No Professional Golfer Left Behind

Today's Wall Street Journal reports on (subs. req'd) one of the extra special goodies in the American Jobs Creation Act of 2004, soon to become Dubya's latest tax-shift:

On page 598 of the 650-page bill, at the end of a section designed to limit the use of corporate "deferred compensation" plans, is an exemption for any plan "established or maintained by an organization incorporated on July 2, 1974." In other words -- the PGA Tour Inc., the nonprofit association whose members play on the professional golf circuit.