Thread: Gee, They're Going to Cut Taxes to Sell Their Bailout Scam

WASHINGTON - In a surprise move to resurrect President Bush's $700 billion Wall Street rescue plan, Senate leaders slated a vote on the measure for Wednesday — but added a tax cut plan already rejected by the House. Majority Leader Harry Reid, D-Nev., and GOP Leader Mitch McConnell of Kentucky unveiled the plan Tuesday.

The Senate plan would also raise federal deposit insurance limits to $250,000 from $100,000, as called for by the two presidential nominees only hours earlier.

Uh-huh.

Where's that money going to come from, Senators?

Hmmm? Don't act like you're giving us something.

The move to add a tax legislation — including a set of popular business tax breaks — risked a backlash from House Democrats insisting they be paid for with tax increases elsewhere.

Yeah, don't even mention the two EVIL WORDS.

But by also adding legislation to prevent more than 20 million middle-class taxpayers from feeling the bite of the alternative minimum tax, the step could build momentum for the Wall Street bailout from House Republicans.

The AMT should be eliminated completely...so how the power to tax is the power to coerce and finally to destroy?

The presidential candidates Sens. John McCain, R-Ariz., and Barack Obama, D-Ill., intend to fly to Washington for the votes, as does Sen. Joe Biden of Delaware, the Democratic vice presidential candidate.

Isn't that sweet? Obie is going to Washington to do his job for a change, he's not just going to tell his secretary to give him a call if something comes up.

The surprise move capped a day in which supporters of the imperiled multibillion-dollar economic rescue fought to bring it back to life, courting reluctant lawmakers with a variety of other sweeteners including the plan to reassure Americans their bank deposits are safe.

I wonder if the dumb Americans will figure out that government backed insurance plans as are safe and healthy for the national economy as government backed mortgages were, before this abortion comes to a vote?

Wall Street, at least, regained hope. The Dow Jones industrials rose 485 points, one day after a record 778-point plunge following rejection in the U.S. House of the plan worked out by congressional leaders and the Bush administration.

And people I know were frantically trying to sell their stocks and glad that the dead cat bounce of today let them recoup just a little more before it starts to sag again tomorrow.

Before Reid and McConnell's move, lawmakers, President Bush and the two rivals to succeed him all rummaged through ideas new and old, desperately seeking to change a dozen House members' votes and pass the $700 billion plan.

Notice: Not one of them mentioned the TWO EVIL WORDS.

The Senate move seems aimed at jamming the House into accepting the deficit-financed tax cuts. Conservative Democrats won't like the idea, but some Congress-watchers suspect most Democrats might be willing to go along.

Sure, why not. ALL Democrat law makers are prostitutes. So are most of the Republicans. Unfortutely, the ones that aren't serve merely to grease the wheels of the runaway train with their soft bodies when they try to get in the way.

Still, the House is where the problems are, and leaders there were scrounging for ideas that might appeal to a few of the 133 Republicans and 95 Democrats who rejected the proposal on Monday.

Gee, is stopping a bad bill a "problem", or a duty? Biased Much, Mr. Media Man?

Senate Banking Committee Chairman Christopher Dodd, D-Conn., told reporters, "I'm told a number of people who voted 'no' yesterday are having serious second thoughts about it." He added, however, "There's no game plan that's been decided."

The idea drawing the biggest support was to raise the federal deposit insurance limit, now $100,000 per account, to $250,000. Several officials, along with both presidential nominees, endorsed the change.

And that will do what, exactly?

Oh, that's right. It will convince the small investors to hang in there and wait, giving the big investors who have their Senators on speed dial more time to dump their stocks.

Not all lessons of 1929 were forgotten, it seems.

Other ideas include extending unemployment insurance benefits, typically a Democratic goal, but one that appeals to some Rust Belt Republicans.

Yeah, giving people a small incentive to not seek work is always an effective way of turning the economy around.

Another Democratic-backed idea would double the property tax deduction taken by people who do not itemize their taxes.

Oh, gee, another bone tossed to the people whose failure to pay their mortgages got us in this mess in the first place.

And another calls for more spending on transportation infrastructure projects, which would create more jobs.

And if we were going to do that, it would be a hundred times smarter to FUCKING DRILL! That creates jobs here, stops the capital flow to terrorists, and pisses of the greenies. An excellent use for my stolen dollars.

Budget hawks in both parties might object, however.

See? No one said the TWO EVIL WORDS

Though stock prices rose, more attention was on credit markets. A key rate that banks charge each other shot higher, further evidence of a tightening of credit availability.

If you're not out of the market, what the hell are you waiting for?

Bush was talking about everyday Americans on Tuesday, not banks or other financial institutions. And no supporters were using the word "bailout."

Right. Because all Americans are stupid and won't see the pig behind all that lipstick.

"The first thing I would do is say, 'Let's not call it a bailout. Let's call it a rescue,'" McCain told CNN. He said, "Americans are frightened right now" and political leaders must give them an immediate solution and a longer-term approach to the problem.

