02 October 2008

Strange Things in the Senate Bailout Bill

Looks like the Bailout Bill just passed the Senate, and no doubt Sen Reid is going to be issuing a press release about how he single-handedly saved Christmas. However, since bailing out a bunch of suits on Wall Street might strike some voters as "unfair", the crafty Senate decided to load up the bill with a mixed array of tax breaks to push it through the house. Check out some of the turds that are going to get flushed down the pipe to the rest of us. The Hill has this behemoth of PDF, and here's a small smattering of who's getting hooked up:

Sec 308 (Fewer Taxes on Rum from Puerto Rico and Virgin Islands)

Sec 310 (Mine Rescue Teams Tax Credits)

Sec 317 (Motorsports Racing Track Facility Tax Credits)

Sec 325 (Wool Research Fund Extension )

Sec 401 (Permanent Authority for Undercover IRS operations)

So if you are a pirate, minesweeper, NASCAR track owner, shepherd, or government spook spying on our own citizens, congrats....you won! For all you other losers, I suggest you hire a more powerful lobbying firm next time around.