Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Here's The Real Reason Conservatives Love Tax Breaks
Posted
January 12, 2014
Views
52,350
Likes
1,423
Comments
458
Engagement
3.59%
January 12, 2014
52,350
1,423
458
3.59%
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5:07Now Playing"U.S. lawmakers return this week from their holiday recess to perform what has become an annual ritual: pretending to decide whether to extend dozens of temporary tax breaks.
The just-expired shelters -- for Hollywood filmmakers, rum producers and dozens of other constituent groups -- are a showcase for why the U.S. tax code is so mind-numbingly complicated and overdue for simplification. There are 55 breaks in all, costing taxpayers about $50 billion annually.
They are the essence of special-interest legislating. Every year or two, lawmakers lament that the tax breaks are oh so expensive; anxious lobbyists attend their fundraisers over the recess, campaign checks in hand; when Congress resumes, lawmakers somehow find a way to pass the tax bill, adding a few new breaks on top of the perennials (all retroactive to Jan. 1, of course)."* The Young Turks host Cenk Uygur breaks it down.
*Read more here from Bloomberg:
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