The law makers simply have to stop acting like pigs at the trough and start obeying the friggin' Constitution. That's what Americans want. God only knows what the socialists want.

Obama issued a statement saying that significantly increasing federal deposit insurance would help small businesses and make the U.S. banking system more secure as well as restore public confidence.

Said the man who has Frankie Rains, who allowed Fannie Mae to crash, as his advisor.
There you have it folks. The politicians tried to sell us a handful of magic beans, and it didn't work, and now their trying to sell us a dead cow, two skunks, three hairless cats, and magic beans. You do see the magic beans, don't you? You can't? They must be under the skunks' tails, were no one will look.

The magic beans ward off the TWO EVIL WORDS. Can't have magic beans in any plan that has those TWO EVIL WORDS in it.

CUT.

and

SPENDING!

By the way, this proves one thing conclusively.

Forget about Obama being the agent of change.

No one believed McCain was an agent of change anyway.

NOT ONE PERSON in EITHER PARTY in Washington stated the obvious, that spending needed cutting to fit that 700 billion dollar into the budget.

Not one.

Ain't it time you people realised that Change will come when those two turd parties are flushed and a third party and fourth party is sent to Washington, and those third and fourth parties are both committed to obeying the Constitution?

Hehehehehe. FFA'S getting a tax hike. TFF!:laughing::booty::laughing:

Voting for Bush twice, serves you right. Its coming back at you.

Originally Posted by Freedom for All

NOT ONE PERSON in EITHER PARTY in Washington stated the obvious, that spending needed cutting to fit that 700 billion dollar into the budget.

Not one.

So true, politicians can't possibly announce the "wasteful program death row" list that needs to be created, that will loose them votes.

Originally Posted by Freedom for All

Ain't it time you people realised that Change will come when those two turd parties are flushed and a third party and fourth party is sent to Washington, and those third and fourth parties are both committed to obeying the Constitution?

Flushing the Democratic and Republican parties won't happen, one can dream though. In Turkey they have about 20 Minor parties and like 6 or 7 major parties, and of course just one little parliament. Nobody ever stays in power long enough to finish what they can't even start. Can you imagine Libertarians, Party A, Democrats, and Republicans in our bicameral Congress trying to agree? The more parties you have the more bipartisan they all have to be. Thus far, the folks who wind up in Washington don't play well with others and have trouble sharing.

Unless some other party gains a 60% or greater majority in Congress. And the President is a member.

What ever...... In the end congress will pass some sort of bailout plan. I can't say I like it much, but it's gonna happen.

Maybe, with any luck, housing values will rebound somewhat and the feds will turn a profit. .... but that's alot to ask from a group that can't find their ass with both hands.

Originally Posted by Goldwater

So true, politicians can't possibly announce the "wasteful program death row" list that needs to be created, that will loose them votes.

Flushing the Democratic and Republican parties won't happen, one can dream though. In Turkey they have about 20 Minor parties and like 6 or 7 major parties, and of course just one little parliament. Nobody ever stays in power long enough to finish what they can't even start. Can you imagine Libertarians, Party A, Democrats, and Republicans in our bicameral Congress trying to agree? The more parties you have the more bipartisan they all have to be. Thus far, the folks who wind up in Washington don't play well with others and have trouble sharing.

Unless some other party gains a 60% or greater majority in Congress. And the President is a member.

Goldy, I spent some time in Italy a while back. They have "several" parties and one of the most dysfunctional governments in the EU, no make that the most dysfunctional government in the EU and the lowest standard of living compared to the other countries. That said, I loved it there and just think the world of Italians. But I was young, the US government was providing for my needs. All I had to do was enjoy myself in my off duty time.

For all that you can criticize about our system, other systems haven't proven themselves better.

Originally Posted by 2lane

Voting for Bush twice, serves you right. Its coming back at you.

You have quite the active imagination.

Can you go back to the kindergarten forums where such anal behavior is enjoyed?

Originally Posted by Goldwater

So true, politicians can't possibly announce the "wasteful program death row" list that needs to be created, that will loose them votes.

Flushing the Democratic and Republican parties won't happen, one can dream though. In Turkey they have about 20 Minor parties and like 6 or 7 major parties, and of course just one little parliament. Nobody ever stays in power long enough to finish what they can't even start. Can you imagine Libertarians, Party A, Democrats, and Republicans in our bicameral Congress trying to agree? The more parties you have the more bipartisan they all have to be. Thus far, the folks who wind up in Washington don't play well with others and have trouble sharing.

Unless some other party gains a 60% or greater majority in Congress. And the President is a member.

I merely state what must be done.

I'm certainly far too practical to expect that the one party rule that's constipated Washington ever since Nixon quit is going to change, ever.

Originally Posted by tagurit

What ever...... In the end congress will pass some sort of bailout plan. I can't say I like it much, but it's gonna happen.

Maybe, with any luck, housing values will rebound somewhat and the feds will turn a profit. .... but that's alot to ask from a group that can't find their ass with both hands.

Well, then, seems to me, we oughta be handing it to them, with both of ours!