Friday, October 03, 2008

Bailout to Taxpayers: We'll er...give you $110 Billion if you give us $700 Billion Now [YEAH RIGHT]

The initial 3 page document has been increased to 400, and included are tax break sweeteners amounting to around $110 billion. That's a bit like the kindergarten bully saying - give me your icecream now and tomorrow I will give it back to you, and I'll bring chocolate sauce along.

Well what happened to your ice icream?
I ate it. Now I want to eat yours.

The answer is "No."
clipped from news.yahoo.com

The Senate's addition of some $110 billion in tax breaks and other sweeteners helped satisfy some Republican critics, but angered conservative so-called "Blue Dog" Democrats concerned about swelling the deficit. Still, Hoyer predicted the number of Democratic defectors from the measure "is going to be minimal."

Rep. Earl Blumenauer, D-Ore., a liberal opponent, is also reconsidering his vote, a spokeswoman said on Thursday. But Blumenauer wants to see a mechanism to pay for the bailout and more help for homeowners staring at foreclosure.


It extends several tax breaks popular with businesses, which are favorites for most Republicans. It would keep the alternative minimum tax from hitting 20 million middle-income Americans, which appeals to lawmakers in both parties. And it would provide $8 billion in tax relief for those hit by natural disasters in the Midwest, Texas and Louisiana.


Help for rural schools was aimed mainly at lawmakers in the West.

Speaker of the House Speaker Nancy Pelosi speaks to a news conference flanked by (L-R) House Majority Leader Rep. Steny Hoyer (D-MD), House Majority Whip James Clyburn (D-SC), Democratic Caucus Chairman Rahm Emanuel (D-IL), House Financial Services Committee Chairman Barney Frank (D-MA) and Rep. Chris Van Hollen (D-MD) after the compromise financial bailout bill failed to pass during a vote of the House of Representatives on Capitol Hill, September 29, 2008. (Mitch Dumke/Reuters)

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