[Homestead] Reading the bailout bill
lurine at softcom.net
Wed Oct 1 23:25:58 EDT 2008
I read the 110 pages put out by the House the other day. Having worked for
attorneys at one time, I can tell you, these guys didn't come up with all
this in a couple of days or even a week. Something is VERY fishy here.
The Senate grew nothing except perhaps some horns cause they are 3/4s
prepared to gore the American public!
----- Original Message -----
From: "Don Bowen" <don.bowen at earthlink.net>
>I refuse to call it a rescue, it is a bailout. I have tried to read it but
> it is filled with obscure references that will take days of searching to
> reconcile. For example there is this:
> "(a) IN GENERAL.-Paragraph (2) of section 4161(b) is amended by
> redesignating subparagraph (B) as sub301 paragraph (C) and by inserting
> after subparagraph (A) the following new subparagraph:"
> What could this be in reference to? Is it some limit to CEO pay? Is it
> some limit to the power of the Secretary of the treasury? The to those
> questions is a resounding NO! It is in reference to the tax code. Is it
> something to do with taxing the ones who profited? Is it a reference to
> helping out homeowners who are taxed on the amount banks reduce the loan?
> Again no! It is:
> ''(B) EXEMPTION FOR CERTAIN WOODEN ARROW SHAFTS.-Subparagraph (A) shall
> apply to any shaft consisting of all natural wood with no laminations or
> artificial means of enhancing the spine of such shaft (whether sold
> separately or incorporated as part of a finished or unfinished product) of
> type used in the manufacture of any arrow which after its assembly-"
> Now we all know why the bailout has to be passed so quickly.
> In reality the bailout was attached to an obscure bill and some previously
> house passed tax bills were added. This to get around the fact that the
> Senate cannot vote on an appropriations bill until it has passed the
> If you want to dig through it here it is.
> Good luck. And remember that while you are struggling though this 451
> monstrosity that it is being voted on tonight by people who have not read
> either. I was against the original bill for may reason but felt that
> something needed to be done. As the week progressed I was still for it
> under the need to do something now and fix it later. This after noon some
> reading has me even more against the bill and now I feel we still need to
> something but this is not it. Maybe the Senate will grow a pair.
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