Soon To Be Classics

Saturday, October 04, 2008

Pork, Anyone?

For all of us homeowners who are being raped by the terrible housing market, we'd just like to extend our heartfelt thanks to Congress for passing this marvelous bailout bill which will make everything better, save us from ourselves, and cause choco-mint cookies to fall from the sky like rain.

Now wake up.

Of course, anyone who knows me knows that I sit on one particular side of this fence. In this case though, I throw condemnation to every f'ing Congressman and Congresswoman that used this crisis to add their own "pork" to this bill. The original bailout bill proposed by the Republicans was four pages. The final bill just signed is now over 400. And guess what, very little of this bill now has anything to do with housing, bank bailouts or the mortgage crisis.

Among other things, it includes legislation and/or tax breaks for companies that build race tracks, produce kids wooden arrows ($6 million), Puerto Rican rum producers ($192 million), television producers ($10 million) and American companies operating in Samoa. (Note that on the last one, a major employer in Nancy Pelosi's district is Starkist, who operates a major canning operation in Samoa. I'm sure it's coincidence.)

The bill also contains buried language that allows the IRS to conduct clandestine spying operations on American taxpayers they suspect of cheating on their taxes. The privacy implications have yet to really be realized. Top loading domestic washing machines have also been targeted by this. (Well, it's about time someone did something about those damn things!)

Another interesting note buried in this bill is that credit card companies in 2011 will be forced to send the IRS transaction records so they can search for untaxed transactions. This could open the door to the IRS finally getting their mitts on billions of dollars of currently untaxed Internet transactions going as low as ebay sellers.

There's more. A lot more. 442 pages of more.

Why do politicians (Republicans and Democrats, sorry) do this? When a bill is going through Congress that is of critical importance and likely to pass, it's the best time for them to add a page or twenty for their particular districts and special interest groups. And yes, both sides have special interest groups.

So, $700 Billion in tax dollars later (which a Congressional Watchdog Group says could balloon to over $112 billion when all is said and done), here we are. With a ton of useless legislation, more waste of our money, and these hypocritical politicians pointing to the greed of banks, Wall Street and even us lowly tax payers.
I'm hoping that we get a chance to see the sponsor of every piece of this bill. They should be held up and ridiculed.

The next post will be about puppies. I promise. Unless they were outlawed by this bill, too.


  • The economy, housing market, and Wall Street are fucked with or without this bailout. The dow will drop to 8500 or so (if not lower) before it starts its way on long term recovery.

    There are real problems and real fraud neither of which are solved with this. Your house isn't going to sell any faster. But you (and your wife and both kids) just spent about $2300 each. All of that to bail out Wall Street. The bill was an awful idea and it still is.

    By Blogger TMac, at 1:07 PM  

  • Oh, don't get me wrong. I don't think this bill will do anything to help us average citizens. Very little of what Washington does is for us.

    By Blogger Mkae, at 4:50 PM  

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