January 2013
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More Bullshit from Congress

I used this quote a couple of years ago, but it’s time to resurrect it in light of the fiscal cliff scam.

It will be of little avail to the people, that the laws are made by men of their own choice, if the laws be so voluminous that they cannot be read, or so incoherent that they cannot be understood; if they be repealed or revised before they are promulgated, or undergo such incessant changes that no man, who knows what the law is to-day, can guess what it will be to-morrow. Law is defined to be a rule of action; but how can that be a rule, which is little known, and less fixed?

Federalist 62

So the Senate voted in the wee hours on a 150+ page piece of legislation they received only 3 minutes prior to the vote. The bill can be found here. The bill is called (with no intentional irony) the “American Taxpayer Relief Act of 2012.” In the 150+ pages, only about 10 pages provide anything like tax relief (extending the Bush tax cuts for most people). Over 120 pages are little more than corporate pork, providing various exemptions and deductions to favored businesses.

All of which goes to another point I’ve made repeatedly: There is no such thing as a corporate tax. Corporate taxes are just another business expense passed on to consumers. And the consumers most likely to be impacted the most are the ones in the bottom quintile, who are most likely to spend everything they make just to get by.

That bullshit legislation, with 120+ pages of corporate graft, is yet another reason why lobbyists have so much influence in Washington. As long as legislation is used for choosing winners and losers in the market (which is what those 120+ pages of graft is all about), instead of being directed to the purpose of raising revenue in a way that is least damaging to the economy, there will continue to be graft in the guise of legislation.

fiat lux!

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