"The government is consciously forfeiting future tax revenues. It's another form of assistance, maybe not as obvious as direct assistance but certainly another form. I've been doing taxes for almost 40 years, and I've never seen anything like this, where the IRS and Treasury acted unilaterally on so many fronts."
-Robert Willens, an expert on tax accounting
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The ongoing transfer of wealth from the middle class to the top 1% continues unabated.
The Treasury Department, via the IRS, ha made a terrible deal with Citigroup for TARP repayment: They repay $20 billion in TARP money, and in exchange we give them keep $38 billion in tax abatements.
WTF? rest at http://www.ritholtz.com/blog/2009/12/citi-tarp-repayment-is-a-tax-dodge/
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