Bailout bill loops in green tech, IRS snooping
Declan McCullagh
Oct 03, 2008
http://news.cnet.com/8301-13578_3-10057618-38.html
Bailout type
Cost to taxpayers (Source: Reuters)
Financial bailout package approved this week
up to or more than $700 billion
Bear Stearns financing
$29 billion
Fannie Mae and Freddie Mac nationalization
$200 billion
AIG loan and nationalization
$85 billion
Federal Housing Administration housing rescue bill
$300 billion
Mortgage community grants
$4 billion
JPMorgan Chase repayments
$87 billion
Loans to banks via Fed's Term Auction Facility
$200 billion+
Loans from Depression-era Exchange Stabilization Fund
$50 billion
Purchases of mortgage securities by Fannie Mae and Freddie Mac
$144 billion
POSSIBLE TOTAL
$1.8 trillion+
NUMBER OF HOUSEHOLDS PER U.S. CENSUS
105,480,101
POSSIBLE COST PER HOUSEHOLD
$17,064+
Here's a look a some of the green-tech measures:
(1) One-year extension for wind and refined coal energy tax credits. A production credit for electricity produced from renewable marine energy sources (meaning through wave power and river power, or by exploiting the differences in ocean temperature). Energy credits for "small wind properties," geothermal heat pump systems, and energy-efficient residential properties.
(2) New renewable-energy bonds. Up to $800 billion in energy bonds may be offered to the public, with a third from "public power providers," a third from governments, and the remainder from "cooperative electric companies."
(3) Tax credits for "cellulosic biofuels" and for "carbon dioxide sequestration." An extension of an alternative fuel credit. Tax credits for "new qualified plug-in electric-drive motor vehicles." Bicycle commuters get a nod, as do regulations aimed at "residential top-loading clothes washers."
IRS undercover operations: Privacy invasion?
The bailout bill also gives the Internal Revenue Service new authority to conduct undercover operations. It would immunize the IRS from a passel of federal laws, including permitting IRS agents to run businesses for an extended sting operation, to open their own personal bank accounts with U.S. tax dollars, and so on. (Think IRS agents posing as accountants or tax preparers and saying, "I'm not sure if that deduction is entirely legal, but it'll save you $1,000. Want to take it?") That section had expired as of January 1, 2008, and would now be renewed.
There's another section of the bailout bill worth noting. It lets the IRS give information from individual tax returns to any federal law enforcement agency investigating suspected "terrorist" activity, which can, in turn, share it with local and state police. Intelligence agencies such as the CIA and the National Security Agency can also receive that information.
What's a little odd is that there's been little to no discussion of the IRS sections of the bailout bill, even though they raise privacy concerns. Treasury Secretary Henry Paulson said this week: "I will continue to work with congressional leaders to find a way forward to pass a comprehensive plan to stabilize our financial system and protect the American people by limiting the prospects of further deterioration in our economy." He never mentioned the necessity of additional IRS undercover operations.
Internet Censorship Alert
Internet Censorship Alert: Alex Jones exposes agenda to 'blacklist' dissenting sites (March 14, 2010)
As I predicted, the Obama Administration is trying to shut down the Internet - at least the parts he doesn't like. Barack Obamas regulatory czar, Cass Sunstein has stated that he wants to ban conspiracy theories from the internet. Think about what this means - Every video, every website, every blog, every email, that exposes or just criticizes the government for any reason whatsoever could be labeled a "conspiracy" and taken down. Your home could be raided in the middle of the night, and you could be carted of to jail for criticizing the government. All they have to do is call it a "conspiracy theory".
http://www.youtube.com/watch?v=aqAWmBLFodE
Monday, October 6, 2008
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