As the sun rises and more light is cast upon the fiscal cliff deal the details become more clear.
You and I will pay more in taxes because the 2% payroll tax cut was not extended.
However, all is not lost. Puerto Rican rum makers get a return of the excise taxes levied on them. So that’s good.
And railroads also get a 50% tax break on the maintenance of lines, such as the ones Warren Buffett controls which run from the oil fields in North Dakota to the refineries in Texas. (Much more efficient than a pipeline right?)
And then there’s Hollywood, which got a nice little tax break too. You know the industry which sought to impose SOPA and enjoys ridiculous levels of copyright protection. Yeah, they got hooked up.
We’re on the hook.