In my last post, I posed the questions: “What exactly is the bailout, in fact bailing out? And Whom is the bail out, bailing out?”
The Taxpayers for Common Sense site has listed some of the Tax Sweeteners that are included in this
2008 Emergency Stabilization Act, and while not all of them are “per se outrageous, collectively they are intended to get this bailout passed:”
- Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children
- Sec. 317. Seven-year cost recovery period for motorsports racing track facility
- Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the
- Virgin Islands
- Sec. 301. Extension and modification of research credit
- Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation
- Sec. 601. Secure rural schools and community self-determination program.
- Sec. 201. Deduction for state and local sales taxes
- Sec 502. Provisions related to film and television productions
- Sec. 325. Extension and modification of duty suspension on wool products; wool
research fund; wool duty refunds
- Sec. 309. Extension of economic development credit for American Samoa
Among some of the other highlights of the bailout:
- Sec. 211. Transportation fringe benefit to bicycle commuters
Is this REALLY what we want to pay for? And do we REALLY think this will stabilize the economy?
Shouldn’t the bailout fix what really ails this economy?? Not those looking for a handout?
For the details behind these tax sweetners:
Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net
Century 21 Commonwealth
BostonKayakGuy…The MetWest Scene
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