ABC
Fiscal cliff deal also doles out millions to Hollywood, railroads, rum producers
$430 million for Hollywood through “special expensing rules” to encourage TV and film production in the United States. Producers can expense up to $15 million of costs for their projects.
$331 million for railroads by allowing short-line and regional operators to claim a tax credit up to 50 percent of the cost to maintain tracks that they own or lease.
$222 million for Puerto Rico and the Virgin Islands through returned excise taxes collected by the federal government on rum produced in the islands and imported to the mainland.
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Take that, “the rich”!
Jeddite on January 2, 2013 at 12:43 PM
So, it’s a 1% percenter tax credit. But, but, but…the middle clase?
Oil Can on January 2, 2013 at 12:44 PM
The new land
Schadenfreude on January 2, 2013 at 12:44 PM
You just know these companies have done an ROI analysis on the government lobbying which, by itself, is sad. Heck, I’d bet they have it down by politician.
Do we expand our workforce? Or throw money at Washington for better tax treatment?” That decision gets easier and easier each election cycle.
Meric1837 on January 2, 2013 at 12:45 PM
Why leftards are always hypocrites.
Obama wastes 3 million on a trip, doing nothing at all, when many hungry could have been fed with that, just for one ex.
Schadenfreude on January 2, 2013 at 12:46 PM
Now just who is one bit surprised by this pork? Things like this is why it is nothing but krap everytime a bill is passed in dc? Anything someone wants will be stuck in a ‘must passed bill’ everytime!
IT is never going to change as long as we have such crooks in dc, NEVER!
L
letget on January 2, 2013 at 12:46 PM
“When you see that trading is done, not by consent, but by compulsion – when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see that money is flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed.” – Ayn Rand
RadClown on January 2, 2013 at 12:52 PM
Option #1:
Option #2:
rogerb on January 2, 2013 at 1:01 PM
It doesn’t dole out money. It lets certain enterprises keep more of their money.
I think we need a much much simpler tax code that doesn’t play favorites but we need to stop using the language of progressives. A tax break is not a hand out or a subsidy.
gwelf on January 2, 2013 at 1:03 PM
On the issue of pork, there are many pitching a fit the sandy bill wasn’t brought up for vote! Well at least half of the 69+B is PORK that has zero to do with sandy relief! Just more add anything you want as pork to a ‘must be passed bill’!
L
letget on January 2, 2013 at 1:06 PM
Actually it is, because it is targeted and specific. I cannot get any benefit from these special laws. Thus it is a tax break, just like the home owner’s interest tax deduction is.
astonerii on January 2, 2013 at 1:06 PM
Oops, I meant it is a subsidy.
astonerii on January 2, 2013 at 1:08 PM
I’m not saying it isn’t government favoritism (which it is and which I’m against) but it’s not doling out money. Enterprises are keeping more of their own money, they’re not receiving money from the government.
I guess it depends on your definition of subsidy – it seems to me that most people think of actual money transfers when the word subsidy is used.
gwelf on January 2, 2013 at 1:12 PM
Language warning
Schadenfreude on January 2, 2013 at 1:12 PM
That reminds me. Option #3:
rogerb on January 2, 2013 at 1:13 PM
I guess I do not.
My house is subsidized by the interest deduction. I know that in advance and allocate my w-2 to insure that at the end of the year I owe only a tiny amount or am owed just a tiny amount.
I guess I do understand your argument though, the government is not handing money out, they are just making it less expensive for those companies to operate in comparison to others.
astonerii on January 2, 2013 at 1:15 PM
Only if you think of a tax as an absolute…
If they raised the taxes on all income to 85%, but all doctors pay only 75%, you would think that the doctors get a subsidy, and that is how the government gets the weak mind to think…by accepting what they do by providing worse alternatives.
The fact is, they are both over taxed, and “subsidies” is the smoke screen…
So not paying taxes on buying a house, is exactly what it should be, not paying taxes…it’s not a “subsidy” it’s a portion of income that is not taxed. Why should you be taxed on the interest you pay? The bank is taxed on that as profits…If they wanted a “sales tax” than add that to the cost of the home.
You are already taxed on that money, you are just receiving a rebate back on overpaying taxes.
The “subsidy” argument is designed to separate and divide people…and to garner votes. The fact is, it’s people overpaying and getting some relief…that’s not a subsidy, except to the people easily fooled by our tax system.
right2bright on January 2, 2013 at 1:50 PM
ABC’s examples are peanuts compared to the $12.1 billion in pork to the Rube Goldberg wind industry.
ABC conveniently overlooks the $12.1 billion Production Tax Credit extension for the wind industry, a classic case of “rent seeking” by a dead-ended industry seeking to maintain profits through crony capitalism and lavish tax subsidies.
petefrt on January 2, 2013 at 2:16 PM
Yes, Merc, lobbying is a profit center.
And you can bet Hollywood gives plenty of money to Repubs too. They also go from state to state playing off one against the other for state tax breaks. I would bet the bill sponsors get a nice contribution for the next election.
CA has given more tax breaks for this year, but they still have to deal with the unions, so it won’t help the workers much. RTW states win again. Funny how liberals forget their principles when it comes to cash!
PattyJ on January 2, 2013 at 2:21 PM