For days on end congress managed to keep Americans on the edge of their seat with the impending doom that pressed in from every angle... would the bail out come in time or would all the world FADE TO BLACK? Well the bill passed and it includes some ground breaking legislation to make sure that hollywood and such vital industries as wooden arrow manufacturing, are spared the burden of excessive taxation!
Bail Out is Business As Usual
Well it's official they got us AGAIN. The bail out bill H.R. 1424 the one that we just had to get done OR ELSE, it has passed the house and now we can all take a nice deep breath... whew we dodged the bullet... ? We may have dodged a bullet but those wooden arrows caught us right dead between the eyes! It is impossible, apparently, to carry a bill or motion of any sort through the senate chambers or the house of representatives without all sorts of junk getting stuck to it. HR 1424 has plenty of junk stuck to it and here are two pieces that should enrage you as they did me. I am not an attorney, though I have twice defended myself against corrupt credit card companies in court and walked away unscathed and with all of my monies intact; this aside, I think we can all understand this nonsense very easily. Read on!
HR 1424 Title V, Sec 503
Exempts from the excise tax on bows and arrows certain shafts consisting of all natural wood that, after assembly, measure 5/16 of an inch or less in diameter and that are not suitable for use with bows that would otherwise be subject to such tax (having a peak draw weight of 30 pounds or more).
HR1424 Title V, Sec 502
Amends Internal Revenue Code provisions relating to the tax deduction for domestic film and television productions to: (1) include within the income base for such deduction compensation for services performed in the United States by actors, production personnel, directors, and producers and any copyrights, trademarks, or other intangibles with respect to a film production; and (2) allow a deduction for partners or S corporation shareholders who own at least a 20% interest in a film project.
And BANG! just like that America congress puts another over on us. These are our elected representatives folks, the people paid (and paid VERY well I may add, especially for a job that requires no formal training nor education) to do our will and be our voice and oh how they have fallen, and oh, how they have failed. These two tax breaks are not the only tax breaks included in this junk laden bill, but they are the two that jabbed me right in the eye as being a blatent F@#K YOU! Sarah Palin wants us to go back to being as a city on a hill as described by the glowing words of an the racist preacher John Winthrop (I don't and won't even get into that one right now)... Well we may not be the city on a hill but we are the people at the bottom of capital hill and she should come down here and see what keeps right on rolling down it.