Bailout turns into Christmas Tree

[Big War Bird]

Sec. 101. Extension of alternative minimum tax relief for nonrefundable personal credits.
Sec. 102. Extension of increased alternative minimum tax exemption amount.
Sec. 103. Increase of AMT refundable credit amount for individuals with longterm unused credits for prior year minimum tax liability, etc.
Sec. 201. Deduction for State and local sales taxes.
Sec. 202. Deduction of qualified tuition and related expenses.
Sec. 203. Deduction for certain expenses of elementary and secondary school teachers.
Sec. 204. Additional standard deduction for real property taxes for nonitemizers.
Sec. 205. Tax-free distributions from individual retirement plans for charitable purposes.
Sec. 206. Treatment of certain dividends of regulated investment companies.
Sec. 207. Stock in RIC for purposes of determining estates of nonresidents not citizens.
Sec. 208. Qualified investment entities.
Sec. 301. Extension and modification of research credit.
Sec. 302. New markets tax credit.
Sec. 303. Subpart F exception for active financing income.
Sec. 304. Extension of look-thru rule for related controlled foreign corporations.
Sec. 305. Extension of 15-year straight-line cost recovery for qualified leasehold improvements and qualified restaurant improvements; 15-year straight-line cost recovery for certain improvements to retail space.
Sec. 306. Modification of tax treatment of certain payments to controlling exempt organizations.
Sec. 307. Basis adjustment to stock of S corporations making charitable contributions of property.
Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands.
Sec. 309. Extension of economic development credit for American Samoa.
Sec. 310. Extension of mine rescue team training credit.
Sec. 311. Extension of election to expense advanced mine safety equipment.
Sec. 312. Deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.
Sec. 313. Qualified zone academy bonds.
Sec. 314. Indian employment credit.
Sec. 315. Accelerated depreciation for business property on Indian reservations.
Sec. 316. Railroad track maintenance.
Sec. 317. Seven-year cost recovery period for motorsports racing track facility.
Sec. 318. Expensing of environmental remediation costs.
Sec. 319. Extension of work opportunity tax credit for Hurricane Katrina employees.
Sec. 320. Extension of increased rehabilitation credit for structures in the Gulf Opportunity Zone.
Sec. 321. Enhanced deduction for qualified computer contributions.
Sec. 322. Tax incentives for investment in the District of Columbia.
Sec. 323. Enhanced charitable deductions for contributions of food inventory.
Sec. 324. Extension of enhanced charitable deduction for contributions of book inventory.
Sec. 325. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds.
Sec. 401. Permanent authority for undercover operations.
Sec. 402. Permanent authority for disclosure of information relating to terrorist activities.
Sec. 501. $8,500 income threshold used to calculate refundable portion of child tax credit.
Sec. 502. Provisions related to film and television productions.
Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children.
Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation.
Sec. 505. Certain farming business machinery and equipment treated as 5-year property.
Sec. 506. Modification of penalty on understatement of taxpayer's liability by tax return preparer.
Sec. 512. Mental health parity.
Sec. 601. Secure rural schools and community self-determination program.
Sec. 602. Transfer to abandoned mine reclamation fund.
Sec. 702. Temporary tax relief for areas damaged by 2008 Midwestern severe storms, tornados, and flooding.
Sec. 703. Reporting requirements relating to disaster relief contributions.
Sec. 704. Temporary tax-exempt bond financing and low-income housing tax relief for areas damaged by Hurricane Ike.
Sec. 706. Losses attributable to federally declared disasters.
Sec. 707. Expensing of Qualified Disaster Expenses.
Sec. 708. Net operating losses attributable to federally declared disasters.
Sec. 709. Waiver of certain mortgage revenue bond requirements following federally declared disasters.
Sec. 710. Special depreciation allowance for qualified disaster property.
Sec. 711. Increased expensing for qualified disaster assistance property.
Sec. 712. Coordination with Heartland disaster relief.
Sec. 801. Nonqualified deferred compensation from certain tax indifferent parties.

God this is disgusting. You can read this 451 page travesty here.

Section 117 orders the National Academy of Sciences to do a carbon audit of the tax code :hmmm:

Section 512 will drastically increase the cost of health insurance, making insurance too expensive for millions more people and giving politicians a greater excuse to seize and destroy our health care industry.

[removeduser_487563287433]

You ed up the economy of the world. At least there's some ing attempt for you to fix it.

[The King Of Peasants]

That is retarded seriously I kind of hope the congress kills the next bill as well just so this travesty as you so aptly named it gets put down!

[removeduser_487563287433]

That is retarded seriously I kind of hope the congress kills the next bill as well just so this travesty as you so aptly named it gets put down!

And after that, when the stock market plunges *again* in response, more banks goes under and your tax dollars go on bailing out banks to save the saving accounts of the nation, you're going to think "thank God Congress did nothing?"

