Taxpayers for Common Sense - It's time for politicians to prioritize spending

The "$700 Billion Bailout Plan" - euphemistically called "The Rescue Plan" - is an instinctively wrong but practically essential step to ease the financial crisis plagueing our financial system.

What is most disturbing is the fact that the House of Representatives rejected the Bill on Monday 9/29/08, which was then modified and then approved by the Senate on Wednesday 10/01/08. The tweaked Bill contains some ridiculous items not related to the Rescue Plan at all. The outrageous "Pork" (aka sweetners) items are discussed on The Taxpayers for Common Sense website:

Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children: This provision will have a cost of $2 million over ten years, according to the Joint Committee on Taxation. According to Bloomberg News, the provision would be worth $200,000 to Rose City Archery in Myrtle Point, Oregon. What possible relevance does this have to the Rescue Plan?

Sec. 317. Seven-year cost recovery period for motorsports racing track facility: This provision will allow racing track owners to be able write-off the cost of their facilities on their taxes over seven years. Auto track owners are simply trying to get out of paying more taxes. Again, what relevance does this have to the Rescue Plan?

Sec 502. Provisions related to film and television productions:In an effort to keep film and television productions in the U.S, they would be eligible for a tax incentive program. Under this program, the cost of production of qualifying films would be permitted to be immediately expensed. The cost is estimated at $478 million over 10 years. Why does this provision need to be included in the Rescue Plan?

Politicians are still playing politics during this urgent crisis. It appears they are not focusing on the immediate subject at hand, but are pursuing their independant agendas and using this Bill as a negotiating tool to get what they want. Spending priorities need to be scrutinized and explained.

We need this Bill to pass, but once the dust settles I believe that each and every politician who was instrumental in adding provisions like the ones I referred to above, needs to be held fully accountable to the taxpaying public. Politicians (from both parties) need to stop this unacceptable conduct and one-and-for-all take care of all Americans and not a handful of protected interest groups.