Stop Marsha Blackburn Now!

OK, she really needs to get out of Washington. Look at the images below of her 2nd Quarter campaign expenses – she’s living high on the hog in Washington, spending $1300 on meals at the Capitol Hill Club (we’re sure it’s not a gym, or a club to help underprivileged District children). Will she use the excuse that it was a staff holiday party or something? (Passover, perhaps?)

What’s really bad is that if you’re one of the poor schmucks who is donating $200 or $400 of your hard-earned money, while trying to keep your financial life in order, she’s pissing your money away on Filet Mignon or Lobster Tails in D.C. It’s one thing to be able to throw Halliburton’s money around, but it’s another to wastefully spend the campaign donations of the middle-class citizens of her district.

From “Speak to Power”  http://speaktopower.org/2010/05/lets-play-marsha-says-on-disaster-relief/ with poignant commentary added by Congressional candidate Greg Rabidoux (D) of Clarksville, TN

She is such a hypocrite it is amazing.  She spent the last year bashing the Obama administration and any entity that needed federal assistance, and now she sticks her hand out asking for funds to assist her district. No wonder FEMA left Tennessee to rot in mold and fester in the murky waters.  She alienates everyone in her self-egrandising manner and then becomes indignant when no one seems to care about her district.  Ladies and gentlemen, one more time, it’s time for this woman to go. She’s become a detriment to the growth of middle Tennessee.

Visit msnbc.com for breaking news, world news, and news about the economy

I don’t know why she attempts to talk about financial reform.  This is so out of her range of speaking topics.  “Boom or Bust” , “Fraud and Bailout”, “Institutionalize the Bailouts”?  What the heck does that mean?  What does she know about community banking?  Several banks within her district are community banks that needed some of the TARP that she voted AGAINST.  Stop pretending to be the champion of the financial services industry!  It’s like Hitler saying he’s all for forwarding the cause of the Jews.

Note how intently she listened to the journalist who had to explain to her exactly what the proposed legislation included.  Me thinks she’s not quite read the actual bill, but is using the “Cliff Notes” version as written by Eric Cantor.

Small Business and Infrastructure Jobs Tax Act of 2010 – Amends the Internal Revenue Code to:

(1) allow a 100% exclusion from gross income of gain from the sale of qualified small business stock acquired after March 15, 2010, and before January 1, 2012;
(2) limit the penalty for failure to disclose a reportable transaction (a transaction determined by the Internal Revenue Service (IRS) as having a potential for tax avoidance or evasion) to 75% of the decrease in tax resulting from such transaction;
(3) revise the definition of “qualified nonrecourse financing” to include qualified nonrecourse real property or Small Business Investment Company financing as amounts at risk for purposes of determining the deductibility of losses from certain investment activities, including farming, leasing, and energy exploration;
(4) increase in 2010 and 2011 the tax deduction for business start-up expenditures;
(5) extend through June 30, 2013, the period for issuing Build America Bonds;
(6) exempt private activity bonds for sewage and water supply facilities from the state volume caps applicable to such bonds;
(7) extend through 2011 the exemption from alternative minimum tax (AMT) treatment of interest on certain tax-exempt bonds;
(8) allow elective payments in lieu of low-income housing tax credits for low-income buildings financed by tax-exempt bonds;
(9) extend through 2011 the period for issuing recovery zone bonds; and
(10) allow an full offset against the AMT for new market tax credit amounts.

Sets forth revenue-raising provisions, including:
(1) a prohibition of any reduction of tax withholding for payments made by a U.S. subsidiary of a foreign parent corporation to a related subsidiary in any country that has a tax treaty with the United States, except for payments made directly to the foreign parent corporation;
(2) recognition of gain from the transfer of securities of a controlled corporation in a reorganization;
(3) the repeal of tax treatment as foreign source income of interest and dividends paid by certain resident alien individuals and U.S. corporations;
(4) treating rental income from real estate as a trade or business activity for tax reporting purposes;
(5) expanding the continuous tax levy on payments to vendors for good and services to include payments for all property, goods, or services and for delinquent employment taxes owed by such vendors;
(6) revising requirements for grantor retained annuity trusts to require a minimum 10-year period for payments from such trusts; and
(7) increasing tax penalties for failure to file correct information returns and for the intentional disregard of reporting requirements.

Requires the Commissioner of Internal Revenue to report by December 31, 2010, and then annually to the House Committee on Ways and Means and the Senate Committee on Finance on penalties relating to tax shelters and reportable transactions.