[WrathofTulkas]

Actually both parties are to blame.
If you say Bush Adminstration - Deregulation like some drone... haha you are as dumb as Bidden
I admit Im no economist but to say its one person is just silly.

Corruption and Greed are the roots of the problem - not policital ideology and philosophy.

[JP226]

God this is disgusting. You can read this 451 page travesty here.

Section 117 orders the National Academy of Sciences to do a carbon audit of the tax code

Section 512 will drastically increase the cost of health insurance, making insurance too expensive for millions more people and giving politicians a greater excuse to seize and destroy our health care industry.

the more and more you look at it, the more and more you realize this is a bad idea.

And after that, when the stock market plunges *again* in response, more banks goes under and your tax dollars go on bailing out banks to save the saving accounts of the nation, you're going to think "thank God Congress did nothing?"

ferrets, you don't have a clue as to why the stock market is behaving like it is nor the judgement to determine whether or not this is a good thing.

[Sher Khan]

the more and more you look at it, the more and more you realize this is a bad idea.



ferrets, you don't have a clue as to why the stock market is behaving like it is nor the judgement to determine whether or not this is a good thing.

On the issue of the market, ferrets is right.

The stock market won't take the news well. Well, that's my prediction at least. I'll just buy both call and put options and wait for the moment when the bill passes or fails.

[removeduser_487563287433]

ferrets, you don't have a clue as to why the stock market is behaving like it is nor the judgement to determine whether or not this is a good thing.

Yeah JP I agree it was totally coincidence the stock market plummeted after congress rejected the plan.

How despicable. All that crappy pork--as if a $700 billion bailout weren't bad enough. And to think--some of OUR tax money is going to ACORN, that despicable organization of so-called "community organizers"?

John McCain is absolutely right--we need to get a handle on pork barrel spending. And we won't accomplish that by electing Obama--who has requested hundreds of millions of dollars in pork.

McCain supports the plan. If you weren't so partisan maybe you would make fewer stupid posts.

[Erik]

I noticed a lot of tax deductions/reductions, and extra expenses as well.
So how are they planning to PAY for this bailout, again?

[Viking Prince]

I noticed a lot of tax deductions/reductions, and extra expenses as well.
So how are they planning to PAY for this bailout, again?

sorry -- your post did not come through clearly. It looks like you used words such as plan and pay. These have no meaning in any serious legislation.

[Thanatos]

This is disgusting. I hope this fails to pass.

[Thanatos]

It just passed in the House, check out my thread:

http://www.twcenter.net/forums/showthread.php?t=196528

[Big War Bird]

Compromise:
a: settlement of differences by arbitration or by consent reached by mutual concessions
b: something intermediate between or blending qualities of two different things

Our dear leaders have mangled the spirit compromise. They don't compromise on issues anymore, they buy off dissent.

[Georgy Zhukov]

Mommy says every time a bell rings, a collapsing markets gets 700 billion dollars!

Merry Christmas everybody!

[bigfootedfred]

Id say its not about bailing out the boat thats filling with water.

its more like this.


the guy jumping out is the rich corporate head.

everyone else in america who isnt already rich, is still in the plane and cant get out.
The people on the ground are everyone else in the world, as plane america smashes into us.

[JP226]

On the issue of the market, ferrets is right.

depends how much you believe in the effects of market optimism vs merit. Either way i'd tend to bet he's not arguing from that persepctive. The answer was spoon fed to him somewhere and he ran with it.

The stock market won't take the news well. Well, that's my prediction at least. I'll just buy both call and put options and wait for the moment when the bill passes or fails.

On a side note of curiosity, why are you dealing with options?

[Sher Khan]

To make money, in the end.

[Viking Prince]

To make money, in the end.

You are aware that you can have a good string of successes and still get wiped on one bad trade?

Also, does not sound like diversified risk taking unless it is a very small portion of the portfolio.

Seems a bit like what got the bankers in trouble in the first place. Of course, they were using other peoples' money.

[Sher Khan]

You are aware that you can have a good string of successes and still get wiped on one bad trade?

Also, does not sound like diversified risk taking unless it is a very small portion of the portfolio.

Seems a bit like what got the bankers in trouble in the first place. Of course, they were using other peoples' money.

It's more like 3/4 good trades with 1/4 bad ends where I bailout with minimal losses. It's not like I'm putting in everything I've got. It's a daily thing done in low quantities unless I'm looking at a threshold where the market can go eitherway.

I mean do you actually know what you are doing or is this some planner that you are relying on? You make it sound as if you are actually doing the option trading.

I've done well by it, yes. Saving it for moments like these, when companies release quarter revenues and sales reports, or some large event in a certain company makes for easy money.

Buying both sides of the curve means I can't lose, but I can't gain as much as I would putting everything in either option. But then, I'm not looking to buy myself a penthouse, just make paying the monthly tab at the local pizza shop easier.

[JP226]

To make money, in the end.

I mean do you actually know what you are doing or is this some planner that you are relying on? You make it sound as if you are actually doing the option trading.