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DEL.ICIO.USSaxby Chambliss and last week’s vote to save Wall Street
The Atlanta Journal-Constitution
Saxby Chambliss has always said that, despite the vast sums he raised in preparation, his bid for re-election to the U.S. Senate would be close.
Now, some of his best friends are sure to make it closer.
Last week’s passage of the $700 billion Wall Street bailout (a.k.a. rescue plan) — and the sudden lurch from regulation-free, neo-conservatism to a yet-to-be-defined Neo Dealism — has split Georgia Republicans in two.
In Washington, Chambliss and senatorial colleague Johnny Isakson voted, however reluctantly, for pouring the oil of taxpayer dollars on roiling fiscal waters. The very real fate of small businesses and millions of 401(k)s was at stake, the two GOP senators said.
On the House side, Georgia’s seven Republican congressmen unanimously disagreed. “We cannot preserve our free-market economy by sacrificing the very principles that underlie it,” this Adam Smithian band of brothers declared.
We have seen the fault line before — on immigration, on farm subsidies, even in this summer’s debate over offshore drilling.
Some of the chasm is institutional. Because 60 votes are required to accomplish anything, the Senate is a deal-making body where practicality overrules philosophy. In the House, the Republican minority is powerless, so ideological purity does no harm, and in fact serves as a useful megaphone.
But while past disagreements between Chambliss and Georgia’s House Republicans have been papered over, last week’s split is impossible to disguise and thus — if you have Republican sentiments — dangerous.
It has created a box in which one cannot defend one’s self without striking an ally.
Chambliss and Isakson were on a defensive, five-city flyaround when the House reversed itself and gave final passage to the bailout plan on Friday. “We commend those members of the U.S. House of Representatives who put their country first to vote for this important legislation,” the two said in a press release.
Seven Republican congressmen from Georgia felt the sting of that statement.
Chambliss’ Democratic opponent, attorney Jim Martin of Atlanta, has come out against the bailout, saying it does too little for homeowner. “So he’s in favor of sticking his head in the sand, allowing the stock market to tank like it did Monday,” Chambliss argued, according to the Macon Telegraph.
Another inadvertant slap at the so-called G-7.
It works the other way, too. U.S. Rep. Jim Marshall (D-Macon) was one of four Democrats who voted for the package. His opponent, Republican Rick Goddard, has adopted the G-7 position.
But there’s not a swing Goddard can take at Marshall without also undermining a Republican senator.
Among Republicans on the November ballot, Chambliss is clearly the most vulnerable as a result of the financial crisis — and not just because House seats in Georgia are heavily gerrymandered.
Data out of Secretary of State Karen Handel’s office last week showed the surge of African-American voters driven by the candidacy of Barack Obama to be real. Martin, the Democrat, is certain to benefit.
Libertarian Allen Buckley has begun advertising himself to fiscal conservatives angry at Chambliss, to the point of promising to caucus with Senate Republicans if he’s elected.
Fortunately for Chambliss, while initial reaction in Georgia was against federal intervention in the economy, that sentiment is likely to shift once voters begin assessing the damage already done to their nest eggs.
In the longer term, Chambliss and Isakson may even have preserved the Republican brand in Georgia, said Chuck Clay, a former chairman of the state GOP.
Principle can be carried too far, Clay argued, offering up the Great Depression as an example.
“There are still some people who say Herbert Hoover was correct, and they may well be right. But tell that to history,” he said.
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By rape the rich feed the poor
October 5, 2008 4:30 PM | Link to this
blame bill clinton
By Ga Values
October 5, 2008 4:34 PM | Link to this
Where Saxby Chambliss gets his money::
Agri Business—-$1,368,000 Banks, Insurance, Real Estate—-$1,332,000 Lawyers & Individual Lobbyist——$641,000 Misc Business —-$679,000 Other ——$606,000..
The Agi Business got a gift of $20 billion waste from Saxby’s Farm Bill. The Banks, Real Estate & Lawyers just got a $2 TRILLION gift from the Bail Out the Banks act which Saxby & Johnny voted for. Not a bad return on your money.
By Conservative Republican
October 5, 2008 4:38 PM | Link to this
We have 7 REAL REPUBLICANS CONGRESSMEN & 2 SOCIALIST/RINO Senators. Saxby has sold us out to the LOBBYIST again..I am voting for Martin, SAXBY HAS GOT TO GO….
By Bo Chambliss LOBBYIST
October 5, 2008 4:40 PM | Link to this
Saxby is a lier, he helped add the $150,000,000,000… of pork for the Lobbyist that pay him. Saxby is SLIME.
