Arkansas Blog

Oh, boy! More tax cuts. The government is awash with staggering deficits and record National Debt and we are going to keep playing supply side economics. Oh, boy, oh boy.

Will it contain any 'sop' for ACORN or La Raza? How about free mortgages that are financed by folks who don't enter into deals they can't afford? I think that we should just give all 'selected' groups at least a free ride on their home, car, a few credit cards and anything else they feel is owed them by taxpayers who pay their bills.

Wonder what time tomorrow Gramps will call for a postponement of the veep debate??
Any bets?

Ok, out of that entire two page article, this is as close as the article came to explaining the tax cut details:

"The Senate tax bill would cost more than $100 billion and extend and expand many individual and business tax breaks, including tax credits for the production and use of renewable energy sources, like solar energy and wind power. The bill would also extend the business tax credit for research and development, expand the child tax credit, protect millions of families from the alternative minimum tax and provide tax relief to victims of recent floods, tornadoes and severe storms."

Could the press be more vague???

Jazzy, for this VP debate, our national security may be at risk, for sarah will have to leave her CAP watch tower she mans in watching for Russian bombers sneaking over Alaskan skies on their way for a dastardly attack against America. I prefer she maintain her watch shift rather than provide live tv entertainment.

Oh, one other thing. I have uncovered strangelove's true identity. Clicky reveals all.

I'll wait and read the fine print. I don't trust the people who screwed us in the first place and got us into this mess to get us out of it. Besides, barney 'the cupcake' frank doesn't know anything about economics.

Will biden us tell us all about what it was like when FDR was president when the stock market crashed in 1929 and how he talked to the American people over the television?

"Will biden us tell us all about what it was like when FDR was president when the stock market crashed in 1929 and how he talked to the American people over the television?"

Will McCain?

I see strangelove is following the example of stupidity provided by Palin.

This one is for the troll strangehate:

"The first thing I would do is say, 'Let's not call it a bailout. Let's call it a rescue,'" McCain told CNN.

From an Associated Press story:

"The Senate measure will graft the bailout language to a tax bill it approved last week, on a 93-2 vote. It includes: a provision to prevent more than 20 million middle-class taxpayers from feeling the bite of the alternative minimum tax, $8 billion in tax relief for those hit by natural disasters in the Midwest, Texas and Louisiana and some $78 billion in renewable energy incentives and extensions of expiring tax breaks.

In a compromise worked out with Republicans, the bill does not pay for the AMT and disaster provisions but does have revenue offsets for part of the energy and extension measures."

Strange is gonna love that- his Repukicans pals insisted the revenue lost by delaying the Alternative Minimum Tax not be balanced with new revenue or cuts elsewhere, but instead be added to the national debt. That is so typically Repukican!

Right on, Cato....we need that screwy family on the border, not in DC.

I'm with DBI....don't they ever change clothes??? Moosemama and her Mooseheifers look

like they are dressed by the Salvation Army.

This bill really sounds like the one right? Watch the stock market dive if the pass this and then the House pukes all over it.

Well, a bailout is really a sucker's play for the taxpayer. It is nationalizing losses and privatizing gains. I don't believe that the taxpayer should be left with the tab for bad debt. Those who tell you that the taxpayer will make money on this deal are daydreamin.

Whether taxpayers make money on this or breaks even depends upon two things:
Will the new bill restore credit markets, and how long before real estate values
return to 2008 levels? Simple. No one I know of can answer it.

If the libertarian approach is used it will require about 7-10 years to recover from
massive bankruptcies plus public welfare rolls will swell.

Now maybe they have learned not to allow banks/investment houses to use such dangerously
wide margins.

"Will the new bill restore credit markets, and how long before real estate values
return to 2008 levels? Simple. No one I know of can answer it."

Nobody knows. Just like nobody knew WMD's were in Iraq but almost a trillion dollars later we know.

This bill just throws $700 billion borrowed dollars at the wall (street) to see if it will stick.

"If the libertarian approach is used it will require about 7-10 years to recover from
massive bankruptcies plus public welfare rolls will swell."

Nice... You pull that out of your ass?

And could someone please explain why the US is providing 100% of the bailout when foreign investors are going to benefit? It's as if they think only Americans invest in Wall Street.

No matter what you think personally, we already know that Lincoln & Pryor will vote Yea. Their President has asked them to vote for the bailout so if it had a provision for drowning puppies, they'd still vote for it.

