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OUT OF MIND » HOT TOPICS » GOVERNMENT & THE NEW WORLD ORDER » Fraudulent Fiscal Cliff: Corporations Received a Surreptitiously Included $76 Billion Worth of Tax Credits ~ Corrupted Members of Congress Need to Be Arrested!

Fraudulent Fiscal Cliff: Corporations Received a Surreptitiously Included $76 Billion Worth of Tax Credits ~ Corrupted Members of Congress Need to Be Arrested!

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PurpleSkyz

PurpleSkyz
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Fraudulent Fiscal Cliff: Corporations Received a Surreptitiously Included $76 Billion Worth of Tax Credits ~ Corrupted Members of Congress Need to Be Arrested!

obama immelt

The “fiscal cliff” legislation passed this week included $76 billion in special-interest tax credits for the likes of General Electric, Hollywood and even Captain Morgan. But these subsidies weren’t the fruit of eleventh-hour lobbying conducted on the cliff’s edge — they were crafted back in August in a Senate committee, and they sat dormant until the White House reportedly insisted on them this week.

The Family and Business Tax Cut Certainty Act of 2012, which passed through the Senate Finance Committee in August, was copied and pasted into the fiscal cliff legislation, yielding a victory for biotech companies, wind-turbine-makers, biodiesel producers, film studios — and their lobbyists. So, if you’re wondering how algae subsidies became part of a must-pass package to avert the dreaded fiscal cliff, credit the Biotechnology Industry Organization’s lobbying last summer.

Some tax lobbyists mostly ignored the August bill “because they thought it would be just a political document,” one K Streeter told me. “They were the ones that got bit in the butt.”

Here’s what happened: In late July, Finance Chairman Max Baucusannounced the committee would soon convene to craft a bill extending many expiring tax credits. This attracted lobbyists like a raw steak attracts wolves.

Read the rest of the article…


Thanks to: http://2012thebigpicture.wordpress.com

 



  

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