Why is the Rum Always Gone?
Via the splendid and worthwhile Belmont Club, a curious tale of government, the TARP fiasco, and ... rum.
The facts are just a tad curious.
-Diageo Plc is a British company.
-It is not a bank.
-It manufactures Captain Morgan rum in Puerto Rico.
-The governor of the Virgin Islands wanted them to move production to St. Croix, and offered billions, yes, with a "B", in tax incentives if they would do so.
-Congress, with all the careful forethought of a herd of stampeding wildebeest, decided to add non-bank tax incentives into the TARP travesty. As you may recall, nobody read the whole bill before it was passed. I don't think it was physically possible to read the whole bill from first printing to when it was voted on. Sound familiar?
-Diageo Plc was not mentioned by name in the tax incentive portion of the bill, but the general tax incentive under which it was offered Billions-with-a-B *was* included.
Logic puzzle: Given that the TARP bill contained such vast expenditures for non-American, non-bank corporations, and given that the bill passed with no-0ne being able to read the whole thing, what is the logical expectation when the Cap and Trade Energy bill hasn't even been read in its entirety by the people who WROTE it? For all we know pages 299-320 are the Klingon translation of Longfellow's "Evangeline". Plus billions of dollars for a study that will evaluate global temperatures as a function of the pirate population.
Complete the Link:Pirates are to Rum as Congress is to _____
God I need a drink...