The Wall Street Bailout Bill is Actually a Huge Pork Sandwich

Much has been said about the Wall Street bailout bill this past week and by people more versed in economics than I. Comments ranging from “Planned Illuminati Implosion” to “The Beginning of the American Police State” have made their way across the InnerTubes like seeds blown from a dandelion. The main idea I take from this however, is that the American taxpayer and the next three generations will be paying for the past eight years of the NWO patsy Bu$hco Criminal Cult and that this will amount to eternal slavery for the sheeple.

Most of my readers will agree with this assessment and then add a few of their own for good measure, so I’m preaching to the choir essentially.

But does anyone know what’s exactly inside of this bill?

According to Yahoo ! News, the “sweeteners” and other additives to this ‘bill’, have little to do with Wall Street:

Wind power developers, disaster victims, college students, teachers and millions of taxpayers and businesses stand to see substantial benefits from the tax relief package that lawmakers added to the huge financial rescue plan.

So will more narrowly focused groups, including motor sports racetrack owners, film producers and bicycle commuters.

Virtually all of the tax breaks already exist. But many of them expired Jan. 1 for use in the current tax year, and the others will expire three months from now unless Congress renews them.

The largest group of beneficiaries in what is now the tax portion of the financial rescue bill is about 20 million mainly upper-middle income taxpayers. Without congressional action, the AMT, with originally was supposed to affect only the very rich, would add some $2,000 this year to the tax bill of people mostly earning under $200,000 a year.

Thousands of businesses are waiting for renewal of the research-and-development tax credit, which expired at the end of last year. Without that credit, industry advocates say, high tech, biotech and aerospace companies would have trouble hiring the highly skilled workers needed to compete with foreign competitors.

The Information Technology Association of America reports an $18.5 billion drop in R&D activity since the beginning of the year when the credit lapsed. The R&D credit extension would cost $19 billion over 10 years. The cost of the entire tax portion of the bill is close to $110 billion.

The renewable energy incentives include an eight-year extension of investment credits for solar energy, as well as breaks for wind, geothermal and other alternative sources. The solar industry says extension of the credits through 2016 would produce an extra 440,000 jobs and more than $230 billion in investments.

The measure also has $8 billion in tax breaks for disaster victims, $5 billion for higher education tuition deductions and $400 million in deductions for teachers who buy school supplies with their own money.

There are $3 billion in deductions for residents of states without income taxes that have state and local sales taxes. Extending the deduction would save Texans a projected $1.2 billion a year or an average of $520 per filer claiming the deduction, said Matt Mackowiak, spokesman for Sen. Kay Bailey Hutchison, R-Texas.

Of course representatives from Texas like the pork additives, they have been the biggest recipients of Federal largess over the past eight years, receiving $1.87 per dollar of tax they pay to the Empire. So what’s a little more?

Now, I’m not against hurricane victims finally getting paid for what’s been due them for over three years here ( I’m assuming Katrina and recent victims ), but I do have issue with NASCAR venues getting another year of tax breaks amounting to eight years total. That’s a three billion dollar a year entertainment industry, WTF!

In short, this bill probably won’t help the economy out in the end anyway, pundits already claim the US Empire is in recession and that this bailout will just make it drag out more, turning it into a real Depression. And truth be told, nobody has a clue how all this is going to pan out, the talking bobble-heads are as clueless as anyone else!

It’s gonna be a tough winter, I’m sure I could eat a huge pork sandwich during that time!

Tax breaks big and small sweeten financial bailout

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14 responses

  1. Man are you right! A normally fair news source has defected though. I’m normall a big FOX news fan but they’re pulling an MSNBC. ****** There is no guarantee or provision in the bailout to force the firms to use the funds they receive to extend credit to the US economy! ****** Fox News won’t cover this subject. Ask them why at: yourcomments@foxnews.com We have to defeat this disastrous legislation. Check my site SandySays1.wordpress.com
    for some tools to fight it.

  2. Thanks for stopping by Sandy, and you’ve just taken the first step in realizing the corpo-media just spreads government propaganda, all of them, especially FOX.

    And no, there is no oversight whatsoever in this bill, the Fed and the banksters made sure of that!

    The ponzi-schemers are going to drain the corpse dry before they leave the rest to the buzzards to fight over the bones and scrap!

  3. […] Originally posted here: The Wall Street Bailout Bill is Actually a Huge Pork Sandwich […]

  4. Reminds me of a friend from the old days named Weird Harold, a large biker dude that frequented the Tap Room,a local watering hole for bottom feeders. The waitress had just brought me a pitcher of Bud,when he walked in the door, picked up my pitcher, and drank it down like a cup full,and needless to mention I didn’t say a word. He wasn’t like a Neocon though, and he later sent a pitcher over and apologized for tapping me.

