All Posts Tagged With: "crisis"

I’m not usually one to go on rant about politics, economics or a host of other such matters that I don’t mind saying I’m pretty freaking stupid about. Yet, this whole business with the bailout bill has my blood boiling so for the second time in less than 24 hours I’m going to stick my toe in those waters. This plan is stupid, just plain stupid and before anyone starts whining about what’s been happening recently I work for the most recent casualty so I understand what’s going on. Even if the bailout plan would have prevented what happened on Monday morning I’d still be against it. Why? Because it’s got little to do with fixing the freaking problem. It’s stuffed to the gills with $1.7 billion dollars worth of tax breaks to entities you’ve never heard of. Check this out.

The bill (that is probably going to pass the House vote) contains:

• $6 million in tax breaks for manufacturers of kids wooden arrows. (What in holy hell does wooden arrows have to do with the current financial crisis?)
• $192 million in tax breaks for Puerto Rican and Virgin Island rum producers. (don’t get me wrong, they make some pretty darn good rum, but seriously, WTF does rum have to do with fixing the current crisis?)
• Tax breaks for wool research. (They’re kidding right?)
• $128 million in tax breaks for auto-racing tracks. (Since when did Bruton Smith become part of the legislature? Look, I’m a huge NASCAR/INDYCAR fan, but I know for a fact the racetracks don’t need any help. Particularly the one here in Charlotte)
• $33 milion for corporations operating in American Samoa. (I’ve no clue what this is, but again I’ll ask, what’s it got to do with fixing the current crisis?)
• $10 million for small to medium budget film and television producers. (What kind of crazy assed insanity is this? Medium budget television producers. You tried watching a show on Sci-Fi lately, it ain’t nothing but commercials.)
• $223 million (for Rep. Don Young of Alaska) for fishermen and others who’s livelihoods suffered as a result of the 1989 Exxon Valdez oil spill. (I have sympathy for anyone affected by that, but explain to me how this helps in any way, shape or form fix the current problem?)

I’m going to stop there because it’s just pissing me off. Someone, anyone, please explain how any of this garbage fixes the problem. How does increasing the budget deficits by another $112 billion over five years with no offsetting and balancing revenue not only not make any sense, but how does it remotely apply to the current financial situations.

Sadly though, the bail out bill of bribes will most likely pass and that $700 billion dollars will swell upwards into the trillions before it’s over. Sure, something needs to be done to help the markets correct but THIS AIN’T IT and anyone that votes for it should be voted out of office because it’s just plain stupid.

Oh, and who here think our illustrious leader will veto the bill? Nope! Not gonna happen.

via: NYPost