I say our nation would be a whole lot better off if we waited for the Democrats to write a bill and submit it. It's not that I think the Democrats are magic or smart, I'd just like to hear ideas from all sides before we set something in stone. I'll never be comfortable with the bad guys writing their ticket out of a horrible disaster of their own making. Just doesn't seem American to me.

This vote is like getting married.....we're going to live with it for a long long time. And I think back to every time Cheney-Bush have been in a big rush....very very bad things came of it. Funny how they were in no hurry to look for bodies floating in the Katrina flood waters. I mean, after all, would you buy a used car from Hitler?

Strangelove, translated:

ACORN = N*gg*r
La Raza = bigotry against other brown people
Barney "the cupcake" Frank = F*g

Who else can you insult today, strangelove? Any more hate and smears you can spread around tonight? Go play little green footballs with people who are like you. You aren't moving anyone off the dot here and I, for one, am SICK of your hate speech.

When I hear tax breaks for the......! First show me proof what the last tax breaks did or did not do. Is this more tax breaks to create American Jobs (at home or abroad?) or is this just a recurring band aide bail out for bad corporate management?

To avoid getting hit by the ATM (Alternative Minimum Tax) only takes a little
attention to management of personal finances not more bridges to nowhere legislation for some to take advantage of then say they didn't -- Like ungoverned mouth Palin!

For those who get a spiritual high spewing hate and dissension take a breather and revisit your spiritual one for obviously you missed the point on how to social react in society. We have enough to deal with and that kind of shit should be shelved for the time being if you really love what America stands for.

re: "I'll never be comfortable with the bad guys writing their ticket out of a horrible disaster of their own making. Just doesn't seem American to me."

Glad to hear you'll be voting for Ralph Nader DBI.

From the article in this morning's DoG - "The senators issued no details of their proposal and none would be available until today."

Don't know about y'all, but I find that disturbing. When they're rushing this through before the people have a chence to look at it and express they're opinions then you know there's got to be something real nasty in there they're trying to sneak past us. Hey, let's all play find the clause that makes Hank Paulson dictator for life.

Call it what you will, but this ain't democracy.

Rep. Brad Sherman on CNBC with Larry Kudlow discusses bailing out foreign investors:

Rep. Brad Sherman, D California:

Larry I am glad you have a few seconds to talk to someone who voted against this bill. I am not changing my mind. I want to thank my colleagues who stood up to the purveyors of panic and voted against a very bad bill and voted with 400 eminent economists including three Nobel laureates who wrote to us and said don't panic, don't act hastily, hold hearings, work carefully. The fact is Larry if you read this bill, even you would have voted against it.

It provides hundreds of billions of dollars of bailouts to foreign investors. It provides no real control of Paulson's power. There is a critique board but not really a board that can step in and change what he does. It's a $700 billion program run by a part-time temporary employee and there is no limit on million dollar a month salaries.

Larry Kudlow:

Let me just ask you one question. I think you are referring to foreign banks headquartered in the United States. I do not see how foreign investors get bailed out.

Rep. Brad Sherman:

Larry you have to read the bill. It's very clear. The Bank of Shanghai can transfer all of its toxic assets to the Bank of Shanghai of Los Angeles which can then sell them the next day to the Treasury. I had a provision to say if it wasn't owned by an American entity even a subsidiary, but at least an entity in the US, the Treasury can't buy it. It was rejected.

The bill is very clear. Assets now held in China and London can be sold to US entities on Monday and then sold to the Treasury on Tuesday. Paulson has made it clear he will recommend a veto of any bill that contained a clear provision that said if Americans did not own the asset on September 20th that it can't be sold to the Treasury.

Do your really, really, truly, truly want to know what it's all about? If so, click for the cartoon of the day.

Eark hit my most important reason not to support the bailout in that it is a US bailout for the world. The decider all over again. Just another one of his grandiose bound to be incomplete and costly plans. If the world is not going to share the costs we must save our on country first. Then if we can.

This bill the Senate is voting on today......where are my tax breaks? I think my 382 dollars in the bank is well protected by the FDIC 100 thousand dollar limit. So...as a Republican might say...what's in it for me? How come they always sweeten the deal with sweetener none of us little folks want or need or benefit from? They could at least throw in a couple of 6-packs for us. Think I'll tune out again....this bail-out is only for the RICH and while I can see RICH from my house......I'm not getting the Palin effect...nope....not a speck of it.