The Washington Post
highlights some of the most ridiculous loopholes and giveaways. One of my favorites:
The so-called NASCAR loophole, in place since 2004, allows anyone who
builds a racetrack to receive a small tax benefit through accelerated
depreciation. This tax break cost roughly $43 million the past two years
and will get extended for another year. Sounds tawdry, right? And yet,
supporters claim the
break is necessary so that NASCAR can compete on a level playing field
with other theme parks. Looks like they got their wish.
I'm sure folks building race tracks need those breaks.
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