expense of the his tenant, the bank who owns his loan, and the tax payers who are going to flip the bill to bail out that bank.
Dan is a victim and we need to help him. There are millions of Danís out there. With his income lower than ever, Dan is paying almost no taxes. We need to give him a tax break. He adds nothing to the overall economy, gives nothing back to the country, and makes his money off people with gambling problems, students who strive to be like Dan and blow away their financial aid at the tables.
As a nation, we need to stand behind Dan. We need to get Dan back on his feet. He needs the money of hard-working Americans. We need to spread the wealth back to Dan. We need to forgive him for walking away from his investment property; forgive any pending bankruptcies, and reward him for giving nothing to his country.
Dan, I feel your pain and I want to help. Believe in Change.