Jim Bunning a senator I can support!
Jim Bunning is the senator this country needs, listening to his debate regarding the stimulus package I am growing quite fond of his ideas. His name previously showed up when TARP was being discussed and he was vehemently opposed to what at that time obviously looked like a horrible idea and one of Bush's worst legacies.
In fact Jim referred to TARP as socialism, which is precisely what it is shaping up to be.
Today he proposed an amendment that I believe is extremely overdue and as someone who has experienced stock losses before I believe is essential in modifying. As it stands, investors can write off up to a maximum of $3,000 in losses per year. This tax break was proposed in the 1970s with absolutely no regard for inflationary pressures what so ever. In 2009 the original proposal of $3,000 has eroded over 70%! Jim Bunning has therefore proposed, what I believe to be an extremely stimulative idea, that is to raise the limit from $3,000 to $15,000! His thinking is based on a simple concept that the stock market declines in the past year have caused massive damage to the portfolios of a great many Americans, stifling retirement among other things. His amendment for the time being is only going to extend to this year, but ultimately his ambition is to make this permanent. Jim also identified about 4+ billion dollars being given to corporations in the form of a tax credit, even if they do not require it. He dubbed this corporate welfare and suggests striking it from the bill.
Good man, Kentucky is lucky to have a man like this representing.
In fact Jim referred to TARP as socialism, which is precisely what it is shaping up to be.
Today he proposed an amendment that I believe is extremely overdue and as someone who has experienced stock losses before I believe is essential in modifying. As it stands, investors can write off up to a maximum of $3,000 in losses per year. This tax break was proposed in the 1970s with absolutely no regard for inflationary pressures what so ever. In 2009 the original proposal of $3,000 has eroded over 70%! Jim Bunning has therefore proposed, what I believe to be an extremely stimulative idea, that is to raise the limit from $3,000 to $15,000! His thinking is based on a simple concept that the stock market declines in the past year have caused massive damage to the portfolios of a great many Americans, stifling retirement among other things. His amendment for the time being is only going to extend to this year, but ultimately his ambition is to make this permanent. Jim also identified about 4+ billion dollars being given to corporations in the form of a tax credit, even if they do not require it. He dubbed this corporate welfare and suggests striking it from the bill.
Good man, Kentucky is lucky to have a man like this representing.
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