By Cherokee
October 5, 2008 4:41 PM | Link to this
I heard the House Republicans described the other day as a bunch of poop throwing howler monkeys.
That’s CERTAINLY true of the Georgia delegation…
By Bob
October 5, 2008 4:42 PM | Link to this
Saxby has worked hard to get things done for his friends on Wall Street.
Yes to rewarding companies that send American jobs to China, India, and other countries. In 2004, Chambliss voted against closing up $39 billion in tax breaks for companies that outsource their jobs. [Vote 90, 5/11/04] In 2005, Chambliss voted against against repealing tax incentives for domestic companies that move their manufacturing plants out of the U.S. [Vote 63, 3/17/05] He even gave those same companies a tax cut. In 2003, Chambliss voted to cut taxes on U.S. companies’ overseas income from 35% to 5.25%. [Vote 165, 5/15/03]
Won’t hold U.S. companies accountable if they deal with terrorists. Chambliss even voted against an amendment that makes U.S. businesses liable for dealing with foreign businesses that have links to terrorism. [Vote 203, 7/26/05]
By W Bush
October 5, 2008 4:44 PM | Link to this
I will not be voting for Saxby this time. He is TOO close to Lobbyist & the liberal Democrats. He personally got the Republican votes that let Pelosi,Reid, Kerry, Kennedy & Boxer over ride President Bush’s veto of waste & unnecessary waste 3 times. My vote is going to Allen Buckley a real CONSERVATIVE. Here is his web site : http://www.buckleyforsenate.com/welcome.asp
By Winder Bob
October 5, 2008 4:46 PM | Link to this
Last year Saxby decides to work with a bunch of LIBERAL democrats to give a bunch of Illegals AMNESTY. We all yelled and Saxby changed his mind. This year Saxby works with a bunch of LIBERAL Democrats to put a windfall tax on oil. We are yelling but Saxby is listening to lobbyist not the voter. If Saxby has not backed off the Oil Tax by the end of the month I am voting for a real conservative Allen Buckley. You just have to wonder what Saxby will work out with the LIBERAL Democrats next year & what he does when we are not watching.
By Saxby's got to GO
October 5, 2008 4:50 PM | Link to this
“On the House side, Georgia’s seven Republican congressmen unanimously disagreed. “We cannot preserve our free-market economy by sacrificing the very principles that underlie it,” this Adam Smithian band of brothers declared.”
Our 7 Republican Congressmen have not sold out to Lobbyist, Saxby would sell his mother for a few bucks from a Lobbyist.. Leadership?? Only to the best paying Lobbyist.
By Freddy Hind
October 5, 2008 4:53 PM | Link to this
Saxby actually voted for $150,000,000,000.00 of pork. Saxby loves the Fat Cats but hates the Georgia Taxpayer. Who is going to pay for this waste??
By Ga Minuteman
October 5, 2008 4:57 PM | Link to this
Georgians, Don’t forget that Saxby was a Chairman for one of the congressional Judicial subcommittes. Judicial Chairmanship is the most sought after position in Congress because that one position controls all the legislation that goes b4 congress. Saxby was the Chairman for the Jusicial subcommittee for Immigration, Citizenship and Border Protection. Saxby was the root cause for the mess we are in with regard to criminal aliens in not only Georgia but the entire US of A. He has to go!!
By Amnesty Now Go Saxby
October 5, 2008 5:00 PM | Link to this
Saxby will give us AMNESTY if he is reelected.. Please vote for Senator Chambliss.. Here he is with our friends Teddy Kennedy & Barbara Boxer, go Saxby.
http://www.youtube.com/watch?v=cK5TprmkgRw&feature=related
By Tired of Saxby's lies
October 5, 2008 5:03 PM | Link to this
Saxby thinks he voted for 700 BILLION Dollars, FOOL you added $150 BILLION of pork and the total Taxpayer Ripoff is $850 BILLION.
By Thistle Rose
October 5, 2008 5:04 PM | Link to this
Georgia republicans are pathetic; following in the footsteps and failed leadership of George W. Bush. Georgia should go BLUE and get rid of Chambliss. But no, Georgia likes corruption, greed and incompetence in its elected officials, but only if they are republican.
By Saxby loves Lobbyist
October 5, 2008 5:05 PM | Link to this
Saxby’s son Bo is a LOBBYIST for the Chicago Merc. Board. This bill contains massive subsidies for the CORN bases ETHANOL industry. 1+1=2. President Bush has said he will veto this waste but I am sure Saxby will work with OBAMA, Kennedy, Reid & Pelosi to over ride this veto. Saxby did the Same thing on his farm bill which contained among other things $437 Million in subsidies to RACEHORSES, a $1.1 BILLION bail out for NYC land speculators with a total of over $20 Billion of pork. McCain says country First, Saxby says LOBBYIST first.
