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We're missing the Gravy Train

January 14, 2013

While most furniture companies held their breath early in January waiting to see if we would be derailed by the runaway train dubbed the fiscal cliff, other industries apparently had already booked seats on the Gravy Train Express.
To me, the Gravy Train has to be powered by pork, because stuffed inside the 150-page tax bill are scores of links (obviously made of pork) that exist to benefit many of Washington's favored industry sectors.
Speaking of railroads, how about the more than $330 million for railroads that allow the operators of regional railroads to grab a tax credit of up to 50% of the cost to maintain railroad tracks?
The fiscal cliff bill also had some pork for motorsport race track owners that will let them deduct billions for their tracks, concession stands and bleachers.
Let's not forget the farmers. For openers, growers of asparagus got a tax break valued at $15 million a year to soothe the sting of competition from asparagus grown and imported from Peru.
That's enough to make you drink. Which brings to mind the more than $220 million granted to Puerto Rico and the Virgin Islands via returned excise taxes collected by Uncle Sam on rum made there.
Hollywood also got a handout with a $430 million break to coax filmmakers to make movies in the U.S. and in particular, in depressed areas of the country.
Makers of electric motorcycles were juiced to learn that they are getting $4 million in the form of an expanded energy tax credit already on the books.
And where are we in all of this? Nowhere.
Maybe we need to wake up, smell the gravy and get busy creating some new furniture that plugs in, runs on a track, is made of recycled asparagus and tastes like rum. Then we make a movie about it in a depressed part of the country.
Hey, why not? As a guy who loves his food, I can tell you that nothing goes better with pork than gravy.

Posted by Ray Allegrezza on January 14, 2013 | Comments (3)

January 17, 2013
In response to: We're missing the Gravy Train
Robert Mark commented:

That was a neat trick to take this blog off of the front page and bury it after my comment.
Ray, will you take up my challenge?


January 16, 2013
In response to: We're missing the Gravy Train
Steve commented:

Well said, Mr. Mark, well said.


January 15, 2013
In response to: We're missing the Gravy Train
Robert Mark/Chadds Ford, PA commented:

Have you forgotten all the gravy US furniture manufacturers got from the US government from tariffs put on Chinese goods that were found to be made with "unfair" Chinese government help to the Chinese factories? I would be willing to bet that those factory owners are believers in less government intervention when they talk their politics.

Ironically all that gravy went to US firms like Bassett and Stanley which closed down a large portion of their US manufacturing operations to offshore production in China.

I wonder how all those Virginians and North Carolina craftsmen laid off by plant closings felt about their companies pocketing all that cash while they sat wondering how to make a living. Michael Moore should be called in to make a movie about that big dollar furniture pork.
Please write an editorial researching what all those companies profiting from those tariffs did with the money they got. I challenge you to call each of them and write some real journalism.

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