The arrow to nowhere
These senators couldn't save our houses... but they took a special interest in reducing the tax on wooden practice arrows?
You can't make this stuff up.
Excise Tax Exemption for Wooden Practice Arrows Used by Children -- Cost: $2 million over 10 years
Current law imposes an excise tax of 39 cents, adjusted for inflation, on the first sale by the manufacturer, producer, or importer of any shaft of a type used to produce certain types of arrows. This proposal would exempt from the excise tax any shaft consisting of all natural wood with no laminations or artificial means to enhance the spine of the shaft used in the manufacture of an arrow that measures 5/16 of an inch or less and is unsuited for use with a bow with a peak draw weight of 30 pounds or more.
Praise the Lord! Our children can practice for the next Stone Age!
Labels: financial crash, financial crisis, government bailout, pork, Senate, Wall Street, wooden practice arrows
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