I am sure there are many who got the bailout bill sent to you... all 451 pages... and I have been
working on this for at least 3 days... I had to stop as my head was hurting... it really makes me
shake my head.. as there are many pages due to strike outs.. this dang thing wouldn't be so long
if they weren't constantly striking out things they listed.. and correcting.. Why the heck they didn't just change the things they wanted without listing each and every single word, and number, that they were changing.. beats me. Some one must get paid by the words in a document.
So here is a running list of things I found interesting.. Some of them I have made comments next to them... I try to find the humor of this.. which is kind of hard as even when you find some outrageous thing that make you laugh, well it is just sad... Now remember this is all SUPPOSE to be helping bail out Wall Street, banks and mortgage companies. It just goes to show how out of whack and out of touch Washington, D.C. is... And remember... yours and my choice has voted yes on this... One of which who claims he was going to name and claim the people who put pork on bills.. will shall see. As I haven't heard anything from the good Senator and he voted yes, on Wed.
So here you go, scroll down the titles of what is in the middle and end of the this wonderful bill.
Gee, I wish I could remember the After school program where they had how a bill was born...
I gave page numbers incase you want to go read this stuff, as I only give you titles.. and comments
SEC. 308. SPECIAL DEPRECIATION ALLOWANCE FOR CERTAIN REUSE AND RECYCLING
PROPERTY Does this mean I get to be paid for running a dump as long as I recycle?
LIMITATION OF DEDUCTION FOR INCOME AT TRIBUTABLE TO DOMESTIC PRODUCTION OF OIL, GAS, OR PRIMARY PRODUCTS
SEC. 402. ELIMINATION OF THE DIFFERENT TREATMENT OF FOREIGN OIL AND GAS
EXTRACTION INCOME AND FOREIGN OIL RELATED INCOME FOR PURPOSES OF THE
FOREIGN TAX CREDIT.
SEC. 405. INCREASE AND EXTENSION OF OIL SPILL LIABILITY TRUST FUND TAX.
does this mean no more tax break for oil companies after 2009?
I can't take it anymore... find a copy.. and
read page 263, there are tax relief for National Disaster, naming every weather connected
disaster we have had this year..
SEC. 203. DEDUCTION FOR CERTAIN EXPENSES OF ELEMENTARY AND SECONDARY
EXTENSION OF 15-YEAR STRAIGHT-LINE COST RECOVERY FOR QUALIFIED LEASE HOLD IMPROVEMENTS AND QUALIFIED RESTAURANT
15-YEAR STRAIGHT-LINE COST RECOVERY FOR CERTAIN IMPROVEMENTS
TO RETAIL SPACE
OH, GOOD GOD!! But you know.. after reading all of this.. I must might need that Puerto Rico rum...
SEC. 308. INCREASE IN LIMIT ON COVER OVER OF RUM EXCISE TAX TO PUERTO RICO AND
THE VIRGIN ISLANDS
EXTENSION OF ECONOMIC DEVELOPMENT CREDIT FOR AMERICAN SAMOA
EXTENSION OF MINE RESCUE TEAM TRAINING CREDIT
EXTENSION OF ELECTION TO EXPENSE ADVANCED MINE SAFETY EQUIPMENT
DEDUCTION ALLOWABLE WITH RESPECT TO INCOME ATTRIBUTABLE TO DOMESTIC
PRODUCTION ACTIVITIES IN PUERTO RICO
QUALIFIED ZONE ACADEMY BONDS
INDIAN EMPLOYMENT CREDIT
ACCELERATED DEPRECIATION FOR BUSINESS PROPERTY ON INDIAN RESERVATIONS
RAILROAD TRACK MAINTENANCE
SEVEN-YEAR COST RECOVERY PERIOD FOR MOTORSPORTS RACING TRACK FACILITY
(ok, all you people who wanted your own NASCAR track ...here is your chance)
EXTENSION OF WORK OPPORTUNITY TAX CREDIT FOR HURRICANE KATRINA EMPLOYEES
why are they sending down Wall Street employees who are going to lost their jobs?
TAX INCENTIVES FOR INVESTMENT IN THE DISTRICT OF COLUMBIA
what? people invest in an area, because it isn't a state?
ENHANCED CHARITABLE DEDUCTIONS FOR CONTRIBUTIONS OF FOOD INVENTORY
thought we already did have this?
