MR. GRINCH GOES TO WASHINGTON
May the peace of the Lord in these troubled times comfort you and may you enjoy the holidays in the bosom of your family. May all of Putin’s missiles miss and may Santa make it through the artillery in Ukraine.
Capital Thinking • Issue #1169 • View online
Merry Fucking Christmas, Mr. Grinch. You are playing left wing progressive politics at a critical time in the history of the United States and at a critical time in the pursuit of peace in the world.
But, hey, what the Hell do I really know anyway? I’m just a Big Red Car.
Are The Biden Admin And The Dems Pro- Or Anti- Business? National Security?
Clearly the answer to the above question can be determined definitively by considering the provisions of the 4,000+ page, makeshift, abrogation-of-duty, bacchanal, omnibus budget bill.
You know the one nobody will read and everybody will vote for so they can go home on Christmas recess?
I have been studying it. You knew I would. It is a Jabba the Hutt orgy of spending and earmarks. It is disgusting. It is also dangerous.
Here is an example:
1. Since 1954, American business has been able to “expense” legitimate research and development expenses.
The benefit of this is obvious – it allows businesses to recoup the cost of lengthy development efforts as incurred particularly such things as weapons systems.
Pragmatically, it is a real, cash expense and is incurred in the present.
2. The gargantuan monster omnibus bill — supported by Dems and Dem-Lite Mitch McConnell — has no such provision.
The bill effectively rescinds the R & D expense that has existed since 1954, 68 years.
The result will be putting clogs on the feet of American industry just when they need running shoes, dampening of innovation, and a diminished level of R & D.
This inaction is not an oversight. The military industrial complex — now being prodded to turn out all kinds of weapons and ammunition to make up battlefield losses in Ukraine — was in the midst of the lobby scrum doing what lobbyists do — influencing legislation.
The Dems promised it would be there; in fact, they drafted the provision, but it didn’t make it into the gargantuan bill.