"A Taxpayers for Common Sense (TCS) analysis has found that both of these liquor conglomerates (Diageo and Bacardi) benefit from a program renewed in the bailout bill. This program, known as a “cover over,” rebates excise taxes charged on rum imported from Puerto Rico or the the U.S. Virgin Islands back to the territorial governments. The governments in turn provide as much as 35% of the rebated revenue back to the distillers to help market rum in the U.S. – to teach Americans to “do the mojito“and find out if they “have a little Captain” in them."
Diageo, producer of Captain Morgan Rum, could receive as much as half the projected $5.4 billion rebate for their new operation in the U.S. Virgin Islands.
Drink, anyone?
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