Bail Out Bill Defeated

Word just out, the bail out bill couldn’t get the necessary votes to pass. As the Dow started its plung this morning, the defeat of this bill finds the Dow in a continued downward plunge.

The question now is where do we go from here? Will they send it back to the house? Will they take it before the Senate? That’s still up for debate. What we do know at this point? The market is down 500 points, the credit market is frozen, investors are looking for something safer elsewhere.

What we don’t know is where the average American is left dangling.

Many will blame the republicans for this mess, many more already have; but to those, again I would have to ask them “who holds the majority seats the past two years?” And, “Wasn’t it two years ago that our economy started to fall apart?” Because it sure isn’t the Republicans!

Churchs Will Back McCain/Palin Despite Tax Law

“I would cast a vote for John McCain and Sarah Palin,” said Pastor Luke Emrich. “But friends, it’s your choice to make, it’s not my choice. I won’t be in the voting booth with you.”

Calling upon scriptures, Pasotr Emrich said, “I’m telling you straight up, I would choose life.”

IRS Rules prohibit Political endorsements for tax-exempt nonprofits, yet 33 Pastors in 22 States plan to do just that. These Churches are willing to risk a legal fight and even their tax-exempt status to support the McCain/Palin ticket.

Pastor Jody Hice of Bethlehim Baptist Church in Georgia, in an interview Sunday said it was more ‘a matter of First Amendment issue’ and comparing Obama versus McCain, McCain holds more to a biblical world vew. Hice said, “To say the church can’t deal with moral and societal issues if it enters into the political arena is just wrong, it’s unconstitutional.”

In 1954 Congress amended the tax code, to state that certain nonprofit groups [including secular charities and places of worship], can actually lose their tax-exempt status for participating in campaign or involvement with Political candidates.

According to Robert Tuttle, a professor of law and religion, the sermons delivered by these Pastors are a clear violation of IRS rules. Conservative Arizona based Alliance Defense Fund, a legal group, plans to send copies of the Pastors’ sermons to the IRS. The hope is to set off a legal fight and abolish the restrictions on church involvement in politics. But, even if the IRS rises to the bait, Professor Tuttle says there’s virtually no chance the courts will strike down the prohibition. “The government is allowed, as long as it has a reasonable basis for doing it, to treat political and nonpolitical speech differently, and that’s essentially what it’s done here,” Tuttle said.