Lawmakers Avoid The Fiscal Cliff But Stumble Head-first Into The Pork Barrel
Ya just gotta love the idiots that we elect. In a time when the constant call is for more taxes our lawmakers waste tax payers dollars without a care in the world.
This new deal includes...
- An arcane provision of corporate tax law, called active financing income, that lets U.S. corporations defer taxes on some income they earn from their overseas subsidiaries. That provision will cost the U.S. Treasury more than $9 billion this year and $1.8 billion next year.
- Tax breaks worth $70 million over two years for the owners of race tracks like Charlotte Motor Speedway in Concord, N.C.
- Tax breaks for Hollywood producers who shoot their movies and TV shows in the U.S., at a cost of about $430 million through 2014.
- A tax break worth about $15 million a year for asparagus growers hit hard by cheap asparagus imported from Peru.
- $4 million in tax breaks over the next two years for people who buy "2- or 3-wheeled plug-in electric vehicles" ó in other words, electric scooters, Segways and the like.
"Gotta love the idiots we elect"
Stop giving and start taking. All I have to say.
so in other words they are allowing our companies to keep money in off shores accounts tax free. Isnt that exporting inflation? We have been doing for 100 years now.
Im guessing by exporting all that inflation it wont help prices at the pump.