What’s 700 Billion between friends?
Despite the fact that our economic crisis threatens the very nation itself, Washington just couldn’t get the job done with rolling out the fabled Pork Wagon.
And so we come to one of the silliest, most pork-laden provisions I’ve ever seen in a piece of legistlation, the “Bow and Arrow Tax Exemption”. Section 503 of the bailout bill is titled “Exemption from excise tax for certain wooden arrows designed for use by children.”
Effectively, the provision exempts from tax certain children’s bow and arrow toys, specifically, “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— measures 5/16 of an inch or less…”
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Michael Spadaccini is the author of 8 books on self-help legal matters such as, Ultimate LLC Compliance Guide: Covers All 50 States (Ultimate Series), Ultimate Book of Forming Corps, LLCs, Partnerships & Sole Proprietorships, and Ultimate Guide to Forming an LLC in Any State, Second Edition (Ultimate Series).
You can view his Amazon Author Profile Here.