Breaking news: Bush threatens veto of House plan

[MsDoodahs]

says he is going to shove the senate plan onto us.

What is the Senate plan?

Any idea?

I'm guessing it's whatever Barney said they should do...

[Bruno]

how can he do that? I thought a bill had to pass through both House and Senate?

oh, this will go over well with the public.

[Deborah K]

says he is going to shove the senate plan onto us.

What is the Senate plan?

Any idea?

I'm guessing it's whatever Barney said they should do...

Barney Frank is a big reason we're in this mess!

[MsDoodahs]

I don't understand it at all. It was a REALLY FAST "breaking news" on bloomberg just a few minutes ago.

They pulled it REALLY fast.

WTF?

Confusing...

[HOLLYWOOD]

FYI...


Banking FINANCIAL whores: Senators Dodd, Shumer, Reid, Conrad have a wonderful SPEND SOCIALIST plan.

Could someone do a high quality Morph on the Senator SLUG Chris Dodd... He need white Vulcan bangs and pointed Ears and pointed Eye Brows.

Greatly appreciated!

[Deborah K]

Now they're talking about getting rid of capital gains tax. What about getting rid of taxation of wages??? It's UNCONSTITUTIONAL!!! Ending captial gains tax only helps the rich!!

[pacelli]

Turn on C-SPAN 2. Senate is voting on whether to move forward with the 'economic stimulus plan' - 60 "ayes" needed.

[enjerth]

Appropriation and spending bills must originate in the House of Representatives.

*shock* This is unconstitutional.

[SnappleLlama]

What the hell?! Keep bumped with updates!!

[fedup100]

Senate voted no to proceed to take over, but it was too close for comfort.

I guess if Pelosi had impeached dick and puppet, this wouldn't be a problem now. It is very obvious Pelosi and Reid and all DEMS have their lips firmly attached to the administrations policies and ass.

[angelatc]

McCain apparently annointed Representative Blunt (MO) as a designated negotiator for House Republicans. http://www.blunt.house.gov/Contact.aspx

In Washington DC:
217 Cannon House Office Building
Washington DC, 20515
(202) 225-6536
(202) 225-5604 Fax

In the Seventh District:
2740-B East Sunshine
Springfield, Missouri 65804
(417) 889-1800
(417) 889-4915 Fax
101 North Range Line Rd. Box 20
Joplin, Missouri 64801
(417) 781-1041
(417) 781-2832 Fax

[fedup100]

Appropriation and spending bills must originate in the House of Representatives.

*shock* This is unconstitutional.

I'll say it again this is the end stage of a COUP, this is the plunder and the troops in the streets are on their way.

We need to start a thread for troop watch. I noticed on Tuesday or Wednesday, large troop movement into Seattle from I90.

[Bradley in DC]

how can he do that? I thought a bill had to pass through both House and Senate?

Yes, bills must pass both the House and Senate.

The Constitution says all tax bills must originate in the House (they do follow that one) so if the Senate adds any tax provisions, the House will have to pass something first then get voted on again by the Senate.

Bush is trying to bully the House Republicans to follow the Bush/Paulson/Democratic plan quickly with no questions rather than continuing to work on their alternative.

That's the best I've got.

[Otter Mii-kun]

Appropriation and spending bills must originate in the House of Representatives.

*shock* This is unconstitutional.
Notice how Bernanke and Paulson began the deliberations on the Big Bailout in the SENATE Banking Committee first—as if this plan originated in the SENATE?

Something's highly suspect about this arrangement... or is this crisis so "serious" and "dire" that the Constitution doesn't matter anymore?

[werdd]

Senator Cornyn, i urge you to not vote for the bailout in any shape or form. This is robbery of the american tax payer, and we should not reward these companies with a socialistic bailout of any sort.

In Capitalism, if you run a flawed business, you should be allowed to fail. This bailout, is straight out of the communist manifesto.

I voted for you last time, and if you vote for this legislation i will actively campaign against you in my community.

Stand up for the conservative values you campaigned on, in the reagan / goldwater tradition.

Thank you.

[zach]

So Bush will nonetheless veto something that doesn't go his way..

That's encouraging. :/

[Bradley in DC]

Notice how Bernanke and Paulson began the deliberations on the Big Bailout in the SENATE Banking Committee first—as if this plan originated in the SENATE?

Starting in the cmte doesn't matter. It matters if the Senate as a whole body votes before the House as a whole body.

[HOLLYWOOD]

Yes, bills must pass both the House and Senate.

The Constitution says all tax bills must originate in the House (they do follow that one) so if the Senate adds any tax provisions, the House will have to pass something first then get voted on again by the Senate.

Bush is trying to bully the House Republicans to follow the Bush/Paulson/Democratic plan quickly with no questions rather than continuing to work on their alternative.

That's the best I've got.

The BAILOUT plan includes SECURITY PROTECTION of Dubya Bush, His Immediate family and shirt-tailed relatives, for the next 50 years... oh and all the secretivecrap and immunity for all involved in the legislation! :rolleyes:

You know there's a lot of DIRT in the Details of this CLASSIFIED BAILOUT and IT IS ILLEGAL for the government to rewrite ANY mortgage contract. It's against and forbidden in the US CONSTITUTION for government to cancel a contract between 2 parties and alter/rewrite it per the government.

