TRENDING: Other nuggets in the fiscal cliff bill: Rum, electric vehicles and motor sports
Washington (CNN) - So what is really in the fiscal cliff legislation?Yep. Electric scooters, rum, and motor sports complexes all get their tax breaks extended. I'm so glad that the House had to play chicken with the Obama administration (and they lost) over whether the split between tax increases or not was $250K or $400K. If they hadn't signed onto this legislation, people that bought electric scooters wouldn't get to claim a tax credit! Speedways wouldn't be able to claim depreciation! Native Americans might not get preferential hiring!
Of course, there are the widely-known sticking points the two sides have been haggling over for weeks: extensions of the income tax cuts for middle and low-income earners, the current estate tax rate, and the alternative minimum tax.
But there's also a provision on two- and three-wheeled electric vehicles, renewable energy, and rum.
This is what sours a lot of people on these bills. It's the extra perks, the add-ons, the riders, etc. that get tossed in when no one is looking. This bill was boiled down to just how many of us were going to see a nasty tax increase this year, and they managed to convince us that it was that mythical "other guy" that was going to take the hit. Much like the ObamaCare bill, though, we had to pass it to see what was in it. And apparently there's a lot of pork in it...
I do have to admit one thing, though: If my tax dollars are going to subsidize anything, I'm a big fan of that something being rum...
That is all.