Cronyism Lives On

[Draggingtree]

The National Review :

Cronyism Lives On

By Veronique de Rugy

January 3, 2013 6:03 P.M.

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There have been a few very good opinion pieces about the large amount of special-interest goodies in the fiscal-cliff bill. This morning the Wall Street Journal, for instance, had a piece in its Review and Outlook section titled “Crony Capitalist Blowout,” which gave a good summary of all the crony tax credits in the already infamous deal:

In praising Congress’s huge new tax increase, President Obama said Tuesday that “millionaires and billionaires” will finally “pay their fair share.” That is, unless you are a Nascar track owner, a wind-energy company or the owners of StarKist Tuna, among many others who managed to get their taxes reduced in Congress’s New Year celebration.

There’s plenty to lament about the capital and income tax hikes, but the bill’s seedier underside is the $40 billion or so in tax payoffs to every crony capitalist and special pleader with a lobbyist worth his million-dollar salary. Congress and the White House want everyone to ignore this corporate-welfare blowout, so allow us to shine a light on the merriment.

[Valin]