Tag Archives: Tax code

The New New Hampshire, Now Located in Massachusetts

From politicalticker at CNN:

At a time when the former Alaska governor appears to be shrinking from the spotlight, Minnesota Rep. Michele Bachmann is stepping up as yet another favorite daughter of the conservative movement.

In recent television appearances, political activities and speaking engagements, Bachmann has matched Palin’s slams against President Obama and garnered seemingly equal affection from conservative activists.

But it remains to be seen whether embarrassing and highly publicized gaffes will affect her presidential chances.

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Bubble, Bubble, Toil & Bullshit

From THE MINNESOTA INDEPENDENT:

Rep. Michele Bachmann was on a tear: In one of her most fiery stump speeches to date, the tea party leader told a South Carolina audience that the tax code was a “weapon of mass destruction,” that President Obama is “babying” terrorists, that the rich pay too much in taxes, that social issues like marriage and abortion cannot be put on the “back burner,” and that Fox News’ Glenn Beck can solve America’s budget deficit.

…snip…

“We are looking at a time of bubbles,” Bachmann said, referring to the housing and tech bubbles. She said that Americans are witnessing a “government bubble.”

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Crap Shoot

From the Los Angeles Times:

They want to repeal the healthcare overhaul, pare back financial regulations, slash federal spending and curtail the reach of the Environmental Protection Agency. In essence, they want to challenge the agenda of the Obama administration at every turn.

The new GOP chairmen of key House committees such as Appropriations, Budget, Energy and Commerce, and Oversight and Government Reform believe they have a mandate to check the size and scope of government.

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Hey, the Banks Have a New Xmas Club, and They’re All Members!

There will be no worries about regifting in the financial sector this year! Just in time for Christmas, Santa Paulson has presents for banks, no matter if they have been naughty or nice! From The Washington Post:

The financial world was fixated on Capitol Hill as Congress battled over the Bush administration’s request for a $700 billion bailout of the banking industry. In the midst of this late-September drama, the Treasury Department issued a five-sentence notice that attracted almost no public attention.

But corporate tax lawyers quickly realized the enormous implications of the document: Administration officials had just given American banks a windfall of as much as $140 billion.

…snip…

The story of the obscure provision underscores what critics in Congress, academia and the legal profession warn are the dangers of the broad authority being exercised by Treasury Secretary Henry M. Paulson Jr. in addressing the financial crisis. Lawmakers are now looking at whether the new notice was introduced to benefit specific banks, as well as whether it inappropriately accelerated bank takeovers.


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