Judge Anthony Napolitano

now you wonder why Dubya BUSH wants this RUSHED!

[jcarcinogen]

The House minority whip just said on MSNBC that House Republicans are being left out of talks. I guess since they are a minority it will pass without them as long as they are kept away so that they can't influence anyone.

[werdd]

bush wipes the constitution with his ass yet again.

It's about the only thing bipartisan these days.

killing the constitution

[Otter Mii-kun]

The House minority whip just said on MSNBC that House Republicans are being left out of talks.So much... so long... and we were told back in '06-07 that Pelosi as Speaker would allow full debate and consideration of any amendments from the minority.:mad::mad:

[tpreitzel]

bush wipes the constitution with his ass yet again.

It's about the only thing bipartisan these days.

killing the constitution

Yes, and the reason that "killing the constitution" is bipartisan is due to a conspiracy, yes, conspiracy at the federal level to usurp power from the people and their respective states. Notice how the branches of government at the federal level NEVER use the internal checks of the US Constitution to restrain one another.

[slacker921]

Now they're talking about getting rid of capital gains tax. What about getting rid of taxation of wages??? It's UNCONSTITUTIONAL!!! Ending captial gains tax only helps the rich!!

Just got this in an e-mail from BJ Lawson:

Here is a plan that I would support:

1. Eliminate capital gains taxes on real estate purchases to encourage existing private capital to buy underlying real assets.
2. Affirm that all voluntary barter transactions between two individuals (human individuals, not “corporate persons” or legal entities) are tax-free, regardless of the medium of exchange.

The first step will help stem the fall in real estate prices without increasing debt or bailing out irresponsible borrowers or lenders.

[wizardwatson]

Now they're talking about getting rid of capital gains tax. What about getting rid of taxation of wages??? It's UNCONSTITUTIONAL!!! Ending captial gains tax only helps the rich!!

For that matter, how bout 'only' taxing according to how the Constitution says the federal government can tax.

[pacelli]

So Bush will nonetheless veto something that doesn't go his way..

That's encouraging. :/

If that's true, then it must not be as urgent as he says it is.

[pacelli]

Just got this in an e-mail from BJ Lawson:

Actually that's a snippet of the e-mail. Here's the full e-mail.




We know we don't want taxpayer financed bailouts of poorly managed financial institutions. We know we are in an unsustainable position with respect to taking on more debt from foreign lenders.

Here are some thoughts about how we might navigate this precipice:

http://blog.lawsonforcongress.com/2008/09/26/what-to-do/

The executive summary is as follows:

Practically speaking, what should we do? As unpleasant as deflation sounds, collapsing our currency is worse. We must not collapse our currency to bail out corrupt institutions who benefited from unsound practices. A bailout attempt must not tip us over into a run on the currency. With an existing $9.7 trillion debt and $53 billion in long-term entitlement liabilities, we are not the world’s best credit risk to abruptly increase our borrowing.

If pain is inevitable, how can we temper the economic turbulence to come?

Here is a plan that I would support:

1. Eliminate capital gains taxes on real estate purchases to encourage existing private capital to buy underlying real assets.

2. Affirm that all voluntary barter transactions between two individuals (human individuals, not “corporate persons” or legal entities) are tax-free, regardless of the medium of exchange.

The first step will help stem the fall in real estate prices without increasing debt or bailing out irresponsible borrowers or lenders.

The second step will restore a more reasonable balance of power between individual Americans who have been pistol-whipped in this economic mess, and the corporations who benefit from an unsustainable system.

Together, they will reduce near-term economic dislocations, while providing a platform for sustainable community-based growth over the long term.

This moment in American history calls for principled leadership by an irate minority in Congress who is willing to stand up for the American people. The human people, the individuals — not corporations who already run Washington through their lobbying machines.

Please help us spread the word about the need for principled change in Washington. Where is my opponent's contribution to this critical dialog?

[Deborah K]

Just got this in an e-mail from BJ Lawson:

There won't be much capital gains to be had in this real estate market so I really don't get that. I heard Glenn Beck and some WSJ pundit agreeing to abolishing cap gains. That is sooooo misguided.

I read a book called: Constitutional Income - do you have any. It was written by a congressman named Phil Hart. He goes into the history of the 16th amendment. In it he explains that when the 16th amendment was written, the definition of income was what we now refer to as "unearned income" like that of capital gains. Wages were not a part of this. If you read anything written during 1913, you'll discover that the average Joe earned a wage NOT an income. Only the wealthy earned an income. Wage earners were never referred to as income earners. His book goes into how we all ended up as tax slaves, but the point of this is that if they do away with the original intent of the 16th amendment, it is only going to create more tax slavery for us working stiffs.

Another good book is called: Cracking the Code by Pete Hendrikson. Both books teach you how to remove the shackles. I highly recommend them.

[Pete]

Runaway inflation will produce runaway capital gains.

On the bright side, gains on gold would not be taxable.

[Carole]

Barney Frank is a big reason we're in this mess!
Somewhere on tv today it was noted that Frank's former "husband" ? or boyfriend or whatever was a director in Fannie Mae.

Tonight on Dobbs it was noted that all four of these negotiators-Dodd, Frank and the other two (forgot names=Balant ? and whomever) had received a LOT of money from the people being being bailed out. Yet-NO conflict of interest. LOL :D