questionmark Posted January 15, 2012 #1 Share Posted January 15, 2012 (Reuters) - UK-based Diageo, the world's biggest liquor company that sells Captain Morgan's rum, is enjoying a $2.7 billion subsidy from the U.S. Virgin Islands, aided in part by a tax break rubber-stamped by Congress annually with little public debate. Recipients of more than $30 billion of tax breaks like these hope to catch a ride on the payroll tax legislation expiring next month, with special interests - from Diageo to Nascar racetrack owners to major U.S. banks - lobbying to win renewals of their preferences in the sprawling U.S. tax code. Read more... Link to comment Share on other sites More sharing options...
+and-then Posted January 16, 2012 #2 Share Posted January 16, 2012 The tax code is an abomination and should be scrapped. But it never will be because it was never meant solely to raise revenues. It has always been a way to control one's political adversaries as well. Link to comment Share on other sites More sharing options...
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