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Tax Credits, Another Way to Screw Government Budgets

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July 04, 2008 – Comments (2)

Government budgets everywhere are being squeezed and are in deficits.  Somewhere I read yesterday excluding the federal government other governments have come in $48 billion further in deficits.  From my reading I understood this meant the the shortfall was under estimated by $48 billion.

And now when you consider all the businesses in loss positions and the huge tax credit they will get, this is going to get much, much worst.

Here's one on UBS.  I didn't really think about how much the write-offs world wide are going to hurt government budgets.

2 Comments – Post Your Own

#1) On July 04, 2008 at 3:51 PM, MaskedMan2007 (99.34) wrote:

And it doesn't take the accounting manipulations that are done by some governements... here in Quebec the governement is always trying to hide few billions in deficit by not including the money lost by hospitals and schools and other stuff like that.

As with many other organisations, the situation is probably worse than the information we already have in hand.

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#2) On July 04, 2008 at 11:58 PM, LORDZPAIN wrote:

It doesnt look good, tax revenues will fall severely, sooner or later even the gov will have to look to either raise taxes or look to curtail spending... A tax hike will unfortunately probably result in even less tax revenue generated. So the smart thing would be to curb spending however as we are talking about the government rarely do they get it right and do the smart thing...

 I believe I can see the future because I repeat the same routine. I think I use to have a purpose, then again it might have been a dream. I think I use to have a voice, but now I barely make a sound. I just do what i've been told, i really don't want them to come around. Every day is exactly the same, there is no love here and there is no pain. Every day is exactly the same. I can feel their eyes are watching just in case I lose myself again. Some times I think I'm happy here. some times I still pretend. I can't remember how this exactly got started but I can tell you exactly how it will end. Every day is exactly the same. I'm writing this all on some paper, which i'm hoping that you will find. I'll hide it behind something that they won't look to find. I am still inside, this pain, I wish that this could have been any other way, but I dont know exactly what I could have done. Every day is exactly the same, there is no love here there is no pain. " ‹^› ‹(•¿•)›

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