The Most Revolutionary Act

Diverse Ramblings of an American Refugee

Dr Stuart Jeanne Bramhall

Dr Stuart Jeanne Bramhall
New Plymouth, New Zealand
December 02
Retired psychiatrist, activist and author of 2 young adult novels - Battle for Tomorrow and A Rebel Comes of Age - and a free ebook 21st Century Revolution. My 2010 memoir The Most Revolutionary Act: Memoir of an American Refugee describes the circumstances that led me to leave the US in 2002. More information about my books (and me) at


JANUARY 7, 2013 7:26PM

Fiscal Cliff Bill: 100s of Billions in Corporate Tax Breaks

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The corporate media isn’t telling you about the billions in corporate tax breaks in the Fiscal Cliff Bill Obama signed this week. The mainstream media also failed to mention the corporate CEOs who had to be placated to get this deal off the ground. In his Naked Capitalism article entitled Eight Corporation Subsidies in Fiscal Cliff Bill, Matt Stoller suggests Obama spent more time negotiating with Goldman Sachs CEO Lloyd Blankfein and his CEO pals than with Republicans.

Here’s the corporate welfare score card:

  1. NASCAR (????) - $43 million of tax deductions over two years for people who build racetracks and associated facilities.
  2. Railroads – $165 million a year in deductions related to track maintenance.
  3. Disney and other Hollywood studios$150 million over two years.
  4. Mining companies – tax incentives deductions for mine safety equipment and employee training in mine safety.
  5. Goldman Sachs and Bank of Americacontinuation of  “tax exempt financing for York Liberty Zone,” a complex of high end apartments and office towers for Goldman Sachs and Bank of America Corp.” 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. GE, Caterpillar, JP Morgan – $9B Off-shore financing loophole for banks
  7. All US multinationals with foreign subsidiaries – $1.5 billion loophole exempting US corporations from paying taxes on income earned by companies they own overseas.
  8. All corporations claiming Bonus Depreciation and Research and Development Tax Credit – $118 billion combined tax break over two years.

Read more here

photo credit: eyewashdesign: A. Golden via photopin cc

Crossposted at and The Most Revolutionary Act

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