Sort of off-topic but interesting nonetheless. Congress is trying to
pass a tax cut for manufacturers. As predicted in the latest Economic
Report of the President, any time targeted manufacturing programs are
put into place, companies will try to define themselves as
manufacturing, since the lines are pretty gray (this report was the
genesis for the baseless rumor that fast food was going to be
reclassified as manufacturing).
Caffeinated Tax Cut
Wall Street Jounral
October 8, 2004; Page A16
Are you a coffee roaster, or merely a coffee brewer? Apart from being
one of life's great existential questions, this poser may soon
determine your tax rate.
You see, under the corporate tax bill now emerging from Congress,
manufacturers will effectively get their tax rate cut to 32% from 35%.
So the race has been on for every company with a lobbyist worth the
name to qualify under the law's definition of "manufacturer." In the
end, the coffee roasters have apparently made the cut, thanks in part
to the political muscle of Starbucks, but lowly coffee brewing was not
deemed worthy. It's a shame Daniel Webster isn't around to debate this
(rest snipped to comply with fair use)