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Obama Gives $33 Billion to Home Builders

Rarely does news shock me.  The corruption is so thick...How can one be surprised?  Barack Obama has given us a reason to sit in awe: ON Nov. 6, President Obama signed the Worker, Homeownership and Business Assistance Act of 2009 into law, extending unemployment benefits by 20 weeks and renewing the first-time homebuyer tax credit until next April.But tucked inside the law was another prize: a tax break that lets big companies offset losses incurred in 2008 and 2009 against profits booked as far back as 2004. The tax cuts will generate corporate refunds or relief worth about $33 billion, according to an administration estimate.Happy Holidays.

Full post as published by Crime & Federalism on November 14, 2009 (boomark / email).