Tax Reform ATR believes that all consumed income should be taxed one time, at one low and flat rate. Link
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Groups who advocated for the IRS to prepare tax returns sure look foolish these days: http://t.co/oKvpIofu7Y
May 13, 2013 06:30 PM
taxreformer -
"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
May 13, 2013 06:00 PM
taxreformer -
Health insurers and businesses are already feeling the iron-clad grip of regulations in #Obamacare: http://t.co/J6dfnKqFYZ
May 13, 2013 05:30 PM
taxreformer -
Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
May 13, 2013 03:46 PM
taxreformer -
Under #Obamacare, mothers have had a tougher time purchasing non-prescription, over-the-counter medicine: http://t.co/dJuaGAT9LE
May 13, 2013 02:01 PM
taxreformer -
9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
May 13, 2013 01:30 PM
taxreformer -
.@GroverNorquist on MFA: "[The Senate] didn't ask all of the questions that needed to be asked": http://t.co/wXfkIR2Ca9 #NoNetTax
May 13, 2013 01:01 PM
taxreformer -
"When architects of #Obamacare are worried about it creating a trainwreck, you know something's gone terribly wrong": http://t.co/J6dfnKqFYZ
May 13, 2013 12:30 PM
taxreformer -
Conservative and Free Market Groups Applaud Move to Delay a Vote on Gina McCarthy: http://t.co/lNQYmJAB12 #EPA
May 13, 2013 12:02 PM
taxreformer -
The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
May 13, 2013 11:30 AM
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Uh-Oh! Top Treasury Official Is Involved in Subprime Mess to Head New Agency?
According to Bret Baier at Fox News, Eric Stein, Senior Vice President for the Center for Responsible Lending, helped secure risky loans for low income individuals who would otherwise not qualify.
Why is this bad?
The government gave incentives for banks and lending institutions to seek-out these individuals who would normally be rejected during the loan process due to low income or bad credit. Institutions, backed by the government (taxpayer dollars) were in a win-win position. If they gave the loan, and it is paid back with interest, the lending institutions keep the money - win. If the loan defaults and is not paid back, the government uses taxpayer dollars to cover the bank's loss - win.
These large institutions win, thanks to this fail-safe logic by Democrats, and taxpayer lose.
You would think this lesson had been learned by now. However, this risky, government-backed behavior that got us into this mess to begin with - it's back in Title 12 of Dodd's bill, page 1398. ATR is calling this "Fannie Mae 2.0." Not only does this Title encourage this behavior by backing the bank's losses, it actually uses taxpayer money to give to financial institutions to allow them to advertise and actively seek out these high risk, lower income individuals.
What happened to Eric Stein? He is next in line to head the proposed Consumer Financial Protection Bureau that Sen. Dodd's bill will create. Well he certainly seems qualified...
Now which party is really coddling Wall Street?
