Detailing the Wall Street Bailout Christmas tree bill

by John Wake on October 5, 2008

CNET says;

… millions in tax breaks and related pork for kids’ wooden arrows, Puerto Rican rum producers, auto race tracks, and corporations operating in American Samoa.

The New York Post says;

The Congressional Budget Office said the package of breaks - including obvious pork and some more defensible tax-relief measures - will add about $112 billion to budget deficits over the next five years because the bill doesn’t contain enough offsetting revenue hikes to keep the budget balanced.

A hundred billion here, a hundred billion there and pretty soon you’re talking about real money.

{ 1 comment… read it below or add one }

1

Miami Real Estate Attorney 10.07.08 at 8:41 pm

The pork added to the bill is just business as usual for the “representatives” of the people in the legislature. Most are just a bunch of talking heads with no understanding of the finanicial issues or real estate problems. McCain does not even know how many houses he has, much less how the government would “buy up all the bad loans…”

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