By General Goddard
October 5, 2008 5:12 PM | Link to this
Why is Saxby always working for the Democrats.. 1st it’s Kennedy & Boxer on IMMIGRATION, Then it’s Pelosi & Reid to over ride President Bush’s Veto of the Farm Bill. Then it’s Pelosi, OBAMA and Reid on the Gang of 10.He went against the 7 Republican Congressmen & worked with OBAMA, Reid, Frank & Dodd on the bail out Wall Street Act.. Now he is working against me for Jim Marshall. Why doesn’t Saxby just change parties and become a Democrat.
By Aaron Burr V. Mexico
October 5, 2008 5:21 PM | Link to this
Nancy Pelosi is indeed a toad.
Saxby Chambliss compared Max Cleland to Osama Bin Laden. If most Democrats weren’t spineless wimps they’d refuse to have him.
But desperate for votes, they’d probably take him.
They only just now got around to getting rid of Senator Lieberman, a more weasly weasel you will never find.
By Andy in West Cobb
October 5, 2008 5:21 PM | Link to this
Not sure that I see a dime’s worth of differnce in the republican senators, Saxyby and Johnny and the Democrat party. It is time to punt and give the seat to the Democrats andd start over again with the next election (Johnny’s seat). Furthermore, I am sorry to say that Chuck Clay thinks that the the brand name Republican is more important than the actual product. I am also sorry for my past support of these men.
By Fidel
October 5, 2008 5:38 PM | Link to this
Comrade Chambliss is a Communist not a republican. Since he is in the pocket of the sugar lobbyist he should be running in Cuba. Did you see the job he did on the whistle blower from Imperial Sugar?
By Chuck Clay
October 5, 2008 5:42 PM | Link to this
Saxby Special Interest is a Big Spending, Big Government, Pro Amnesty LIBERAL. The only difference between him and Charles Walker is that Walker was more honest.
By Aaron Burr V. Mexico
October 5, 2008 5:50 PM | Link to this
Republicans are communists. Communists perfected propoganda. Republicans perfect propoganda.
Communists don’t care about facts. Republicans don’t care about facts.
Communists take your property. Republicans take your property and then pretend they didn’t.
Communists start wars. Republicans start wars.
Communists turn into Kleptocracies run by the KGB. Republicans turn into Kleptocracies run by the CIA.
Communists dismiss democratic parties inside of their government. Republicans dismiss democratic parties inside of their government.
Communists have a double standard regarding members of The Party: Party Members get perks, everyone else gets shafted. Republicans have a double standard regarding members of The Party: Party Members get perks; everyone else gets shafted.
Republicans: Communists + Anasthetic so you don’t even know you’re being screwed.
By Beth
October 5, 2008 5:50 PM | Link to this
If Saxby was interested in saving my 401k why did he add a $147 Million subsidy to the Puerto Rico Rum industry?? Bet that cost a bunch of money.
By The Truth
October 5, 2008 6:00 PM | Link to this
By Julia Malone
Cox Washington Bureau
Tuesday, September 23, 2008
Sen. Saxby Chambliss: “We must do something because the cost of doing nothing is too great. You never want to see the government have to bail out certain entities, and this bill cannot become a Christmas tree for every special interest out there.”
Looks like Saxby Special Interest Chambliss doesn’t think that $150,000,000,000.00 of pork is a big deal. He had better hope that the Lobbyist he shook down are from Georgia because he has lost my VOTE.
By Georgia Taxpayer
October 5, 2008 6:25 PM | Link to this
The following are some of the top tax sweeteners in the Senate passed Bailout Bill.
Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children
Current law places an excise tax of 39 cents on the first sale by the manufacturer, producer, or importer of any shaft of a type used to produce certain types of arrows. This proposal would exempt from the excise tax any shaft consisting of all natural wood with no laminations or artificial means to enhance the spine of the shaft used in the manufacture of an arrow that measures 5/16 of an inch or less and is unsuited for use with a bow with a peak draw weight of 30 pounds or more. The proposal is effective for shafts first sold after the date of enactment. The estimated cost of the proposal is $2 million over ten years, according to the Joint Committee on Taxation.
The Oregon senators were the initial sponsors of the provisions. According to Bloomberg News, the provision would be worth $200,000 to Rose City Archery in Myrtle Point, Oregon.
Sec. 317. Seven-year cost recovery period for motorsports racing track facility
Track owners want to be able write-off the cost of their facilities on their taxes over seven years - a depreciation timetable many of them have used for decades. But the IRS has wanted to stretch it to at least 15 years and has raised questions whether the increasingly popular tracks really belong in the same tax category as amusement parks.