EXTENSION AND MODIFICATION OF DUTY SUSPENSION ON WOOL PRODUCTS; WOOL
RESEARCH FUND; WOOL DUTY REFUNDS. Well the sheep owners will be happy, maybe
it is the lion in sheep clothing on Wall Street?
PERMANENT AUTHORITY FOR DISCLOSURE OF INFORMATION RELATING TO TERRORIST ACTIVITIES Why are they hiding in Wall Street?
PROVISIONS RELATED TO FILM AND TELEVISION PRODUCTIONS (what they don't get
millions anymore from the sponsers?)
EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE
BY CHILDREN. YOU. HAVE. TO. BE. KIDDING. ME
INCOME AVERAGING FOR AMOUNTS RECEIVED IN CONNECTION WITH THE EXXON VALDEZ
LITIGATION (this amounts to how they will be taxed and what they can do with the money.. to
help keep their taxes down.. humm.. and this has to do with Wall Street, how? but it took them
7 pages to tell how to do it.)
CERTAIN FARMING BUSINESS MACHINERY AND EQUIPMENT TREATED AS 5-YEAR PROPERTY
MODIFICATION OF PENALTY ON UNDERSTATEMENT OF TAXPAYER’S LIABILITY BY TAX RETURN
PREPARER (after all this.. you just might need this one)
mid page 310
‘‘Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008’’. (this might apply for us too... after reading this whole 451 pages or even the congress men and women who actually read it and it takes over 30 pages to describe it.)
SECURE RURAL SCHOOLS AND COMMUNITY SELF DETERMINATION PROGRAM now this was quite a read... you would be surprise what they are securing the rural schools from.. everything from weeds to improvement of wildlife and fish habitat; there is over 25 lines of that.. also somewhere there is mention Coos Bay Wagon Road (why do I hear the song Alice's Restaurant in the back of my mind? )
SECURE PAYMENTS FOR STATES CONTAINING FEDERAL LAND (and this has to do with Wall Street and mortgages, how? )
States of California, Louisiana, Oregon, Pennsylvania, South Carolina, South Dakota, Texas, and Washington.
(these are the states listed under the Federal land... now I hate to say this..but Idaho has Federal lands.. why isn't it listed?)
‘‘TITLE II—SPECIAL PROJECTS ON FEDERAL LAND (now they got a little bit of everything in
here, there is the burros, wild horses, fishermen, well, you just name it.. all 27 pages of it...
now that really has me worried how this is interwine with Wall Street and these banks...
‘‘TITLE III—COUNTY FUNDS- now this is a puzzlement as it is a wide open subject. How many counties
are there in the good old USA? but listed among the many lines here is..assistance with implementing, techniques in home siting, home construction, and home landscaping that can increase the protection of people and property from wildfires;
‘‘TITLE IV—MISCELLANEOUS PROVISIONS just incase they might have forgotten something.
SEC. 702. TEMPORARY TAX RELIEF FOR AREAS DAMAGED BY 2008 MIDWESTERN SEVERE
STORMS, TORNADOS, AND FLOODING wasn't this already mention above? yep, must be paid by the word.
Subtitle B—National Disaster Relief and if you didn't understand the top one there.. here is another just incase they didn't get all the correct words in.. after all the other one was only 25 pages so here is 22 more pages..
AND FINALLY bring up the rear.. is the last one... starting on page 442
TITLE VIII—SPENDING REDUCTIONS AND APPROPRIATE REVENUE RAISERS FOR NEW
TAX RELIEF POLICY SEC. 457A. NONQUALIFIED DEFERRED COMPENSATION FROM CERTAIN TAX INDIFFERENT PARTIES.
say what??? nonqualified, indifferent ???
There you have it... now go back and find the ones you really want to read.. find a copy... at least I saved you from reading 451 pages...
Now, here it the deal... you should keep this around..(your copy of the bill) you can use this to go to sleep. Just have your husband read it to you... and you will be out like a light. Also you can use it for your kids when they say, "I am bored.".. you can give it to them and have them read it out loud... 1. you will know where the kids is.. 2. it just might put him to sleep too... 3. if it is a teen, tell them you are going to give a test, so they better pay attention..
Now wasn't that fun... have a good weekend..
"Seens" from Southern California
17 hours ago