DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post

**BostonDoctorTTT** · 11-10-2008, 05:43 PM

Originally posted by Naked Gents Rut
No one's money is being used to encourage them. The banks are paying less in taxes, not receiving more in taxpayer funds. The money is going to be borrowed to pay for this. Giving the banks a tax break is in effect, exactly the same thing as giving them a subsidy. Of course, the money has to come from somewhere else in the economy, which hurts all of us.

I'm not going to get up in arms about cutting taxes as an emergency measure during a financial crisis. There's nothing preventing Congress from reinstating the tax at a later date. Congress didn't intend to make this cut. It was snuck into the deal as the framers terrorized us with their language of urgency.

11-10-2008, 05:43 PM	#9
BostonDoctorTTT Join Date Oct 2005 Posts 434 Senior Member	Originally posted by Naked Gents Rut No one's money is being used to encourage them. The banks are paying less in taxes, not receiving more in taxpayer funds. The money is going to be borrowed to pay for this. Giving the banks a tax break is in effect, exactly the same thing as giving them a subsidy. Of course, the money has to come from somewhere else in the economy, which hurts all of us. I'm not going to get up in arms about cutting taxes as an emergency measure during a financial crisis. There's nothing preventing Congress from reinstating the tax at a later date. Congress didn't intend to make this cut. It was snuck into the deal as the framers terrorized us with their language of urgency.
	Quote