10 weird parts of the 'fiscal cliff' deal

1. A $9 billion "sop for Wall Street banks and major multinationals."

Section 322 of the bill allows manufacturers and banks to defer taxes when they engage in a special type of financial transactions known as "active financing." The break costs $9 billion per year, and critics claim it encourages firms to create jobs overseas. But it's a lobbying priority for companies like General Electric and JPMorgan, who say that it helps them compete abroad, and it will get extended another year.

Now, there are a ton of other costly business tax breaks in the deal, too, from tax credits for research and development to bonus depreciation (which studies have found are ineffective at stimulating the economy).

2. A rum tax for Puerto Rico.

Congress currently levies an excise tax worth $13.50 per gallon on rum produced in or imported to the United States. Most of that money is transferred to Puerto Rico and the Virgin Islands to support their rum industries. In 2009, this tax raised some $547 million. The cliff deal would extend this arrangement another year. (By the way, Puerto Rico's non-voting representative in the House, Pedro Pierluisi, thinks this tax set-up is too favorable to rum distillers.)

3. Cheaper office space for Goldman Sachs.
4. Help NASCAR build racetracks.
5. Treat coal from Native American lands as an "alternative energy source."
6. Promote plug-in electric scooters.
7. Repair the railroads.
8. Subsidize Hollywood films.
9. Crack down on tax fraud in prison.
10. Provide incentives for commuters to take the bus or train.
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Politicians suck!