At 02:45 PM Wednesday 10/1/2008, John Williams wrote: >As if the bailout itself weren't bad enough, HR >1424 is full of absurdities, such as section >503. We wouldn't want to mistakenly tax a >child's arrow due to its lamination or shaft >diameter, now would we? >http://banking.senate.gov/public/_files/latestversionAYO08C32_xml.pdf >SEC. 503. EXEMPTION FROM EXCISE TAX FOR CERTAIN >WOODEN ARROWS DESIGNED FOR USE BY CHILDREN. (a) >IN GENERAL.Paragraph (22) of section 4161(b) is >amended by redesignating subparagraph (B) as >sub301 paragraph (C) and by inserting after >subparagraph (A) the following new subparagraph: >ââ(B) EXEMPTION FOR CERTAIN WOODEN ARROW >SHAFTS.Subparagraaph (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 ââ(i) >measures 5â16 of an inchh or less in diameter, >and ââ(ii) is not suitable for use with a >bow described in paragraph (1)(A).ââ.(b) >EFFECTIVE DATE.The amendments made by this >section shalll apply to shafts first sold after >the date of enactment of this >Act. >_______________________________________________ >http://www.mccmedia.com/mailman/listinfo/brin-l
So the bill gives taxpayers the shaft in more than one way . . . . . . ronn! :) _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
