It Sails through Congress...How to Take from Poor & Keep Giving to The Corp Rich
Congress Takes From The Poor, Gives To The Corporate RichBy a vote of 96-3, the Senate this week approved an $85 billion bundle of breaks known as "extenders," so named because they supposedly expire every two years. In reality, these breaks have become an all-but-permanent part of the tax code, costing the Treasury billions of dollars a year in lost revenue. Though the House has introduced rival legislation, some version of the Senate bill is likely to win final passage.
The tax breaks sailed through the Senate without any corresponding spending cuts elsewhere in the budget, despite arms, such as General Electric and Morgan Stanley, to avoid paying U.S. taxes on interest income earned abroad. Extending this "active financing" exemption for two years will cost $10.3 billion, according to the Joint Committee on Taxation. Another extender, the "CFC look-through," which lets companies defer paying taxes on royalty income, will cost $2.4 billion in lost revenue. previous demands by Republicans that any new legislation must not increase the federal deficit. They passed even as Republicans, often preaching fiscal responsibility, have forced cuts to food stamps and refused to extend long-term unemployment benefits, measures that would cost much less than the buffet table of giveaways contemplated under the bill.
Included in the $85 billion proposal is an expensive break used primarily by large multinational companies with lending
The bill also includes a bizarre collection of breaks that benefit a few wealthy interests, including millions of dollars in savings for builders of Nascar speedways and owners of race horses.
More:
http://www.huffingtonpost.com/2014/05/15/corporate-tax-extenders_n_5331517.html
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Just ask them. These are for our benefit.
terrible provisions of this package.
If you read the article, you'll see the actual percentage of the write-off for teachers...the fact is, that we can ok huge R&D write offs for corps like Google, et al, and yeah, we'll throw in a few crumbs along with the meat, but the meat is really the heart of the matter.
My "bad news"? 
Sanders tends to vote with the dems, now why would that be bad news for any DU'er? The bad news is, they could have actually also thrown in the crumb of unemployment benefits, which the dems have been trying to pass, and chose not to, the only reason the GOP is not voting to pass this at this point is because they want to re-write and throw in more shit for the l% giveaway and maybe slash some points of "Obamacare"....this is just yet another WTF moment in a series, and more (with the updated clarification) of do-nothing BS, that our broken gov't is becoming famous for.
As much as I'd like to say the tea party is wrong about everything, there are times when they have a point, instead of shitting on those points, it might be better to look at what part is good and utilize it to actually clean up the shit sandwich in some of these bills, and there are plenty points to consider. Don't be blinded by party allegiance while we collectively get fucked, even if we are getting a nice little crumb along the way.
It's like everything else, including health care, we are giving away everything while we pretend the crumbs are monumental victories, and then the irony of those tea party asshats that think any GOP'er speaks for the people is added salt to the wound(s).
Haven't we all had enough of everyone speaking out of both sides of their mouths? While the winners remain the l%...the plutocracy...
David Stockman said 7/8 of ALL WEALTH in human history has been created since 1981. Pruneface's budget guru must've added up all the GDP and estimated the stuff from the middle ages to the present. His point is that most of THAT has ended up in the pockets of the plutocrats.
In 1985, the top five percent of the households – the wealthiest five percent – had net worth of $8 trillion – which is a lot. Today, after serial bubble after serial bubble, the top five per cent have net worth of $40 trillion. The top five per cent have gained more wealth than the whole human race had created prior to 1980.” -- David Stockman, Ronald Reagan's budget director
SOURCE: http://www.cbsnews.com/stories/2010/10/28/60minutes/main6999906_page4.shtml
And there are kids in America who would go to bed hungry every night because their parents are out of work.
For the rest of us, however, too many still have too much to lose. How do you march DC if you only have two weeks vacation? Even if you march locally, how much time do people have after working 8+ hours a day. How many people will risk getting arrested if they are worried about losing their job? I try not to get despondent about the whole mess, but shit, I don't see any change until the it collapses. The electoral system is totally corrupt & compromised, the media has sold out to the highest bidder, the People no longer feel voting makes a difference & the average American has so little down time that when they do, they just want to be entertained, they don't want to read about the scoundrels in DC.
