The Big Business of Government Corruption
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.