Skip to main content

700 Billion Bailout and the Pork that comes with it...which is false ( Archived) (2)

Oct 11, 2008 9:16 AM CST 700 Billion Bailout and the Pork that comes with it...which is false
fireliter
fireliterfireliterAllen Park, Michigan USA635 Threads 17 Polls 7,934 Posts
The $700 billion "bailout" for Wall Street -- officially known as the Emergency Economic Stabilization Act of 2008 -- contains multiple "earmarks", or special funding for various pet projects, that add as much as $100 billion more to the costs.

The first proposal by the Treasury Dept. was 3 pages. The failed House version was 110 pages. The final bill that was passed was over 450 pages.

Some of the earmarks tucked into the bill's pages by both Democrats and Republicans include:

* $2 million tax benefit for manufacturers of toy wooden arrows for children

* $100 million tax break to benefit automotive racetracks

* $192 million in rebates for the Puerto Rican and Virgin Islands rum industry

* $224 million for temporary emergency penthouses for financial company executives

* $148 million in tax relief for U.S. wool fabric producers who use imported yarn

* $49 million tax benefit for fishermen and other plaintiffs who sued over the 1989 tanker Exxon Valdez spill

* $48 million a year for film and TV producers who produce their work in the United States

* $33 million tax credit for select corporations earning income from American Samoa

All of those provisions are true -- except for one. Can you figure out which one is fake?
------ This thread is Archived ------
Oct 11, 2008 9:31 AM CST 700 Billion Bailout and the Pork that comes with it...which is false
RillyNiceGuy
RillyNiceGuyRillyNiceGuySoutheast, Arkansas USA1,208 Threads 1 Polls 18,965 Posts
can I hire 10.000 people for the day and be in danger of going broke and get a bailout and get a 50 million dollar umbrella. Hell it ain't even going to rain today.......grin


Nope! someboby is crapping in the public's mess kit!
------ This thread is Archived ------

This Thread is Archived

This Thread is archived, so you will no longer be able to post to it. Threads get archived automatically when they are older than 3 months.

« Go back to All Threads
Message #318

Stats for this Thread

609 Views
1 Comments
by fireliter (635 Threads)
Created: Oct 2008
Last Viewed: Feb 24
Last Commented: Oct 2008

Share this Thread

We use cookies to ensure that you have the best experience possible on our website. Read Our Privacy Policy Here