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September 23, 2013
Section 501(c)(6) of the Internal Revenue Code provides for the exemption of business leagues, chambers of commerce, real estate boards, boards of trade and professional football leagues, which are not organized for profit and no part of the net earnings of which inures to the benefit of any private shareholder or individual.
The NFL is considered a nonprofit by federal law (in fact, as the tax-code quote shows above, the league gets a specific call-out). How the heck did that happen? Long story, but Sen. Tom Coburn wants to change that.
I care more about my country than I do about a 20-year-old pledge…I care a lot more about it than I do Grover Norquist.
Republican Sen. Saxby Chambliss, breaking ranks with the militant anti-tax wing of his party. 41 senators have signed Norquist’s pledge—which is essentially a promise to never, ever vote for any revenue or tax increase—but while the document used to be Republican orthodoxy, its influence is showing signs of crumbling. Chambliss’ colleagues Lindsey Graham, John McCain, and Tom Coburn have all recently called for Republicans to abandon the pledge, as has former governor Jeb Bush. While Norquist is a very powerful figure in DC, he isn’t an elected official. He derives power solely from Republicans’ decision to grant him power, and if their subservience to his demands goes away, so does the bulk of his political influence. source
The best way for ethanol to survive is to stand on its own two feet, without spending something we don’t have to get something we’re going to have anyway.
Sen. Tom Coburn • Making an argument against handing out ethanol subsidies — which cut gas prices but also cost the federal government $6 billion per year. An amendment to kill the subsidies passed both the House and Senate. In the case of the Senate, it was a straight-up bipartisan vote: 73-27. And a number of groups — including environmental groups — note that the subsidies are no longer needed because the federal government already requires refineries to mix ethanol and gasoline. However, don’t get too excited, budget hounds: The amendment is tied to an economic development bill that likely will not pass. source(via • follow)
It makes us all look like jackasses. Anybody that says that we don’t look like fools up here hasn’t read the report.
Sen. Tom Coburn • Expressing his frustration over the the Government Accountability Office’s report that suggests that there are large amounts of overlap in the federal government, and that by cutting them, we could save billions of dollars each year. Coburn, who pushed for the report as part of a deal to raise the debt ceiling, says that any changes to the budget should get rid of wasteful or duplicative programs. Coburn’s office counts 33 areas where programs overlap and hundreds of individual programs, by the way. source(via • follow)
Tom Coburn has date for the State of the Union: Chuck Schumer: They’ll be paired, “Odd Couple”-style, in an attempt to be more civil. “We don’t sweep differences under the rug,” Chuck said. “Tom and I have real differences, but we can do it civilly.” source
Max Headroom: Tom Coburn explains his beef with spending
In recent weeks, Tommy Boy Coburn has been making his hack-slash budget views very known. In the last couple weeks, his meddling has even led to the omnibus spending bill (which would’ve, among other things, paid for health care) getting pushed back. He’s been putting attention on earmarks and other major factors, so when Coburn showed up on Fox News Sunday today, it’s obvious what he was there for. He wanted to get his two cents in on wasteful spending. Here’s the key part (which we skipped ahead for), where he talks about redundancy. Is he right? Is the redundancy what’s killing us? And why did Tom Coburn grow a beard, anyway, guys?
A little out of breath Poor Martin Savidge. Beyond the fact that he was working at CNN on Christmas Day (the worst of the worst shifts, by the way), he appears to have leapt into his chair almost too quickly, completely unable to keep up with his lines We can’t judge. We’d blow this, too.
Hockey confuses Rachel Maddow It’s the holidays; even Rachel Maddow is allowed to let the seriousness fade away for a few days and take it easy. So, she has a question … what the heck is this waffle-throwing phenomenon with the Toronto Maple Leafs? And why does she need to care?
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