The tax provisions of the Foreclosure Prevention Act, which consumer groups and labor leaders say amount to government handouts to big business, show how the credit crisis, while rattling the housing and financial markets, has created beneficiaries in the power corridors of Washington. Full Story »
Posted by Melva Hackney
Big picture - individual consumers (who have no collective ability to influence legislation) are the losers and big business (who have big lobby dollars) are the winners. Again. So, the entities who outsourced the jobs, broke the unions, busted down the wage base, sent jobs overseas, created financial products that were devastating, got the bankruptcy rules changed in their favor and had the tax code altered so often that they (the corporations) basically pay NO tax now are getting "rebates" on taxes they never PAID, and consumers get zippo. This country needs a Bastille Day.
