One Response to “Murphy, Patrick (D-PA-8th) Rep.”

1. In perhaps one of the most dire hours in the history of our country, numerous members of Congress could not restrain themselves from abusing the public trust and tax dollars. After the first $700 billion Wall Street bailout plan was rejected in the House, an additional $150 billion in tax incentives were added to the bill in the Senate in order to “buy” the extra votes needed to pass this disastrous plan that would allegedly save the United States of American from certain impending doom. Why such drastic measures are necessary and how this will benefit the middle and lower classes has yet to be explained to anyone’s satisfaction - which is one reason why Wall Street responded with record setting losses. It is a great injustice to reward fiscally irresponsible Wall Street executives and financially overextended taxpayers with a bailout of their bad behavior and sponsored by the hard earned tax dollars of fiscally prudent American citizens. Instead of subsidizing creditworthy first time homeowners, this bill rewards property flippers and overextended homeowners. The bloated “Wall Street bailout bill” includes numerous unnecessary measures to further funnel more tax dollars to those who don’t need or deserve them. Below are just a few of them:

   # $128 million for manufacturers of car racing tracks (Nascar states, Virginia & North Carolina)
   # $10 million to small television and film producers (Los Angeles, California)
   # $223 million for fishermen affected by the 1989 Exxon Valdez oil spill
   # $6 million for children’s wooden arrows (worth at least $200K to Rose City Archery, a company in Myrtle Point, Oregon)
   # $192 million on excise taxes for Puerto Rican and Virgin Island rum industry
   # $148 million for US wool fabric producers
   # $19 billion for companies that do research in the U.S. They get a two-year extension of a tax credit
   # $478 million for movie and television producers. A tax incentive is intended to keep production here in the U.S.
   # $10 million for businesses that encourage their employees to commute by bicycle
   # $149 million for corporations and agriculture producers that donate food
   # $49 million for groups that donate books to schools ($49 million)
   # $33 million for corporations operating in American Samoa
   # $50 million and $100 million to Midwestern states for “disaster relief,” even though crops have recovered extremely well after this year’s flooding
   # $322 million for manufacturers of energy-efficient appliances will qualify for up to $250 in federal tax credits for each machine they produce over the next three years

   Thank you sir! More of my money going to taxes, how can I thank you? That’s right. The next election.

   Sincerely,
   Soon to be formerly registered Democrat,

   John J. Jones III

   By John J. Jones III on Oct 8, 2008 | Reply