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Hooray for Good Mental Health
Posted by: Lance on Wednesday, October 01, 2008

If you support the Paulson bailout plan that is. The New York Times has coverage.
The Senate proposal would cost more than $100 billion and extend and expand many individual and business tax breaks, including tax credits for the production and use of renewable energy sources, like solar energy and wind power.

The bill would also extend the business tax credit for research and development, expand the child tax credit, protect millions of families from the alternative minimum tax and provide tax relief to victims of recent floods, tornadoes and severe storms.
In a delicious bit of soon to be civics geek trivia, the Senate worked around the Constitutional restrictions against voting on tax legislation not already considered by the House by attaching the bailout plan along with a tax extender bill to the Mental Health & Addiction Act (which passed the House several months ago).

You gotta love our government.

In addition to the Paulson plan details, various tax cuts and dealing with the AMT it includes a very helpful proposal, increasing government insurance on bank deposits from 100k to 250k.
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Previous Comments to this Post 

Say it ain’t so! Lawyers getting together to figure out a way around the laws they expect everyone else (but them) to follow? Actually this very nicely illustrates the real political problem we have in the US today...we are no longer a representative democracy that will follow the will of the people.

Instead of a cross section of the country, most of Congress is now stuffed with narcissistic, self-dealing and dissembling louts who claim they want what is best for us but fail—-at almost every juncture—-to deliver it. I am so fed up that I have decided that if there is "Incumbent" by their name on the Nov ballot, I will vote for the other person just so I can maintain some small hope they will be more honorable than the bunch of bozos there now. I highly encourage others do the same.
Written By: Unscripted Thoughts
URL: http://
I went back out and emailed/called both of my Senators and told them I am totally against this. I’m sure it will be for naught, but my conscience is clear.
Written By: meagain
URL: http://
Slight of hand - now the Senate covers for the House and the House members can say "It wasn’t us!" during the election.

oh....and gee...thanks for the ’tax breaks’ because I just know a $700 billion dollar bailout isn’t going to affect my taxes, my kids taxes, and maybe their kids taxes for the forseeable future. I’m SURE that AMT tax break is going to make all the difference.

This is like getting a $1.00 discount on $300.00 theatre tickets.


All of them...Gone....ASAP
Written By: looker
URL: http://
it includes a very helpful proposal, increasing government insurance on bank deposits from 100k to 250k.
Written By: Don
URL: http://
Nope Don, avoiding a run on the banks is helpful. An ounce of prevention is better than a pound of cure and dozens of other cliches apply here.
Written By: Lance
The Constitution. Who needs it?

/ sarc
Written By: docjim505
URL: http://
From the Times article:
On the morning after the sell-off on Wall Street, Congressional offices reported a shift in angry calls from constituents, with some now demanding that lawmakers take some corrective action — a distinct change from the outpouring of public opposition that contributed to the defeat of the plan.

“I started hearing from a lot of people who lost money on their investments thanks to the big drop on Wall Street yesterday,” said Representative Steven C. LaTourette, Republican of Ohio, who voted against the plan.
Ultimately, people who are outraged and alarmed by government’s increasingly brazen and unceremonious demands for more wealth with which to (try to) control all wealth are shouted down by people who believe government can and must spare them any and all disruptions of their comfortable dreams.

Also: It’d be interesting to know how many of the people pleading yesterday for congress to please fix the stock market right now were themselves demanding two days earlier a no vote on the bailout.
Written By: Linda Morgan
URL: http://
Who on earth has $200,000 lying around in a bank? And why should I worry about them?
Written By: timactual
URL: http://
Who on earth has $200,000 lying around in a bank? And why should I worry about them?
It it’s your grandma you might want to this is the equivalent of asking, "Who needs a Barrett .50 caliber rifle?" or asking why anyone ought to be able to call the POTUS a "Smirking Chimp" or a "Draft-Dodging Philanderer"?

You might worry if its the liquid assets of a small-to-medium company...
Written By: Joe
URL: http://

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