EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN


This is a bailout? Horseshit. It's an effing outrage. The title comes from one of the sections, which Krugman documents on his blog, that is a part of the 'tax-relief' in the so-called bailout bill the Senate just passed.

I hope the House savages this thing. I hope they rip it to shreds and piss all over it. Why don't they just take Stirling's plan? It's clean, easy and simple.

Morons. We are truly ruled by morons.

And on that note, I had a conversation with a Thai man yesterday and he said," you're government is worse than mine now!"

Mind you, this is the country whose Supreme Court fired the Prime Minister because he had a cooking show. A cooking show?

How pathetic.


Sean Paul Kelley October 1, 2008 - 10:34pm
( categories: Economics: USA | The Markets )

VOTE ALL,
REPEAT ALL INCUMBENTS OUT.
PERIOD!
THERE ISN'T A LEADER AMONG THEM, AND IF ONE FLOATS TO THE SURFACE, GREAT!
NO, NO, NO! NOT ONE REMAINS!

ChrisH October 1, 2008 - 11:01pm

rejoice, as yet another monstrous transfer-of-wealth scheme is visited upon the public. And, oh, yes, when the House also votes for this POS, there likely will be a rally on Wall Street, maybe another 5-10% up on the S&P500, then the balloon deflates as economic indicators continue to go south without abating.
Anybody looking to make up some lost ground, get ready for some gutsy market-timing sells on the uptick, because this pig is going to pancake.



“les Etats-unis, c’est le seul pays à être passé de la préhistoire à la décadence sans jamais connaitre la civilisation…”...Georges Clemenceau

barrisj redux October 1, 2008 - 11:18pm

the amendments the Senate had attached to their version of the bill.

Her response was unprintable.

The theme song for this meltdown was written nearly ten years ago:

Sleep Now in the Fire



"What we've got here is, failure to communicate"

Rick October 1, 2008 - 11:38pm

I used to tell myself that economics were complex business and that even Congress makes mistakes when they act too hastily. Now I am absolutely certain they know damned well what they're doing, exactly who benefits, and how much it'll cost us poor slobs at the end of the day.

xlorp October 2, 2008 - 12:44am

hey hey, kucinich can stay as far as I'm concerned. And to balance that out, ron paul :D

Pen vs Sword October 2, 2008 - 1:49am

see comments on his role as one who has their trust and therefore obligation to justify

in some of the other comments today in his NYT blog


"The mythical John McCain is an affable, straight-talking, moderately conservative war hero who is an expert on foreign policy" - Bob Herbert

nymole October 2, 2008 - 9:37am

Obama is pulling away from McCain in the polls, but more significantly in the predictive markets. Obama has it locked up unless the GOP can steal the election again.

But his choice to own the bailout will haunt him and the Dems for the rest of his only term as POTUS, and the Dems will likely lose at least one of the chambers in 2010.

The Domecratic Party will also split much more openly into establishment/elite and progressive/populist wings.

tjfxh October 2, 2008 - 1:55pm

from comment #34 of Krugman's blog today:

"I think everyone is missing the significance of the “lard” that got hooked onto this bailout. These tax breaks were part of big $150 billion tax package that the Senate has already passed but that the House has resisted. The disagreement with the House, though, is small. Everyone in Congress wants these tax breaks (except Bernie Sanders, God bless him) — but House Dems think they should pay for somewhat more of the cost than the Senate does.....

Added irony: the sponsor of that silly arrow provision, Ron Wyden, D-Ore., voted against the bill. After making everyone a laughingstock…. ...


"The mythical John McCain is an affable, straight-talking, moderately conservative war hero who is an expert on foreign policy" - Bob Herbert

nymole October 2, 2008 - 9:22am

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