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 Posted: Sat Oct 04, 2008 11:12 pm
I am just so unbelievably pissed about this. Yes, I know, our government sells us out every day, but this is a new low: (From an article I co-wrote on Wikinews) Quote: Earmarks added into the bailout bill included $192 million in tax rebates for the Virgin Islands rum industry, $148 million in tax cuts for the wool industry, $100 million tax cuts to the auto racing industry, and $48 million in Hollywood tax incentives. Vice President of Taxpayers for Common Sense, Steve Ellis, offered his explanation for the pork and earmarks added in. "People who support some of these provisions will forget about the $700 billion and concerns they may have on that, and say, 'If you give me a few million in tax breaks for my constituents, I'll go along'". The tactic seems to have worked, however, managing to flip enough votes to pass the bill.
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Posted: Mon Oct 06, 2008 2:38 pm
I'm sorry but I don't understand anything of that.
Earmarks?
Rum industry?
A whole lot of money, disappearing where?
Auto racing industry?
Vice President of Taxpayers of Common Sense?
Pork? and Earmarks again?... What the hell...
someone, please, explain what the fack is going on here.
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Posted: Mon Oct 06, 2008 4:30 pm
Sorry, lol, let me explain it:
The bailout bill was supposed to allow the government to spend $700billion "rescuing" (ie giving handouts) to "needed companies" (ie fat cats). They couldn't get it passed so they slipped in bribes, basically, for a lot of the congressmen who didn't want to vote for the bailout bill, basically helping them out by "rescuing" "needed" industries like...rum...wooden arrows...and racetracks...
Long story short, the bailout bill is now at least $1 trillion thanks to bribes hidden in it.
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Posted: Mon Oct 06, 2008 5:19 pm
I have a simple solution: nationalize all large corporations that are essential to the stability of our national economy. Remove the profit-taking middlemen, and instead their surplus value (which would otherwise be "profit") would be used as a method of public finance.
In the case of entities such as Freddie Mac and Fannie Mae, they should be operated as public services, because the profit-maximizing business model for running such an institution has proven to be disastrous. They don't even have to be funded with taxes to operate; there are historical examples of American socialist means of operating services, such as having a government bank lend money and use the interest to fund operations.
And instead of bailing out the corporate executives who made bad market decisions, provide a tax break to those effected most - the lower and middle classes and homeowners.
But of course, such will not happen because Americans are attached to the ideology of economic liberalism ... enshrining big business and worshiping the infallible market.
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