Auto track owners are simply trying to get out of paying more taxes - which they’d have to do if they deducted less every year. These owners have gotten plenty of tax breaks over the years from states and localities eager to get speedways. The provision would be extended 2 years till the end of 2009 and would cost $100 million. The provision encompasses all facilities including grandstands, parking lots and concession stands.
Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands
Extends until December 31, 2009 a rebate against excise taxes charged on rum imported from Puerto Rico and the Virgin Islands. A $13.50 per proof gallon excise tax is applied to distilled spirits imported to the U.S. Under this provision a $13.25 rebate is returned to PR and the VI, and is retroactive back to January 1, 2008. Permanent law sets the rebate at $10.50 per proof gallon, but the PR and VI provisions have generally been in place since the first Clinton Administration. The most recent extension of the $13.50 rebate expired January 1, 2008. Cost is $192 million.
Sec. 301. Extension and modification of research credit
The legislation reestablishes and extends the lucrative tax credit for companies doing research and experimentation in the United States. Companies that have benefited from this provision include Microsoft Corp., Boeing Co., United Technologies Corp., Electronic Data Systems Corp. and Harley-Davidson. The two-year extension is estimated to cost $19 billion.
Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation The bailout bill would give a tax break to Exxon Valdez plaintiffs, allowing them to average out their punitive damages awards over three years rather than suffer a one-time tax hit from the Internal Revenue Service, as well as other provisions. Rep. Don Young (R-AK) is a big supporter of this provision. Cost is estimated at $49 million.
Sec. 601. Secure rural schools and community self-determination program. Secure Rural Schools lead sponsors Reps. DeFazio (D-OR), Bill Sali (R-ID); Sens. Wyden (D-OR), Larry Craig (R-ID), are major boosters of this program that expired in 2006. In 1908 the federal government agreed to share logging revenue from Forest Service land with neighboring communities that could not tax the land because it was federal. As logging declined in the 1990s, the “county payments” program was initiated in 2000 to directly provide federal funding, more than half going to Oregon, to deal with the loss of revenue. The original version of this provision was introduced as a bill in early 2007 and was estimated to cost $2.2 billion when the OR and ID delegations came to agreement. To give the package more heft, Payment In Lieu of Taxes (PILT) was added to the package, bringing the total cost to $3.3 billion. PILT provides more general funding to counties for federal lands located within their borders. Sen. Reid (D-NV) talked about the PILT program being one of the important elements of the package when the Senate passed the bailout bill.
Sec. 201. Deduction for state and local sales taxes
Allows residents of states that don’t pay income tax to deduct, from their federal taxes, sales tax paid over the course of the year. States that benefit include Texas, Nevada, Florida, Washington and Wyoming. The bailout bill extends this provision for 2 years at a cost of $3.3 billion.
Sec 502. Provisions related to film and television productions
In an effort to keep film and television productions in the U.S, they would be eligible for a tax incentive program. Under this program, the cost of production of qualifying films would be permitted to be immediately expensed — that is, fully deducted from income for tax purposes — in the year the expenditures occur. This provision also makes permanent other favorable tax treatments for production. Historically Rep. Diane Watson (D-CA) has been a supporter (dating from its creation in the 2004 corporate tax bill). The cost is estimated at $478 million over 10 years.
Sec. 325. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds The tariff relief (duty savings) is intended to benefit U.S. worsted wool fabric producers that use imported fibers and yarns as inputs, as well as U.S. tailored clothing manufacturers that use imported fabrics as inputs. This provision was originally introduced as a bill in December 2007 by Reps. Louise Slaughter (D-NY) and Melissa Bean (D-IL). It extends current law provisions until 12/31/14, and in some cases to12/31/15. The 2010 to 2015 cost is estimated to be $148 million.
Sec. 309. Extension of economic development credit for American Samoa
This extends by two years a previously approved tax credit, the American Samoa economic development credit. In general, this credit allows certain corporations operating in American Samoa a tax credit. The possessions tax credit allows these corporations to offset a portion of their U.S. tax liability on income earned in American Samoa from active business operations, sales of assets used in a business, or certain investments in American Samoa. The cost is $33 million, according to the Joint Committee on Taxation.
SAXBY DELIVERS FOR LOBBYIST
By Newt knows best
October 5, 2008 6:31 PM | Link to this
Former Speaker of the House Newt Gingrich said Tuesday that any lawmaker who votes for the Bush administration’s $700 billion bailout package, which he called a “dead loser,” will face defeat in November.
