Full Text of Bill to Avert the Fiscal Cliff

[Arrowwind]

as my son said. .. WTF!


http://www.businessinsider.com/breaking-full-text-of-the-157-page-bill-to-avert-the-fiscal-cliff-2013-1#ixzz2GnXlCTib

[Arrowwind]

http://sphotos-b.xx.fbcdn.net/hphotos-ash4/c0.0.403.403/p403x403/309390_387059791382068_623141150_n.jpg

[WhiteFeather]

Us slaves aren't working harder and longer hrs. enough for these corporate pieces of feces. My suggestion, lets all take a long, long vacation!

Peace

W.f.

[ghostrider]

http://sphotos-b.xx.fbcdn.net/hphotos-ash4/c0.0.403.403/p403x403/309390_387059791382068_623141150_n.jpg


157 pages delivered three minutes before voting, they didn't have time to read it, they just voted. WTF ? the most important document of the year and they didn't even read it before voting ????????????? it time for them to go. ALL OF THEM .... I hope this generates some interest in the way they do business......we must expose them, expose what they do, expose every time they get raises while we pay more for things we already struggle to afford ...

[conk]

Grand prize for the one who spots the most pork. Why are we still handing out subsidies to oil industry, tobacco, sugar, liquor? On and on. Jeez, how can so many be so asleep at the wheel?

[ghostrider]

Grand prize for the one who spots the most pork. Why are we still handing out subsidies to oil industry, tobacco, sugar, liquor? On and on. Jeez, how can so many be so asleep at the wheel?

mind control and a willing mainsteam media telling you what you should believe ...

[conk]

Grand prize for the one who spots the most pork. Why are we still handing out subsidies to oil industry, tobacco, sugar, liquor? On and on. Jeez, how can so many be so asleep at the wheel?

mind control and a willing mainsteam media telling you what you should believe ...With tons of fluoride to dull the senses and create apathy....just like the soviets did.

[SilentFeathers]

First time in my life (I'm 50) that I ever seen so many people support a president that is hell bent on raising taxes, and who is promising to raise them even higher in the months to come! This is insane!

People (most) are so braindead and duped by this liar and deceiver that its rather beyond pathetic.....I've come to the conclusion that the average American IQ is about 12.

It'll be too late for the braindead to tie their shoes when they realize there is no place to run too....

[Lost Soul]

Peter Schiff chimes in on the betrayal of America by Congress & the Fiscal Cliff.

http://www.youtube.com/watch?v=5B9ycOLil7s

[rgray222]

Now that we are finding out the details of this bill it is clearly a spending bill. It is not a tax increase of any significance, it is a spending bill with "promises to cut spending" down the road. This new fiscal cliff bill actually has more stimulus money built into it.

In typical media fashion they tell us our economic problems are very complex and difficult to understand. Nothing could be further from the truth. It you are one person, one family or one company and you are tight on money you do not spend every penny you have and then borrow every penny you can get your hands on and expect to find yourself in better financial shape. You tighten your belt, cut spending and eliminate and lower cost at every turn. The government is absolutely no different. The media and politicians tell us it is different because it is the government. This is the largest lie Americans have been told and believed in decades. I can only assume that this out of control spending is intentional and will result planned crisis for the United States.

I am very confident that the United States will have a small growth spurt and it will look like we are finally on the right path. This will be a sure sign that the bottom is about to fall out. There is no doubt that between now and 2016 the looming financial crisis everyone is expecting will arrive in all of it planned glory.

[gripreaper]

This is no different than Sandy Hook. It's staged theater, designed to freak us out, then the government comes in at the last minute and feeds us the illusion that they have averted a fiscal crisis, one which they themselves created! There are no fiscal solutions in this Bill, only more spending and less revenues. While they glad-hand each other after they all got a raise, the American people will continue to languish, and businesses will not be able to grow and function.

What a travesty of appalling acting and illusions.

[SilentFeathers]

So without further ado, here are eight corporate subsidies in the fiscal cliff bill that you haven’t heard of. (These are just a few folk's)

1) Help out NASCAR - Sec 312 extends the “seven year recovery period for motorsports entertainment complex property”, which is to say it allows anyone who builds a racetrack and associated facilities to get tax breaks on it. This one was projected to cost $43 million over two years.

2) A hundred million or so for Railroads - Sec. 306 provides tax credits to certain railroads for maintaining their tracks. It’s unclear why private businesses should be compensated for their costs of doing business. This is worth roughly $ 165 million a year.

3) Disney’s Gotta Eat - Sec. 317 is “Extension of special expensing rules for certain film and television productions”. It’s a relatively straightforward subsidy to Hollywood studios, and according to the Joint Tax Committee, was projected to cost $150m for 2010 and 2011.

4) Help a brother mining company out – Sec. 307 and Sec. 316 offer tax incentives for miners to buy safety equipment and train their employees on mine safety. Taxpayers shouldn’t have to bribe mining companies to not kill their workers.

5) Subsidies for Goldman Sachs Headquarters – Sec. 328 extends “tax exempt financing for York Liberty Zone,” which was a program to provide post-9/11 recovery funds. Rather than going to small businesses affected, however, this was, according to Bloomberg, “little more than a subsidy for fancy Manhattan apartments and office towers for Goldman Sachs and Bank of America Corp.” Michael Bloomberg himself actually thought the program was excessive, so that’s saying something. According to David Cay Johnston’s The Fine Print, Goldman got $1.6 billion in tax free financing for its new massive headquarters through Liberty Bonds.

6) $9B Off-shore financing loophole for banks – Sec. 322 is an “Extension of the Active Financing Exception to Subpart F.” Very few tax loopholes have a trade association, but this one does. This strangely worded provision basically allows American corporations such as banks and manufactures to engage in certain lending practices and not pay taxes on income earned from it. According to this Washington Post piece, supporters of the bill include GE, Caterpillar, and JP Morgan. Steve Elmendorf, super-lobbyist, has been paid $80,000 in 2012 alone to lobby on the “Active Financing Working Group.”

7) Tax credits for foreign subsidiaries – Sec. 323 is an extension of the “Look-through treatment of payments between related CFCs under foreign personal holding company income rules.” This gibberish sounding provision cost $1.5 billion from 2010 and 2011, and the US Chamber loves it. It’s a provision that allows US multinationals to not pay taxes on income earned by companies they own abroad.

8) Bonus Depreciation, R&D Tax Credit – These are well-known corporate boondoggles. The research tax credit was projected to cost $8B for 2010 and 2011, and the depreciation provisions were projected to cost about $110B for those two years, with some of that made up in later years.

http://www.alternet.org/news-amp-politics/8-huge-corporate-handouts-fiscal-cliff-bill?page=0%2C1

Full text of bill if you don't believe the above 8 descriptions:
http://www.businessinsider.com/breaking-full-text-of-the-157-page-bill-to-avert-the-fiscal-cliff-2013-1

[Operator]

This is just a bad joke. Like they recently upped the credit status of Greece because they are now supposedly in
a much better shape. Excuse me? Other European states had to lower the interest rates on the money they lend
to Greece and spread it over a longer period because it was bend or break for Europe. So now that surely makes
Greece much more credit worthy?

Every time someone announces that some financial problem is solved by money or on paper you will know for sure
that they are lying. You simply cannot dig yourself out of a hole. Politicians and financial experts don't seem to
understand these simple physics.

[soleil]

with this kind of obvious entropy of what americans thought was freedom - hopefully they will start waking up by realizing all this is (fiscal cliff) bullsh*t.