tag:blogger.com,1999:blog-7608702.post4552756482300302881..comments2023-10-25T08:46:20.242-05:00Comments on The Distributist Review: Your Tax Dollars at Work...John Médaillehttp://www.blogger.com/profile/16463267750952578888noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7608702.post-42725962070678037222008-10-03T12:18:00.000-05:002008-10-03T12:18:00.000-05:00The $700B is not the total bill. They made it look...The $700B is not the total bill. They made it look that way with the concurrent increase in the federal debt limit of 700bn. The 700bn is the limit of how much of the bad debt they can hold at 1 time. So if they buy 700bn in bad debt, sell it off at 40 cents on the dollar, they can then buy, not 280bn, but another 700bn in bad debt instruments.<BR/><BR/>There is literally no limit to the amount this could cost us. The good news is that the greater part of the money will go to overseas investors. That's the one provision that both Paulson and Bush said would guarantee a veto, were it removed. That's the non-negotiable, that foreign investors get bailed out.Danbyhttps://www.blogger.com/profile/00627270393248813976noreply@blogger.comtag:blogger.com,1999:blog-7608702.post-7260703573280015652008-10-02T23:42:00.000-05:002008-10-02T23:42:00.000-05:00Yuck."Sec. 401: Permanent authority for undercover...Yuck.<BR/><BR/>"Sec. 401: Permanent authority for undercover operations [as related to tax provisions].<BR/>Sec. 402: Permanent authority for disclosure of information relating to terrorist activities [as related to tax provisions]."<BR/><BR/>---<BR/><BR/>Something similar to this was <A HREF="http://www.irs.gov/pub/irs-drop/a-07-70.pdf" REL="nofollow">passed by the IRS earlier</A>: "Announcement 2007-70: Suspension of Tax-Exempt Status of an Organization Identified With Terrorism"<BR/><BR/>I post this because I wonder if the three are related. <A HREF="http://conservativetimes.org/?p=981" REL="nofollow">I never did figure what was changed in the 2007-70</A>. Who is gaining this "authority" - and who is losing it?<BR/><BR/>---<BR/><BR/>This might be good:<BR/><BR/>"Sec. 601: Secure rural schools and community self-determination program."<BR/><BR/>Though... it's probably some grave evil.<BR/><BR/>---<BR/><BR/>It amazes me how well the fear mongering works though. Several folks I know tell me this could magically prevent a downward spiral of no credit -> no business -> no jobs -> etc.<BR/><BR/>Yet America continues to drown in tsunami after tsunami of immigration. If jobs are the concern, enact a temporary moratorium on the immigration. Or of course cut spending overseas and elsewhere, or raise trade barriers...<BR/><BR/>Btw, Buchanan has a pretty good article up on this bailout and <A HREF="http://www.takimag.com/blogs/article/will_mccain_make_a_mission_to_mars/" REL="nofollow">McCain</A>:<BR/><BR/>"But rather than denounce the Bush-Paulson-Pelosi-Barney Frank plan as a rip-off of taxpayers, lacerate Obama and Co. for bedding down with the kleptocrats of Fannie Mae, and advancing his own McCain plan, McCain played the establishment man."<BR/><BR/>"In recent years, we have seen the MARs rise again and again in roaring rebellion. But, invariably, when these rebellions occur, John McCain may be found inside the castle walls."<BR/><BR/>Buchanan's calling the election in favor of Obama, which... might be a good thing. In 2010 and 2012 perhaps we'll get a populist up there who'll be more friendly to distributism. Really, in my state Bob Conley is running against Grahamnesty. You might like him - at least so far as politicians go.<BR/><BR/>---<BR/><BR/>Thanks for your blogging btw. When good men don't blog, bloggers get economic news from libertarians, haha. Don't ever abandon us to the libertarians! Well, that is if your other affairs are in order of course. Take care.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7608702.post-59890250995702942082008-10-02T17:45:00.000-05:002008-10-02T17:45:00.000-05:00John, thanks for holding the line. It won't make ...John, thanks for holding the line. It won't make any difference to what they do in Washington, but it is good reinforcement for those of us who hold to the distributist truth.<BR/><BR/>If this isn't abominable I don't know what is.<BR/><BR/>PeteAnonymousnoreply@blogger.com