Now, if Republicans think that I will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we’re just going to try to shove only spending cuts down, you know, well -- shove spending -- shove spending cuts at us...(LAUGHTER)
This is more than a ripoff, pilgrims. This is a damn swindle.
When rum from anywhere but Puerto Rico and the Virgin Islands arrives in the United States, the excise taxes go to Uncle Sam, but 98 percent of the excise taxes for rum from Puerto Rico and the Virgin Islands go right back to those territories, which reinvest the money in rum production.
The United States is using rum excise taxes to subsidize rum production in Puerto Rico and the Virgin Islands, which is not only a WTO violation, it’s half a billion dollars in tax revenues being thrown out the window so that more rum can be made, so that more rum can be taxed, etc…
Maybe there’s an argument for giving up 500 million dollars for rum distillers, but when we’re taxing companies that produce lifesaving technologies, then maybe we should be taxing the rum too?
The Scooter Carveout
There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of the applicable amount with respect to each such qualified 2- or 3-wheeled plug-in electric vehicle placed in service by the taxpayer during the taxable year
Thanks goodness all those poor people in Hollywood who own three Segways will be able to get a tax credit while wobbling around the sidewalk drunk on Puerto Rican rum.
Oh, there's more. Read and consider getting a lump of indigenous coal in your stocking. The Obama administration has vowed to destroy the US's dirty, nasty Coal industry, yet is more than happy to subsidize dirty, nasty INDIAN coal.