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Wed Jan 2, 2013, 03:02 PM

From NASCAR to rum, the 10 weirdest parts of the ‘fiscal cliff’ bill

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/02/from-nascar-to-rum-the-10-weirdest-parts-of-the-fiscal-cliff-deal/

... Congress also managed to include all sorts of corporate tax breaks and other arcane provisions into the final bill, covering everything from electric scooters to NASCAR racetracks to taking the subway to work. Most of these tax breaks were already longstanding provisions — Congress has been working to renew them all year. They’re just being extended again for another year (or sometimes two), at a total cost of roughly $77 billion.

So let’s take a look at 10 of the more curious tax provisions in the fiscal cliff bill—it offers some insight into how messy the tax code is, and will continue to be for another year. (You can find the full text of the cliff bill here, with the individual tax extenders in Title II and the corporate tax extenders in Title III.)

1. A $9 billion “sop for Wall Street banks and major multinationals” ......

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Reply From NASCAR to rum, the 10 weirdest parts of the ‘fiscal cliff’ bill (Original post)
Coyotl Jan 2013 OP
jody Jan 2013 #1
Coyotl Jan 2013 #2
jody Jan 2013 #4
Coyotl Jan 2013 #5
Recursion Jan 2013 #3

Response to Coyotl (Original post)

Wed Jan 2, 2013, 03:32 PM

1. We had to pass it to discover what was in it? nt

 

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Response to jody (Reply #1)

Wed Jan 2, 2013, 08:23 PM

2. Like the "Patriot" Act.

It would be unpatriotic to vote against that one

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Response to Coyotl (Reply #2)

Wed Jan 2, 2013, 08:26 PM

4. Agree, that was a blank check for presidents to commit crimes against humanity. nt

 

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Response to jody (Reply #4)

Wed Jan 2, 2013, 09:20 PM

5. +1000

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Response to Coyotl (Original post)

Wed Jan 2, 2013, 08:25 PM

3. Most of those seem to make sense

I mean, if we're going to use our income tax code to nudge behavior, this is the sort of thing that will result, and these don't for the most part seem like awful ideas.

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