MR. GRINCH GOES TO WASHINGTON
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.