Special Interests buying senators and representatives

I am a NASCAR fan - but extending a tax benefit to track owners as a form of economic stimulus is a prime example of everything wrong with our tax code. The lobbyists representing this minority group of wealthy people were able to pass legislation to give this special group the ability to write off track improvements over 7 years rather than the standard 15 year deduction - costing the government nearly $100 Million in revenue.

It makes me so angry. There are 100 tracks in 30 states. This $100 Million in tax deductions effectively puts $1 Million dollars right into their pockets. Moreover, this special interest tax deduction has been in place for decades. NASCAR is mostly owned by the Billionaire France family, who spent nearly $400,000 in campaign contributions in the last election according to the New York Times. It does not sound to me like they are suffering financially. These race tracks pull in hundreds of thousands of fans, and politicians use the events as a pulpit for advancing their political interests - holding special fundraisers at the track in luxury suites. This is a perfect example of politicians scratching the backs of the wealthy donors who help them preserve their lifelong reelection to their seats in the house and senate.

To think that members of the House of Representatives and the Senate would even waste a breath of air discussing the preservation of this special interest incentive is beyond absurd. Track owners loose the benefit. End of Story. The fiefdom ends now so that the greater good of eliminating the deficit and the debt can be achieved.

Track owners are only one example of how wealthy minorities hire lobbyists to get tax breaks.

This tax bill was introduced by Senator Debbie Stabenow, Democrat of Michigan, home to the auto industry and the Michigan International Speedway. Representative Vern Buchanan, Republican of Florida, home of the Daytona International Speedway; and Dean Heller, a Republican Senator and former representative from Nevada, home of the Las Vegas Motor Speedway.

Among the co-sponsors, or chief backers, were Senator Pat Roberts, Republican of Kansas and home of the Kansas Speedway and Senators from North Carolina, home base for many race teams and the NASCAR industry - Richard Burr, a Republican, and Kay Hagan, a Democrat. Supporting legislation
was also provided by Senator Jon Kyl, Republican of Arizona who just retired from Congress.

Ms. Stabenow's website includes pictures of her at a fundraiser during a NASCAR Race at the Michigan track in August.

My friends - I beg you. Call out these special interest atrocities wherever you see them. This is not a Republican or Democratic issue. Both parties are deeply involved and colluding in the special interest budgeting process. As my friend Scott Davis says on this eloquent "We’ve become addicted to low taxes and high services – and (as Fletch would gleefully do) – put it on the Underhill’s account. http://richardscottdavis.blogspot.com/?m=0


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