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The House voted  Friday to make research tax credits permanent . The credits that reward businesses for investing in research and development will add 156 billion dollars to the national deficit spread over a decade.

Many of the tax credit expired at the beginning of the year most likely to boost the voting polls in the primaries. The 50 other credits are routinely extended by congress.

Now the Congress, an almost (don't forget Big Oil) Wholly owned Subsidiary of Kosh industries and Big Pharma, gives themselves and their constituents a booster shot of Washington's favorite drug of choice fat green cash tax credits, in return for Donations. They would make the crack addict community proud to be American ...

Everybody knows that big Phamas already get special exceptions for research and developments that allows then to jack-up pharmaceutical prices in the United States. Research shows that prescription drug or medicine prices in the United States are among the highest in the world, sometimes up to 80% higher, including other developed countries.

The pharmaceutical industry has thousands of lobbyists in Washington, D.C., that lobby Congress and protect their interests. The pharmaceutical industry spent $855 million, more than any other industry, on lobbying activities from 1998 to 2006

And now they want to sweeten the deal with tax credits for their Pharma constituents . OOps ! guess the congress forgot to mention that to the media...

The PR representative for the National Assoc. of Manufactures told the Media that the credits "would mostly go to pay the salaries of engineers, scientists, software developers and 'Others' who work to develop new and improved products". That is innocent sounding enough as long as you don't question what 'Others' is referring to.  

Looks like Now in the post Citizens United Mccutcheon era, rather that closing the loop holes, They are opening the flood gates and trying to lock them Open. Perhaps trying to make a good showing in the 2014 -2016 pony show ..

Humm? Guess they didn't forget to leave a little something for 'Big Oil', that is if Fracking and oil exploration would be covered under research and 'development' ??  

Poll

Do you Think that Corporate tax Credit should be permanent

5%1 votes
88%15 votes
0%0 votes
5%1 votes

| 17 votes | Vote | Results

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