at least it's bipartisan money-wasting

[madbaker]

Senators attached a provision repealing a 39-cent excise tax on wooden arrows designed for children to an historic $700 billion financial-markets rescue that passed tonight by a vote of 74-25. The provision, originally proposed by Oregon senators Ron Wyden (D) and Gordon Smith (R), will save manufacturers such as Rose City Archery in Myrtle Point, Oregon, about $200,000 a year. It's one of dozens of tax breaks benefiting Hollywood producers, stock-car racetrack owners and Virgin Islands rum- makers included in the broader legislation.

Comments

[albionwood.livejournal.com]

You are disgusted because they are reducing taxes?
It sounds like this was kind of a weird special-interest tax in the first place. Why is it bad to repeal it?

IIRC, this is why the Blue Dog Democrats voted against the bailout bill - they wanted "offsets" (spending cuts or tax increases) against the $700B. Instead, they are going to get a bill with even more tax breaks...

[madbaker.livejournal.com]

My understanding is that this is a tax break specifically crafted for them - it's not repealing a tax aimed at them.

Complicating the tax code for special interests in either direction, cut or hike, is bad public policy.