Don’t bail out out our state!
NTU’s Andrew Moylan also has a roundup of bailout-related links – beginning with a clip comparing the bailout to a Family Guy joke that isn’t funny, except that it goes on too long – including a new site, BailoutSleuth which has been tracking where the $700 billion is going and all those sorts of minor details.
One recent applicant for the bailout money is Americans for Tax Reform head Grover Norquist – who applied for the full $700 billion. He wants to use to to cut the corporate income tax from 35% to 15%; cut the top individual income tax rate from 35% to 15%; eliminate the death, capital gains, and dividend taxes; and allow companies to fully-expense capital assets purchased the first year. If that last one doesn’t seem nearly as sexy as the others recall – it takes that many tax cuts to equal $700 billion. No chance he gets the money of course, it makes too much sense.