Gingrich (R-Ga.) said he thinks Treasury Secretary Henry Paulson is trying to scare lawmakers into passing the bailout plan quickly and without thorough study.
“I think what Paulson hopes to do is say, ‘If you don’t do exactly what I want you to do, the whole world’s going to collapse on Tuesday’,” Gingrich said.
The former Speaker, talking to reporters at a lunch, added that he expects Democratic presidential candidate Sen. Barack Obama (Ill.) to back the plan. He predicted that, if Republican presidential candidate Sen. John McCain (Ariz.) ends up opposing the administration proposal, there will be an overnight “emergence of a McCain/reform wing of the Republican Party.”
Gingrich said that occurrence would turn the election on its head, with Republicans running ads that feature Obama with President Bush on the same team in pushing for a “nightmare” bailout plan.
The former Speaker said that by November, the flaws in the plan will be apparent, and voters will “break against anyone who votes for it.”
By Ike from Eastman
October 5, 2008 6:44 PM | Link to this
If Saxby’s $850 Billion Wall Street bailout is going to save my 401k why did the market drop 157 points when it was passed? Martin may not be perfect but he is Honest.
By Augusta Paper
October 5, 2008 7:05 PM | Link to this
A number of politicians were actually listening to their constituents for a change. And the public has been adamant in its opposition to the plan. Whether that’s because folks don’t see the seriousness of the problem and the potential effects on them, or because they simply don’t agree with bailing out failed firms and fat cats, they have inundated their members of Congress with calls and e-mails opposing the bailout.
Maybe that will change if the deal’s terms end up more favorable to taxpayers. We’re skeptical: It appears, instead, that the bill is being loaded up and larded up with baubles and bells that may end up costing us more. True to form, the Senate bailout bill included money for race tracks, wool research and Caribbean rum.
Were you not aware that sheep needed bailing out? Neither were we.
Regardless, this has all the earmarks — poor choice of words — of the failed “comprehensive” immigration bills of several years ago. Elites in Washington wanted to ram immunity for illegals down America’s throat. Despite being busy earning a living, hundreds of thousands of us stopped that canard in its tracks. Twice.
The difference this time is that the rescue sure seems necessary. Congress and the White House will just have to convince a whole lot of folks that it is.
But it’s not “incompetence” for members of Congress to ask the same questions their constituents are asking. It’s what a republic does.
By GA Values
October 5, 2008 9:44 PM | Link to this
I have no life… all I do is post on blogs under a million different names. I am fat, ugly, and my breath is so bad when i breath out my teeth duck.
By Aaron Burr V. Mexico
October 5, 2008 11:32 PM | Link to this
No Morph, you have no life.
By Don
October 6, 2008 7:58 AM | Link to this
Mission accomplished!!! Today, Monday world stock markets are took a serious beating. Dow Jones futures are trading way down. THE BAIL-OUT PACKAGE IS A DISASTER!!!
NOW WHAT!
Bush, as enabled by Chambliss and Isakson (and the Dems) has failed AGAIN!
By David S
October 6, 2008 10:02 AM | Link to this
Mr. Chambliss has no respect for either conservative values or his constituents. While there are dozens of books that explain this financial mess, its causes, and solid free market solutions, Mr. Chambliss chose instead to believe the ex-GoldmanSachs CEO and the master counterfeiter from the fed.
Mr. Chambliss will be losing his job in November because everyone who voted for this failure will be losing their jobs. It is imperative that the people send this message. I don’t like Jim Martin or his politics. Alan Buckley is of course the best man for the job - being a libertarian - but Martin will likely be getting the two votes from our household SIMPLY because america needs to send the message that we won’t take being abused like this anymore.
Thanks to the great work and consistency of Ron Paul, americans now know far more about free market economics than their so-called conservative representatives. We know our 401K’s are going to go dowm. We know that credit will be a bit tight. So what? That is better than the long drawn out depression we will surely face with this bailout and the actions the fed and treasury will surely take with the new unlimited powers this bill gave them.
Saxby is a socialist. We do not need a socialist senator. Mr. Lewis and Mr. Scott might also want to start packing their bags.
If we don’t send the message this Novemeber, we may never get another chance to send one.
By David S
October 6, 2008 10:26 AM | Link to this
Of course Diebold now counts our votes for us and I am sure that Saxby already has paid for the appropriate outcome, no matter what our wishes are. Thanks again to Cathy Cox for getting us the best darn vote rigging machines money could buy.
By Tom GA Values Hunter
October 6, 2008 10:56 AM | Link to this
Saxby will win. I hate it, but it is true. Saxby will win and Aaron Burr V. Mexico will continue to be a liberal hack. Those two things are certain.