Tax Credits, Another Way to Screw Government Budgets
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.