    These bastich’s will disappear our $$$ and promptly ask for some more. It’s like throwing jet fuel on a camp fire, without any weenies…G:

  5. Hi dad2059 et al. …

    The mere fact that millions of citizens can call in to their Congressional reps, demand an over-whelming “NO” vote to this evil bill and still have these elitist traitors do their corporatist masters’ bidding; should tell us who our betters are…no?!

    Our system of government is broken along with being broken financially. It’s time for change; ie., a massive change. Our form of government has failed us. It worked well when the country was much smaller prior to the 20th century, but it’s far too dangerous to have pols entrenched in office for longer than four years. The presidential term should be a “single” four year term, same with the senate and the house limited to a two year term. No one should be going up for reelection. Lobbying needs to outlawed at least any lobbying that’s linked with political contributions of any kind…period!

    Allowing anyone more than a single term in DC automatically encourages them to be corrupt due to the lobbyist effect. It would also save an enormous amount of money concerning reelection campaigns and the horrible nuisance of having to listen to these lying presidential and Congressional aspirants as we have for the past 1.5 years…ugh! A political campaign should be limited to three months prior to the election and that’s it!

    I just started my blog on Capitol Hill Blue. My most recent four postings were concerned with this criminal debacle of the past week.

    http://www.capitolhillblue.com/cont/blog/73

    CHB is a great forum hosted by Doug Thompson and I encourage others to join the site. The site just celebrated its 14th birthday and according to Doug Thompson is the longest lived political site on the www.

    Carl Nemo **==

  6. Hi dad2059…

    I just tried to post, but Aski the dog ate his favorite “pink” meat; ie., SPAM…:))

    Nemo **==

  7. The old jarhead is right, and this is just another opportunity for the criminal-elite to consolidate their economic stranglehold by throwing more bad money after bad. The system has to collapse, eventually, being propped up by nothing.

    It’s not like we’re not already slaves, though. We live, breathe, and trade bogus, and participate in meaningless elections, continually telling ourselves that we have some say and purpose in life. Taking up where the Geez left off, it’s merely and has always been a matter of the town bully being stood up to. The masses generate apathy and fear among themselves, and it cripples them to the fact that they only have to grab the emperor by his balls, and twist! We outnumber the crooks a million to one… what else do you need?

    Backbones… that’s all… and open minds.

  8. I released you from Aski once again Nemo and left you a comment on your blog. 😉

  9. I like it Highway,now how are we going to decide who gets to grab first?
    Nothing would please me more, but I guess I best leave it up to you Jarheads. A word of advice on this is, don’t forget your tweezers, and wear all of the foil you can get your hands on… 😆

  10. Hi dad2059…

    Thanks for the post to my blog. You should have tooted your horn and left your site link too. Kay in Maine does it all the time. She makes a comment to CHB and posts her blog link. It’s still open for editing; ie., your comment so you may care to go back and post your link following your comments.

    Most folks on CHB need a diversion from politics. Too much political discussion makes for a dull person …no?!

    Carl Nemo **==

  11. Well, I’d never be accused of too much political discussion, Carl, because I think the whole thing is a gargantuan waste of time, outside of the most minuscule municipal applications. But, the masses see some relevance in it all, so you hafta go (somewhat) with the flow.

    Geez, we’re already bucking the system. We don’t have to take up arms and start shooting politicians, as pleasant a thought that may be, just continue to harangue and bother the sheeple, who really don’t want to be reminded of things that they’d sooner forget. You and S-Q have gotten some high-level feedback, already, whereas I am mainly thought of as a crank. My purpose is to inspire doubt in a dubious system, and it doesn’t require that I receive any glory, and I don’t want it, anyway.

    I’m a foiler, through and through, and I’ll never change. I may be run out of town, some day, for my convictions, or kicked off the tubes, but they’ll have to lock me away or shoot me before I’ll accept their menagerie of a social construct!

    It’s like the old joke where the various body parts were argueing over who had the most important job, and the asshole won out. All you need to be to survive in the NWO is be an asshole!

    😉

  12. I hear ya dad… : )

    In the end times…assholes reign! : (

    Nemo **==

  13. I meant to say I hear ya Highwayman and possibly dad concurs too?

    Btw HW, I “always” enjoy your site post content! : )

    Nemo **==

  14. Unfortunately I have to agree with you guys.

    I have to add however that “in the land of the blind, the one-eyed man is king.”

    😉

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