Whether or not you’re for the huge bailout that went into law yesterday, I suppose you should know this:
| An Oregon arrow maker suffers slings of outrage
An Oregon company selling a 30-cent shaft for children’s arrows became a bull’s-eye for critics of congressional pork nationwide Friday, when lawmakers eliminated an arcane tax as part of their $700 billion bailout of Wall Street. […] The critics gathered force, and the tiny company based in southern Oregon’s Myrtle Point found itself the surprising flash point for public venting against a bailout package with costs too vast for most citizens to grasp. […] As of Friday, Dishion received more than 100 phone calls, 40 e-mails and hate mail from people across the country, not to mention phone calls from the BBC and mentions on the Bill O’Reilly talk show. […] The flap reveals the misinformation circulating about what the 43-cent tax repeal is really about, according to Jay McAninch, president of the Archery Trade Association. […] The tax became a problem for Rose City and a handful of other companies in 2004, when lawmakers, while trying to correct another problem with the arrow tax, changed a 12 percent tax on all arrows to a flat 43-cent tax on arrow shafts. The tax, which got tacked on to every arrow shaft, goes to fund educational programs put on by the U.S. Fish and Wildlife Service. […] Rose City Archery’s wooden arrow shafts sell for 30 cents. |
Wait a minute. How does that work?
A 43-cent tax on a 30-cent shaft? 😯
“The 43-cent tax took a huge toll on its youth archery business” the above article goes on to say.
No kidding.