The “fiscal cliff” legislation passed this week included $76 billion in special-interest tax credits for the likes of General Electric, Hollywood and even Captain Morgan. But these subsidies weren’t the fruit of eleventh-hour lobbying conducted on the cliff’s edge — they were crafted back in August in a Senate committee, and they sat dormant until the White House reportedly insisted on them this week.

• Obama Cuts Welfare, While His Economic Advisory Board Chairman Increases American Poverty: Jeff Immelt, CEO Of General Electric & Owner Of NBC Urges More Welfare Debt For America ~ While Receiving $Billions In Taxpayer Bailout Money From Obama & Then Moves American Jobs Out To Other Countries, While Obama Nullifies Tax Oblgations For G.E.

The Family and Business Tax Cut Certainty Act of 2012, which passed through the Senate Finance Committee in August, was copied and pasted into the fiscal cliff legislation, yielding a victory for biotech companies, wind-turbine-makers, biodiesel producers, film studios — and their lobbyists. So, if you’re wondering how algae subsidies became part of a must-pass package to avert the dreaded fiscal cliff, credit the Biotechnology Industry Organization’s lobbying last summer.

• Review – General Electric: The Worst Bailout in the World aka; Indebting America To High Taxation. Contrary To The Founding Fathers.

Some tax lobbyists mostly ignored the August bill “because they thought it would be just a political document,” one K Streeter told me. “They were the ones that got bit in the butt.”

• General Electric Makes New Lear Jet In Mexico Where Unemployment is 4.9%: U.S. Taxpayers Bailed Out G.E. For $182.5 Billion. Thanx G.E.

Here’s what happened: In late July, Finance Chairman Max Baucusannounced the committee would soon convene to craft a bill extending many expiring tax credits. This attracted lobbyists like a raw steak attracts wolves.

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Thanks to: http://2012thebigpicture.wordpress.com