Wednesday, January 2, 2013

House Passes Crap Sandwich/Fiscal Cliff Bill:

Weaselzippers has;
The GOP majority House just voted to raise taxes on 77% of American households.

Also from Weaselzippers:
Graph: Fiscal Cliff Deal vs. 2011 Budget 

To put things in perspective.
Via Zero Hedge:

And of Course: Also courtesy of Weaselzippers;

Blatant cronyism.
Via ABC News:
The “fiscal cliff” compromise has been heralded as a saving grace for middle class taxpayers, their families and the unemployed.
But buried in the fine print of the 150-page deal are also some lesser-known New Year’s gifts to some of Washington’s favorite industries. [...]
The mix of tax perks covering the next year, but with budget implications for the next two years includes everything from incentives for employers to hire veterans to incentives for employers to invest in mine safety. But it also includes these:
  • $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.
  • $70 million for NASCAR by extending a “7-year cost recovery period for certain motorsports racing track facilities.”
  • $59 million for algae growers through tax credits to encourage production of “cellulosic biofuel” at up to $1.01 per gallon.
Keep reading…

Thank you Zip.

Where do you start on this pile?

$59 Million of your increased taxes are going to Algae growers.

Government buying misery with other people's money.

Skyrocket Gas pic cred to

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