If you don't do what you wanna do, you're just bullshitting yourself.

- Carroll Shelby

The Big Business of Government Corruption

Business pay taxes when they do well, and, unlike most taxpayers, they get to apply tax losses to offset taxes in the future. Businesses can also go back two years to reduce previous tax liabilities with current losses and receive refunds, but the National Association of Home Builders wants more, and many in congress wish to cede:

The Foreclosure Prevention Act of 2008, the son of the stimulus bill introduced in the Senate, contains a variety of measures to shore up the housing market. It does not yet include a tax break for new-home purchases, although it does include another business-tax break the builders have been angling for. It would let companies get tax refunds by applying losses incurred in 2006 through 2008 to taxes paid on profits going back five years instead of two years under present law. President Bush has threatened to veto the bill. [Read]

These kinds of things are wrong and indicative of the mistreatment of taxpayers by the government. It is effectively a money giveaway program for home builders, who will have, in effect, not have had to pay taxes when they were earning significant profits while participating in a boom. Is this conservative? Is this liberal? No, this is the usual corruption of politicians--and real politicians have no party affiliation, only loyalty to their position of power.

You will pay for this. your kids will pay for this. And only a few will profit. This is not equal treatment under the law but taxation without representation--where is our representative in this? Bush's veto?

We need honorable politicians--there is an oxymoron.

posted at 19:22:15 on 02/29/08 by clearpolitics - Category: Obviously - [Permalink]

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Comments

J Edwards wrote:

We are in a war for survival and this has not united us. Barack Obama says he is going to unite us. What is his mechanism? Precisely what is he going to change? Will implementation of his socialist-populist rhetoric make things worse? He says he will not talk with Canada or Mexico about NAFTA, but he will talk to North Korea and Iran about what?
I believe we can muddle through with McCain, but Hillary would be a disaster. Obama would engender a calamity I am not sure the Country could survive.
03/02/08 20:33:11

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