Thursday, October 02, 2008

Bailing Out Wooden Arrows for Kids

This from Bloomberg's wire this morning, attached to our $700 billion stimulus package? A repeal of a 39 cent tax on makers of children's wooden arrows.

Just let that sink in for a moment. So for those who are worried about losing their jobs, paying their mortgage, FINDING a student loan, rest assured that prices on those wooden arrows you know you buy your child by the crate, won't be going up. Whew!!

Here's the piece and the link: (And remember....both McCain and Obama voted for this..)

Senators attached a provision repealing a 39-cent excise tax on wooden arrows designed for children to an historic $700 billion financial-markets rescue that passed tonight by a vote of 74-25. The provision, originally proposed by Oregon senators Ron Wyden [D] and Gordon Smith [R], will save manufacturers such as Rose City Archery in Myrtle Point, Oregon, about $200,000 a year.

It's one of dozens of tax breaks benefiting Hollywood producers, stock-car racetrack owners and Virgin Islands rum-makers included in the broader legislation in an effort to win support from House Republicans, whose defection contributed to a rejection of an earlier version of the legislation two days ago on a 228-205 vote.

2 comments:

Anonymous said...

you have go to be kidding me.. is this for real...

YLM said...

sadly... yes.