Our senators and congress-people at work ... :angry

[szh]

See here for what blew my mind tonight while doing my taxes: http://www.irs.gov/businesses/....html

Will some one explain to me why, just WHY, the "Emergency Economic Stabilization Act of 2008 (Act)", also known as the Tax Extenders and Alternative Minimum Tax Relief Act of 2008, which was signed into law by the President, and includes a key provision in Title V, Section 503 that impacts the Archery federal excise tax???

From that link, the law states:

Quote »Section 503. Exemption from excise tax for certain wooden arrows designed for use by children. [(Div. C) Act sec. 503 amends Code section 4161(b)(2)] Code section 4161(b)(2)(A) imposes on the first sale by the manufacturer, producer, or importer of any shaft (whether sold separately or incorporated as part of a finished or unfinished product) of a type used in the manufacture of any arrow which after its assembly—(i) measures 18 inches overall or more in length, or (ii) measures less than 18 inches overall in length but is suitable for use with a bow described in Code section 4161(b)(1)(A), a tax equal to 39 cents per shaft. Code section 4161(b)(2)(B) contains an adjustment to the tax for inflation.

(Div. C) Act sec. 503 amends Code section 4161(b)(2) by redesignating subparagraph (B) as subparagraph (C) and by inserting after subparagraph (A) new subparagraph (B): “EXEMPTION FOR CERTAIN WOODEN ARROW SHAFTS.—Code section 4161(b)(2)(A) shall not apply to any shaft consisting of all natural wood with no laminations or artificial means of enhancing the spine of such shaft (whether sold separately or incorporated as part of a finished or unfinished product) of a type used in the manufacture of any arrow which after its assembly—(i) measures 5⁄16 of an inch or less in diameter, and (ii) is not suitable for use with a bow described in Code section 4161(b)(1)(A).”

(Div. C) Act sec. 503 applies to shafts first sold after the DOE.[/quote]Basically, the summary is:

Quote »Summary of Section 503 - Effective October 4, 2008, certain wooden arrow shafts designed for use by children are now exempt from federal excise tax and should not be included in the sales price. These are any shafts consisting of all natural wood with no laminations or artificial means of enhancing the spine of such shaft (whether sold separately or incorporated as part of a finished or unfinished product) of a type used in the manufacture of any arrow which after its assembly measures 5⁄16 of an inch or less in diameter, and is not suitable for use with a bow that has a peak draw weight of 30 pounds or more.[/quote]So, let's see ... the "Economic Stabilization Act", to fix our economy, apparently includes a provision to remove a 39 cent federal excise tax (including an adjustment for inflation!) on arrows - per arrow, as far as I can tell - made for use by children!!!

Any reason to doubt that the politicians we elect in the Senate and Congress are completely disconnected from the real world and reality?

I wonder what other crap is hiding in there ...

Z

[OriginalWheelman]

Well, Obama said he would cut taxes... He didn't say which ones.

[marlin29311]

Some congressman's kid probably likes archery....

[liquid_cool]

you expected different from them?..there polititions...not STATESMEN..thats the difference...politions are for there own power and welth..not the peoples..next election..lets all not buy the snake oil act!.

[liquid_cool]

As for the original post.....its a cryin shame how most of the congressmen forgot what the original founders intended for this country...where have the statesmen gone of old?..where are the fervant beliefs in the greatness and prospterity of the american people to achieve in all walks af life?..where now is the incentive to be sucsessfull if the status quoe is rewarded and the sucsessfull punished?...whay havent the youth of our nation been tought the lessons of out forefathers?....this country is at a great pressipiss, leaning over the edge ready to fall if we the people dont stop the power hungry politions from destroying it and this economy forever...we need average people to run for office..not polititions...we need laws to force the media..to tell the truth and the whole story..we need to fight back.

P.S. spelling sucks..tierd.

[audtatious]

Well, Obama said he would cut taxes... He didn't say which ones.

That was the Dem bill that Bush signed. Obama was not Prez at the time.

[szh]

That was the Dem bill that Bush signed. Obama was not Prez at the time.

Correct. The wording and content were from the Senate and Congress though ...

Z