Posted on 10/01/2008 12:44:17 PM PDT by frogjerk
What does this have to do with the Financial Crisis at hand
Thanks... I didn’t think about the incentive to draw in the House.
The more I read of this thing, the worse it gets.
It even includes a pretty substantial federal land grab and
bailout of states and municipalities that made bad investments.
http://www2.nationalreview.com/dest/2008/10/01/senaterescue.pdf
These specific tax tax cuts are being used to purchase specific political support for the original bill. In other words, Politician John Smith will vote for the bill if you give his big constituent business a tax break. The business in turn will give his politician campaign support. So the tax break is actually allowing the politician to write himself a campaign check. So in order to pass a bill that increases the national public debt to bail out some failed financial transactions, (both foreign and domestic), the best government that money can buy apparently wants more assurances. In simpler terms, the politicians know they are doing something not popular in their specific districts, so they want more campaign cash to over power their unpopular stance. And that in a nut shell is how we ended up with a debt level of 10 Trillion.
I agree
Well at this point, I think McCain should make this bill the poster child for the Line Item Veto!!!
No, its not a tax cut.
The excise tax is collected by Treasury, who turns 100% over to US FWS, who deducts an administrative fee(5%), and is then granted back to the states to enhance hunting. For all practical purposes it a user fee that hunters are pleased to pay.
The money never entered the treasury or general fund.
In addition to Pittman Robertson excise tax on hunting, there is also Dingell Johnson excise tax on fishing equip and supplies that works the same way. Also another on outboard motor boat fuel and another on large watercraft fuel.
Mis-application of the excise tax happens fairly frequently and has to be "fixed" by Congress
That’s interesting, thanks.
The wooden arrow inclusion is quite appropriate here ... after all, we are getting the shaft!
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