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1 - 14 of 14 Comments Last updated Jan 3, 2013

Since: Oct 08

Location hidden

#1 Jan 2, 2013
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.
Under the plan, the federal government would eat nearly $100 billion in forgone tax revenue over the next two years by extending special tax credits for select businesses that had been set to expire.
While the provisions themselves are not new, and are often extended as part of major bills, their inclusion amidst a tumultuous year-end debate over deficits and debt did raise a few eyebrows.
The nonpartisan Committee for a Responsible Federal Budget listed the so-called “tax extenders” as a “bad” part of the fiscal cliff deal because their cost is not offset,“setting a bad precedent for future extensions.”
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.
•$4 million for electric motorcycle makers by expanding an existing green-energy tax credit for buyers of plug-in vehicles to include electric motorbikes.

PORK!! SPEND! What Fools
conservative American

United States

#2 Jan 2, 2013
the real winner in the fiscal cliff MESS ( President George Bush )

The bush tax cuts are now permanent !!

Good for President Bush !

__________
Niether of the Above wrote:
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.
Under the plan, the federal government would eat nearly $100 billion in forgone tax revenue over the next two years by extending special tax credits for select businesses that had been set to expire.
While the provisions themselves are not new, and are often extended as part of major bills, their inclusion amidst a tumultuous year-end debate over deficits and debt did raise a few eyebrows.
The nonpartisan Committee for a Responsible Federal Budget listed the so-called “tax extenders” as a “bad” part of the fiscal cliff deal because their cost is not offset,“setting a bad precedent for future extensions.”
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.
•$4 million for electric motorcycle makers by expanding an existing green-energy tax credit for buyers of plug-in vehicles to include electric motorbikes.
PORK!! SPEND! What Fools
Matter of FACT

Minneapolis, MN

#3 Jan 2, 2013
Correct, there is no hope.

The USA won't wake up until there is a real disaster like 911. Then MAYBE they will cut out the pork and return to basics.

I know someone making $35K will be taking home $20 less every 2 weeks. These small increases add up and pretty soon we ain't spending as much and recession here we come.

At some point we will be in a hole so deep there will be no daylight, then what?

“Liberty and Justice for ALL!”

Since: Jun 10

Bloomington, MN

#4 Jan 2, 2013
This was the first increase in Federal income taxes since 1993.

Since: Oct 08

Location hidden

#5 Jan 2, 2013
Le Jumbo wrote:
This was the first increase in Federal income taxes since 1993.
Did you not read the article? This is the reason the Sandy Hook Relief bill didn't come to the floor for a vote, this is the type of Spending Pork the Spendocraps like to toss in bills then Obama(blame)the other side when the bill is defeated. Reid and Pelosi are snakes.
Ted Hepler

Duluth, GA

#6 Jan 2, 2013
There are no words that can describe the outrageous behavior of these political worms. This is "in your face", without regard to consequences or embarrassment for one's action.
redeemer

Minneapolis, MN

#7 Jan 2, 2013
The republican party is falling apart,when rep.Ryan goes agaist his own budget plan,and Rep.Peter king tells New Yorker's not to give any funds or donations to his own party,and the repub.speaker of the house has to fight to keep his job from other party members you know that something is wrong with the reichwing.
Matter of FACT

Minneapolis, MN

#8 Jan 2, 2013
Le Jumbo wrote:
This was the first increase in Federal income taxes since 1993.
When was the last DECREASE in income taxes?

I mean most people have had DECREASES in pay.
Amused Slew

Seattle, WA

#9 Jan 2, 2013
Decreases in pay ??? Perhaps, you need union representation, huh ???
Demokrat Rules

Grantsburg, WI

#10 Jan 2, 2013
Amused Slew wrote:
Decreases in pay ??? Perhaps, you need union representation, huh ???
Oinker,

As the Number One Pork Consumer on Topix, your "Feelings" on the matter are well known. Is anything else from your perspective as a Sociopath that you "Feel" a need to share?
Amused Slew

Seattle, WA

#11 Jan 2, 2013
Drunken loser,

Decreases in pay ??? Perhaps, you need union representation, huh ???
Consistent

Grantsburg, WI

#12 Jan 2, 2013
Amused Slew wrote:
Drunken loser,
Decreases in pay ??? Perhaps, you need union representation, huh ???
Snort, Snort,

Repetitive re-posting of off Topic incantations from the emotionally crippled and intellectually deficient from your position at the Bottom of the Victims Demokrat Party again eh?
Amused Slew

Seattle, WA

#15 Jan 2, 2013
Drunken loser,

Decreases in pay ??? Perhaps, you need union representation, huh ???

What's MOST amusing to me, is you've given up your chance at success and are left with SUCK !
Crassus

Minneapolis, MN

#16 Jan 3, 2013
I just sharted out a fiscal cliff

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