A repository for Marcospinelli's comments and essays published at other websites.

Fiscal Cliff Deal Passed By Congress After Republicans Cave

Tuesday, January 1, 2013


Some of what's in this legislation? 

MASSIVE CORPORATE WELFARE.  

Really.

Help a brother mining company out – Sec. 307 and Sec. 316 offer tax incentives for miners to buy safety equipment and train their employees on mine safety. Taxpayers shouldn’t have to bribe mining companies to not kill their workers.

Read more at http://www.nakedcapitalism.com/2013/01/eight-corporate-subsidies-in-the-fiscal-cliff-bill-from-goldman-sachs-to-disney-to-nascar.html#hpLF14OOQy3P3kIM.99
Read the Article at HuffingtonPost

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Fiscal Cliff Deal Passed By Congress After Republicans Cave


Some of what's in this legislation? 

MASSIVE CORPORATE WELFARE.  

Really.

Tax credits for foreign subsidiaries –  Sec. 323 is an extension of the “Look-through treatment of payments between related CFCs under foreign personal holding company income rules.” This gibberish sounding provision cost $1.5 billion from 2010 and 2011, and the US Chamber loves it. It’s a provision that allows US multinationals to not pay taxes on income earned by companies they own abroad.

Read more at http://www.nakedcapitalism.com/2013/01/eight-corporate-subsidies-in-the-fiscal-cliff-bill-from-goldman-sachs-to-disney-to-nascar.html#hpLF14OOQy3P3kIM.99
Read the Article at HuffingtonPost

Read more...

Fiscal Cliff Deal Passed By Congress After Republicans Cave


Some of what's in this legislation? 

MASSIVE CORPORATE WELFARE.  

Really.

$9B Off-shore financing loophole for banks – Sec. 322 is an “Extension of the Active Financing Exception to Subpart F.” Very few tax loopholes have a trade association, but this one does. This strangely worded provision basically allows American corporations such as banks and manufactures to engage in certain lending practices and not pay taxes on income earned from it. According to this Washington Post piece, supporters of the bill include GE, Caterpillar, and JP Morgan. Steve Elmendorf, super-lobbyist, has been paid $80,000 in 2012 alone to lobby on the “Active Financing Working Group.” 

Read more at http://www.nakedcapitalism.com/2013/01/eight-corporate-subsidies-in-the-fiscal-cliff-bill-from-goldman-sachs-to-disney-to-nascar.html#hpLF14OOQy3P3kIM.99
Read the Article at HuffingtonPost

Read more...

Fiscal Cliff Deal Passed By Congress After Republicans Cave


Some of what's in this legislation? 

MASSIVE CORPORATE WELFARE.  

Really.

For Goldman Sachs, Sec. 328 extends “tax exempt financing for  York Liberty Zone,” which was a program to provide post-9/11 recovery funds. Rather than going to small businesses affected, however, this was, according to Bloomberg, “little more than a subsidy for fancy Manhattan apartments and office towers for Goldman Sachs and Bank of America Corp.” Michael Bloomberg himself actually thought the program was excessive, so that’s saying something. According to David Cay Johnston’s The Fine Print, Goldman got $1.6 billion in tax free financing for its new massive headquarters through Liberty Bonds.

Read more at http://www.nakedcapitalism.com/2013/01/eight-corporate-subsidies-in-the-fiscal-cliff-bill-from-goldman-sachs-to-disney-to-nascar.html#hpLF14OOQy3P3kIM.99
Read the Article at HuffingtonPost

Read more...

Fiscal Cliff Deal Passed By Congress After Republicans Cave


Some of what's in this legislation? 

MASSIVE CORPORATE WELFARE.  

Really.

For Disney, Sec. 317 is “Extension of special expensing rules for certain film and television productions”. It’s a relatively straightforward subsidy to Hollywood studios.

Read more at http://www.nakedcapitalism.com/2013/01/eight-corporate-subsidies-in-the-fiscal-cliff-bill-from-goldman-sachs-to-disney-to-nascar.html#hpLF14OOQy3P3kIM.99
Read the Article at HuffingtonPost

Read more...

Fiscal Cliff Deal Passed By Congress After Republicans Cave


Some of what's in this legislation? 

MASSIVE CORPORATE WELFARE.  

Really.

For NASCAR, Sec 312 extends the “seven year recovery period for motorsports entertainment complex property”, which is to say it allows anyone who builds a racetrack and associated facilities to get tax breaks on it.  

Read more at http://www.nakedcapitalism.com/2013/01/eight-corporate-subsidies-in-the-fiscal-cliff-bill-from-goldman-sachs-to-disney-to-nascar.html#hpLF14OOQy3P3kIM.99
Read the Article at HuffingtonPost

Read more...

Fiscal Cliff Deal Passed By Congress After Republicans Cave


Treat the online support for Obama with suspicion:

There's a leaked email that has gotten surprising­ly little attention around here. It's the one where AaronBarr discusses his intention to post at DailyKos - presumably something negative about Anonymous, the hacking group. But that's not the email I'm talking about here.

As I also mentioned yesterday, HBGary people are talking about creating "personas"­, sockpuppet­s. This isn't new. PR firms have been using fake "people" to promote products and other things for a while now, both online and even in bars & coffee houses.

But for a defense contractor with ties to the federal government­, Hunton & Williams, DOD, NSA, and the CIA -  whose enemies are labor unions, progressiv­e organizati­ons,  journalist­s, and progressiv­e bloggers,  a persona apparently goes far beyond creating a mere sockpuppet­.

According to an embedded MS Word document found in one of the HBGary emails, it involves creating an army of sockpuppet­s, with sophistica­ted "persona management­" software that allows a small team of only a few people to appear to be many, while keeping the personas from accidental­ly cross-cont­aminating each other. Then the team can actually automate some functions so one persona can appear to be an entire Brooks Brothers riot online.


In another Word document, one of the team spells out how automation can work so one person can be many personas:

Using the assigned social media accounts we can automate the posting of content that's relevant to the persona.  In this case there're specific social media strategy website RSS feeds we can subscribe to and then repost content on twitter with the appropriat­e hashtags.  In fact using hashtags and gaming some location based check-in services we can make it appear as if a persona was actually at a conference and introduce himself/he­rself to key individual­s as part of the exercise, as one example.  There are a variety of social media tricks we use to add a level of realness to all fictitious personas.
It goes far beyond the mere ability for government stooges, corporatio­ns or PR firms to hire people to post on sites like HP. They're talking about creating  the illusion of consensus. Consensus is a powerful persuader. What has more effect, one guy saying BP isn't at fault or 20 people saying it? For the weakminded­, the number can make all the difference.
Read the Article at HuffingtonPost

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